JP Morgan CEO Jamie Dimon just said he doesn't 'really give a s..t' about Bitcoin

JP Morgan CEO Jamie Dimon (Getty Images)
  • JP Morgan CEO Jamie Dimon still isn’t excited about Bitcoin’s potential.
  • In an interview overnight he said he doesn’t “really give a shit” about the cryptocurrency.
  • Dimon called Bitcoin a “fraud” in September 2017.

Bitcoin still doesn’t interest JP Morgan CEO Jamie Dimon. While its underlying blockchain technology is “real”, he said overnight that he doesn’t “really give a s…t” about the digital currency and can’t see it rivalling fiat money.

In September last year Dimon called Bitcoin a fraud that’s “worse that tulip bulbs“.

At the time, Bitcoin was trading at around $US4,200. It subsequently rocketed to almost $US20,000 before a spectacular collapse to its current levels.

Overnight, Dimon spoke at an Axios conference on various topics including the US-China trade war. And perhaps because yesterday marked the 10-year anniversary of Bitcoin, the moderator took the opportunity to get Dimon’s latest thoughts on crypto.

So, does he regret what he said about Bitcoin being a fraud?

No.

“I never changed what I said, I just regret having said it,” Dimon said. “I didn’t want to be the spokesman against Bitcoin.”

In fact, “I don’t really give a shit — that’s the point,” he added.

On the subject of blockchain more broadly, Dimon said the technology is “real”. However, “Bitcoin is not the same as a fiat currency”.

On its 10th birthday, the world’s biggest cryptocurrency continued to trade in a relatively narrow range overnight.

BTC prices edged higher off their weekly lows and a short time ago were trading around $US6,340.

You can watch the Dimon interview via CNBC here.

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