JP Morgan CEO criticizes Bitcoin again, comparing it to a “pet stone” | CoinDesk JAPAN

JPMorgan CEO Jamie Dimon publicly reiterated his criticism of Bitcoin (BTC) on Wednesday, saying his personal advice is not to get involved.

Dimon said Bitcoin’s use cases include “anti-money laundering (AML), fraud, sex trafficking, and tax evasion,” but added, “I will defend your rights in Bitcoin.” Ta. The CEO urged Sen. Elizabeth Warren to “end it” on crypto assets in Congressional testimony a month ago.

“I don’t want to tell you what to do,” Dimon said. “My personal advice is to stay out of it.” He further commented that crypto assets are like “stone pets” that “do nothing.”

Dimon seemed to take a constructive view of crypto assets other than Bitcoin, noting that there are many things that can be “done with,” such as tokenizing real-world assets (RWA).

When asked about asset management giants such as Fidelity and BlackRock being involved in Bitcoin through physical exchange-traded funds (ETFs), Dimon replied, “I don’t care,” and I promised that this would be the last time I talked about coins.

CEO Dimon says he doesn’t care about spot ETFs, but JPMorgan plays an important role in BlackRock’s iShares Bitcoin ETF (IBIT) as one of the designated participants (APs) for spot ETFs. Fulfilling.

｜Translation and editing: Rinan Hayashi
｜Image: CoinDesk
｜Original text: Jamie Dimon Bashes Bitcoin Again: ‘A Pet Rock