Jamie Dimon, best known for his criticism of Bitcoin, cited concerns about its association with illegal activities while acknowledging individualsโ right to invest in crypto.
JPMorgan CEO Jamie Dimon now appears to be willing to support individualsโ right to purchase Bitcoin (BTC) following years of sustained criticism.
In a recent interview with CNBC, Dimon highlighted ongoing issues surrounding cryptoโs involvement in illicit activities such as fraud and terrorism. Despite these concerns, he emphasized his willingness to defend individualsโ right to purchase cryptocurrencies, although he personally seems hesitant to do so.
โI donโt know what the Bitcoin itself is for, but I defend your right to smoke a cigarette, Iโll defend your right to buy a Bitcoin. I wonโt personally ever buy a Bitcoin.โ
Jamie Dimon
This marks Dimonโs second public discussion about Bitcoin this year, following his previous statement in January where he said he was done talking about crypto:
โThis is the last time Iโm talking about this [Bitcoin] with CNBC, so help me God.โ
Jamie Dimon speaking with CNBC at the 2024 World Economic Forum in Davos
However, his latest remarks appear to contradict earlier statements, such as his assertion in December 2023 that he would shut down Bitcoin and other cryptocurrencies if he represented the American people. That statement came during a congressional hearing in response to concerns raised by Senator Elizabeth Warren, a vocal critic of cryptocurrency, regarding crypto regulation and compliance. However, as Chainalysis earlier clarified, less than 1% of crypto transactions are actually tied to illegal activities.
At the time of reporting, Bitcoin is trading at $72,110, marking a year-to-date increase of over 70%, according to data from Yahoo Finance.
