Dimon compared Bitcoin to smoking and stated that he did not approve of this cryptocurrency, but was not against cryptocurrencies in general.

Dimon made his view on Bitcoin clear, saying, “I’m not against crypto, but I don’t believe Bitcoin has any inherent value.”

These statements show that Dimon may take a more moderate stance on cryptocurrencies in general, but his attitude towards Bitcoin has not changed.

Dimon compared Bitcoin users to smokers, stating that he applauds their right to buy and sell Bitcoin, but disapproves of them holding Bitcoin.

“So I don’t have great feelings about Bitcoin. I applaud your right to buy and sell it. Likewise, I think you have the right to smoke, but I don’t think you should smoke,” he said.

This analogy clearly reveals Dimon’s attitude towards Bitcoin; He says that using Bitcoin as an investment tool does not mean that he values ​​it.

Dimon also stated that he sees Bitcoin as a tool often used to facilitate criminal activities. He argued that Bitcoin was used in illegal activities such as money laundering, human trafficking and ransomware.

Although these statements show that Dimon continues his harsh opposition to Bitcoin, they mean that he has a positive attitude towards all cryptocurrencies. “I’m not against crypto,” Dimon said, simply emphasizing that Bitcoin is an asset with “no inherent value.”

However, Crypto ISAC, a research organization, revealed that Bitcoin is not a very common means of payment for illegal transactions. A report stated that cash is the most used payment instrument for criminal transactions and only 0.34% of cryptocurrencies are associated with crime.

Additionally, the US Treasury Department also confirmed that cash remains the primary method for money laundering. These data may raise questions about how realistic Dimon’s harsh stance towards Bitcoin is.

Dimon has been making statements opposing Bitcoin since 2014. At the time, he argued that Bitcoin was a “bad store of value” and lacked the legitimacy of state-backed currencies.

He also stated that JPMorgan employees would be fired if they were found to be buying and selling Bitcoin. However, he stated that in 2024, individuals who buy and sell Bitcoin will be able to defend their rights.

Although JPMorgan has long supported Dimon’s negative stance on Bitcoin, Dimon’s bank is also an authorized participant in BlackRock’s Bitcoin spot ETF. This shows that Dimon’s own bank indirectly accepts Bitcoin, but he still opposes Bitcoin individually.

Dimon’s positive evaluation of blockchain technology, as well as his opposition to Bitcoin, shows that he has a more complex stance on cryptocurrencies and technologies.