JPMorgan CEO Jamie Dimon has reiterated his skepticism towards Bitcoin, stating that the US should not be stockpiling the cryptocurrency. Speaking at the Reagan National Economic Forum, Dimon emphasized that “we shouldn’t be stockpiling Bitcoin”. This stance comes amid a move by the US government to establish a strategic Bitcoin reserve, using seized or forfeited Bitcoins in legal actions.
Dimon acknowledges the growing demand for crypto among JPMorgan clients but has not changed his views on its long-term value and use case. He compares Bitcoin to smoking – not recommending it but recognizing that people will still use it. This dual stance reflects a broader tension in the financial sector, where institutions are cautiously navigating client demand and regulatory uncertainty.
Bitcoin remains a polarizing topic on Wall Street, with some seeing it as digital gold and a hedge against inflation, while others question its value and use case. The creation of a Bitcoin reserve and institutional interest from banks like JPMorgan continue to push the cryptocurrency into mainstream financial discussions. Dimon’s comments will likely fuel further debate about Bitcoin’s role in both public and private sectors.
Source: https://www.tokenpost.com/news/people/15647