Jamie Dimon Praises Blockchain, Still Not A Fan Of Bitcoin

Jamie Dimon has bragged that the bank he helms — the biggest bank in the United States —  is a leader in using the blockchain to move billions

JPMorgan Chase CEO Jamie Dimon has never been one to mince words when it comes to Bitcoin. Despite helming the largest bank in the United States, Dimon has consistently expressed his disdain for the world’s preeminent cryptocurrency. However, while Dimon may not be a fan of BTC, he has voiced support for the digital asset’s underlying technology.

In a recent interview at the Georgetown Psaros Center for Financial Markets and Policy, Dimon was blunt in his assessment of blockchain use. When asked about the bank’s involvement with the technology, he stated, “[JPMorgan Chase] is probably one of the bigger users of blockchain. A real user — an actual user — as opposed to sex trafficking.”

Dimon's尖刻 remarks appeared to be directed at certain crypto enthusiasts who have touted the use of blockchain for illicit activities such as money laundering or human trafficking.

Throughout the years, Dimon has maintained a clear distinction between “crypto” and “blockchain,” viewing the ledger technology that underpins digital assets as a useful tool. In contrast, he has been a staunch critic of cryptocurrency, previously referring to it as “decentralized Ponzi Schemes” and describing Bitcoin as “a hyped-up fraud” and "worthless" in 2021.

If given the authority in government, Dimonfamously said last year that he would attempt to shut down Bitcoin.

On Tuesday, Dimon once again likened Bitcoin to a “pet rock,” a comparison he has made before. Notably, the JPMorgan CEO is reportedly being considered for Treasury Secretary if Donald Trump retakes the White House.

While the banking magnate asserted that his institution does not lend against crypto assets, he acknowledged that some customers may still be able to access crypto services through the bank. “If you want to do it, it’s a free country, do what you want,” he stated.

Despite Dimon's persistent criticism of Bitcoin, he ultimately expressed a positive view of blockchain as a means to “share data” and build trust between banks and their clients.

When all is said and done, the banker may not care about Bitcoin, but a lot of people certainly do — among them Larry Fink, the CEO of the world's largest asset manager BlackRock.