JPMorgan’s Jamie Dimon May Love Blockchain, But He Still Hates Bitcoin

Jamie Dimon, CEO of the financial juggernaut JPMorgan Chase, has consistently derived Bitcoin (BTC) and once again expressed his dislike for the preeminent cryptocurrency.

While Dimon decried BTC, he expressed support for the digital asset’s underlying technology. The banking magnate said in a recent interview at the Georgetown Psaros Center for Financial Markets and Policy that his bank is actually one of the biggest “real” users of blockchain technology.

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 even if Bitcoin, the pioneer crypto that made blockchain famous, is not his cup of tea.

“[JPMorgan Chase] is probably one of the bigger users of blockchain. A real user — an actual user — as opposed to sex trafficking,” Dimon the nihilist said when asked about innovative technologies like Blockchain. “It’s just a database.”

Notably, he has repeatedly differentiated between “crypto” and “blockchain,” the ledger technology that serves as the foundation for digital assets and something he considers a useful tool. He has long been a consistent critic of the cryptocurrency over the years — calling it “worthless” back in 2021, and last year, saying he’d try to shut it down if he had the authority in government. Dimon has also gone on record referring to cryptocurrencies as “decentralized Ponzi Schemes” and Bitcoin as “a hyped-up fraud”.

Dimon, who on Tuesday repeated his longstanding belief that Bitcoin is like a “pet rock,” is reportedly being considered for Treasury Secretary if Donald Trump retakes the White House.

While the JPMorgan boss said his bank cannot lend against crypto assets, he is certain some customers still have access to crypto services via the bank. “If you want to do it, it’s a free country, do what you want,” he postulated.

Although Dimon remains critical of Bitcoin, he believes blockchain is a “great way to share data” and establish trust between bank and their customers.”

When it’s all said and done, the banker may not care about Bitcoin, but plenty of people do, including Larry Fink, the CEO of the world’s largest asset manager BlackRock.