JPMorgan Chase CEO: Cryptocurrency has no intrinsic value, investment needs to be cautious - Aliens: AI Crypto News & Markets Updates
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JPMorgan Chase CEO: Cryptocurrency has no intrinsic value, investment needs to be cautious

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Aliens

Fri, Nov 26, 2021

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Jamie Dimon, CEO of the global investment bank JPMorgan Chase, reminded people to be careful when investing in cryptocurrencies. When asked whether young people should invest in cryptocurrency, he said, “I’m a skeptic. I mean blockchain is real if we use it for certain things. Parts of DeFi (decentralized finance) are real.”

However, he also pointed out that, "Cryptocurrency has no intrinsic value. You are basically buying a token. Why it has a lot of that I don’t know, and I think there’s so much speculation taking place in stocks and securities and crypto and stuff like that. I would be very careful."

Despite this, Jamie Dimon said he will defend the right of the people to invest how they please in a free country. "I will not do this," was his personal stance.

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