Satoshi Will ‘Laugh At You All—JPMorgan CEO Jamie Dimon Mocks Bitcoin And Crypto With Devastating Price Prediction

Former JPMorgan CEO Jamie Dimon is not a fan of Bitcoin and other public cryptocurrencies, even though his bank is developing its own blockchain and digital currency.

register now on Forbes CryptoAsset and Blockchain Advisor and has successfully navigated the recent cryptocurrency and bitcoin market crash.

Bitcoin's price has fluctuated wildly in recent years, reaching almost $70,000 per bitcoin before the crash (although some believe it is now "ready to go").

Dimon has now called Bitcoin a "waste of time" and wondered what would happen if Bitcoin's supply exceeded 21 million coins, which was only expected in the next century.

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"How do you know it's going to hit 21 million?" Dimon asked a CNBC reporter on the sidelines of the World Economic Forum in Davos, adding that bitcoin's fixed supply makes it a rare store of value comparable to digital gold. "Everybody says so," Dimon said. "Well, maybe it goes to 21 million and there's a picture of [mysterious Bitcoin creator] Satoshi laughing at you."

Satoshi Nakamoto, the anonymous person or group who published the Bitcoin article in 2008, apparently left the project shortly after its launch, saying he had "moved on."

In theory, Bitcoin's so-called "cap," which is just over 21 million coins, could change after some members of the Bitcoin community tried to increase the number of transactions that Bitcoin can handle through a similar process in 2017. through The experiment led to a new version. A spin-off of the Bitcoin network, renaming it Bitcoin Cash.

"I think it's all a waste of time and I can't understand why you're losing your breath," Dimon, who called Bitcoin a "trash" in 2021 amid the "era of COVID" price surge and called it a "fraud". first place. In 2017. "Bitcoin itself is a state-of-the-art fraud," Dimon reiterated.

Dimon was also asked about BlackRock's efforts. Black , the world's largest asset manager, to build cryptocurrency infrastructure.

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Last year, BlackRock partnered with Coinbase, a US public bitcoin exchange, to make the cryptocurrency directly available to institutional investors by creating a local private bitcoin trust for institutional investors that tracks the price of bitcoin.

"It's different," Dimon said, before praising the blockchain technology behind bitcoin that powers other cryptocurrencies. "We think [blockchain] will expand, but we've been talking about it for 12 years and very little has been done."

despite , , 1, , falling prices as proof of its stability. and stability.

Cryptocurrency. pros and cons + what you need to know. - Ep. twenty