JPMorgan Chase CEO Jamie Dimon recently referred to Bitcoin as a “misunderstood fraud.” The Senior executive then went on to inquire about the creator of the cryptocurrency and the limit on its supply. All of us would be surprised if the Bitcoin supply reaches 21,000,000 coins.
JPMorgan Chief on Bitcoin’s Supply Limit
The global banking giant JPMorgan’s CEO, Jamie Dimon, was recently interviewed by CNBC to express his negative opinion on Bitcoin. Thursday. The JPMorgan chief commented:
Bitcoin That’s a scam. It’s A pet rock.
When asked about the collapse of the cryptocurrency trading platform FTX, Dimon said: “It doesn’t surprise me at all. I call them a decentralized Ponzi scheme. The hype around this has been extraordinary.”
Dimon Also, he questioned the 21 million BTC supply limit. This suggests that a pseudonymous Bitcoin creator may be at fault. Satoshi Nakamoto Could reduce the supply limit of cryptocurrency. He said:
How Do you know it will stop at 21,000,000? Maybe It reaches 21 million Satoshi’s image appears and he is the one laughing at us all… Satoshi You will have earned billions of dollars.
Despite being a proponent of blockchain technology, the JPMorgan executive emphasized: “Crypto The other does nothing. It’s A pet rock. He He then told CNBC: “I don’t care about Bitcoin, so let’s drop this matter.”
This It wasn’t the first time. Dimon I had doubted the availability of bitcoin. In October 2021, he similarly said: “How Are you aware that it will reach 21 million people? Do Everybody should read the algorithms? Do You all believe it? I don’t know. I’ve I have always been skeptical about such things.” Last December, he compared crypto tokens to pet rocks. Furthermore, he said during a congressional hearing in September that cryptocurrencies, like bitcoin, are “Decentralized Ponzi schemes.”
Many bitcoin advocates mocked Dimon For his incomprehension, he uses social media. One tweeted: “Dimon just said on CNBC that Satoshi may lower the Bitcoin limit. He’s a jerk, but I’m sure most people agree with him. Satoshi is irrelevant, now it is the code and the network ”. Other opined: “It’s sad that Jamie Dimon doesn’t understand that you can look at the source code to know that a laughing picture of Satoshi doesn’t appear in 21,000,000.” One Third wrote:
Jamie Dimon I don’t know what to do. Bitcoin Is, or knows what it is, but ridicules it and dismisses its existence out of sheer fear it will disrupt the legacy banking core business that charges egregiously excessive fees.
What What do you think? Jamie Dimon’s Opinion on Bitcoin and his Predictions Satoshi’s Image will appear on 21,000,000 coins Let Let us know what you think in the comments section.
