October 1, 2022

JPMorgan Chase & Co. CEO Jamie Dimon said he remains a skeptic on cryptocurrencies, just a few weeks after he described bitcoin as worthless.

Soucre: Christophe Morin/Bloomberg via Getty Images

“Cryptocurrency has no intrinsic value,” Dimon said in an in interview Wednesday with CBS Boston, as reported by Bitcoin.com. “You are basically buying a token.”

“There’s so much speculation taking place in stocks and securities and crypto and stuff like that. I would be very careful,” he added.

Soucre: pymnts.com

The longtime JPMorgan Chase JPM, 0.03% chief executive said he defends people’s right to participate in cryptocurrency but added, “I’m not going to do it.”

Soucre: news.bitcoin.com

Dimon’s comments came in response to a question about TV commercials encouraging cryptocurrency investments and whether young people should put their money into it.

Dimon said he remains doubtful about cryptocurrency, but added that blockchain technology may have a place in the financial system.