Dimon Dismisses Bitcoin as 'Pet Rock,' Calls for Shut Down While Remaining Open to Other Cryptocurrencies
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Jamie Dimon bashed Bitcoin again, calling it a "pet rock" and saying his advice is to not get involved.
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Dimon cited use cases like money laundering, fraud, sex trafficking, and tax avoidance for why Bitcoin should be "closed down".
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Dimon appeared more constructive on cryptocurrencies besides Bitcoin, saying they could be used for tokenization.
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Dimon doesn't care about asset managers like Fidelity and BlackRock getting involved with Bitcoin spot ETFs.
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Despite his criticisms, JPMorgan is playing a key role as an authorized participant for BlackRock's Bitcoin ETF.