JPMorgan CEO Jamie Dimon says bitcoin is ‘a little bit of fool’s gold’

Posted by Taylor Locke,

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Jamie Dimon, JPMorgan Chase chairman and CEO, remains a skeptic of bitcoin, the largest cryptocurrency by market value.

“It’s got no intrinsic value. And regulators are going to regulate the h— out of it,” Dimon recently told Axios CEO Jim VandeHei.

Dimon said that bitcoin will be around long-term, but “I’ve always believed it’ll be made illegal someplace, like China made it illegal, so I think it’s a little bit of fool’s gold.”

Dimon also said that bitcoin should be regulated by the government. “They have to,” he told VandeHei. “You can’t regulate everything a bank does in terms of moving money and not regulate what you would call money,” like cryptocurrency…read more.