{"id":29411,"date":"2024-04-19T15:25:08","date_gmt":"2024-04-19T15:25:08","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/jpmorgan-ceo-calls-bitcoin-a-ponzi-scheme-despite-jpmorgans-involvement-in-bitcoin-etfs\/"},"modified":"2024-04-19T15:25:08","modified_gmt":"2024-04-19T15:25:08","slug":"jpmorgan-ceo-calls-bitcoin-a-ponzi-scheme-despite-jpmorgans-involvement-in-bitcoin-etfs","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/jpmorgan-ceo-calls-bitcoin-a-ponzi-scheme-despite-jpmorgans-involvement-in-bitcoin-etfs\/","title":{"rendered":"JPMorgan CEO calls Bitcoin a &#8216;Ponzi Scheme&#8217; despite JPMorgan\u2019s involvement in Bitcoin ETFs"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_JP-Morgan-Chase-office-building-1-1-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_JP-Morgan-Chase-office-building-1-1-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_JP-Morgan-Chase-office-building-1-1-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_JP-Morgan-Chase-office-building-1-1-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Jamie Dimon, JPMorgan CEO, called Bitcoin a \u201cPonzi scheme.\u201d<\/li>\n<li>Dimon\u2019s criticism comes despite JPMorgan\u2019s involvement in Bitcoin ETFs.<\/li>\n<li>Bitcoin\u2019s recent price volatility highlights ongoing debates in the cryptocurrency market.<\/li>\n<\/ul>\n<p>JPMorgan Chase CEO Jamie Dimon has once again voiced his scepticism towards <a href=\"https:\/\/coinjournal.net\/bitcoin\/what-is-bitcoin\/\">Bitcoin (BTC)<\/a>, dubbing it a \u2018Ponzi scheme\u2019 during an <a href=\"https:\/\/www.cnbc.com\/video\/2024\/01\/17\/jpmorgan-ceo-jamie-dimon-on-bitcoin-my-personal-advice-is-dont-get-involved.html\">interview on Bloomberg TV<\/a>.<\/p>\n<p>During his interview, Dimon reiterated his long-standing criticism of Bitcoin, stating that it lacks utility and legitimacy as a form of money. He described Bitcoin and similar cryptocurrencies as \u201csimply not functional as currencies,\u201d emphasising his belief that they are essentially Ponzi schemes disguised as technological innovation.<\/p>\n<p>However, this is not the first time that the CEO is criticizing Bitocin. His scepticism towards Bitcoin is well-documented. He previously called Bitcoin a \u201cfraud\u201d and expressed concerns about its potential to facilitate illegal activities such as money laundering, fraud, and tax evasion due to its anonymity and lack of regulation.<\/p>\n<h2>JPMorgan\u2019s involvement in Bitcoin ETFs<\/h2>\n<p>It\u2019s notable that despite Dimon\u2019s vocal criticism of Bitcoin, JPMorgan has been actively involved in the cryptocurrency space.<\/p>\n<p>The banking giant has served as an Authorized Participant for BlackRock\u2019s spot Bitcoin exchange-traded fund (ETF) and has participated in several blockchain-based projects over the years.<\/p>\n<p>Furthermore, despite Dimon\u2019s scepticism towards Bitcoin, the CEO acknowledged the potential value of certain aspects of blockchain technology, particularly those facilitating smart contracts although\u00a0 he maintained his stance that cryptocurrencies like Bitcoin lack inherent value as currencies, echoing his previous sentiments on the matter.<\/p>\n<p>This juxtaposition highlights the nuanced approach within the banking giant towards cryptocurrency investments, even as its CEO expresses scepticism.<\/p>\n<h2>Bitcoin (BTC) price market reaction<\/h2>\n<p>Bitcoin\u2019s market performance has been subject to fluctuations in recent times. At the time of writing, <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin price<\/a> was $64,741.28, after experiencing a 4.92% increase in the last day, but it was still down 8.41% over the past seven days.<\/p>\n<p>Despite these fluctuations, Bitcoin\u2019s market capitalization has recently surpassed $1.2 trillion, reflecting its continued growth and acceptance as an asset class.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/jpmorgan-ceo-calls-bitcoin-a-ponzi-scheme-despite-jpmorgans-involvement-in-bitcoin-etfs\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison ) Jamie Dimon, JPMorgan CEO, called Bitcoin a \u201cPonzi scheme.\u201d Dimon\u2019s criticism comes despite JPMorgan\u2019s involvement in Bitcoin ETFs. Bitcoin\u2019s recent price volatility highlights ongoing debates in the cryptocurrency market. JPMorgan Chase CEO Jamie Dimon has once again voiced his scepticism [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":29412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/29411"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=29411"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/29411\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/29412"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=29411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=29411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=29411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}