JPMorgan chief executive Jamie Dimon has slammed cryptocurrencies, claiming bitcoin is “worthless.”
“No matter what anyone thinks about it, government is going to regulate it. They are going to regulate it for (anti-money laundering) purposes, for (Bank Secrecy Act) purposes, for tax,” Dimon said, referring to banking regulations in a conversation held virtually by the Institute of International Finance.
Dimon’s comments come despite this summer JPMorgan giving its wealth management clients access to cryptocurrency funds.
Dimon, who has called bitcoin a ‘fraud’ before, did not move Bitcoin prices however.
Bitcoin is steady on Tuesday after making strong gains once again at the start of the week.
Craig Erlam, Market Analyst, UK & EMEA, OANDA, said: “We have seen it start to lose momentum on approach to $60,000 which is the next psychological barrier to the upside. But longer-term, there appears to be plenty of support behind the bitcoin rally which may point to new all-time highs in the not-too-distant future.”