Article Image

IPFS News Link • Bitcoin

Video: JP Morgan CEO Sees Bitcoin as a Waste of Time

• https://www.cryptocoinsnews.com

Bitcoin skeptic Jamie Dimon, CEO of JPMorgan has once again spoken about the decentralized cryptocurrency, Bitcoin - by dismissing it. He sees potential in blockchain, however.

"Separate currency from blockchain," Dimon said, speaking at the Fortune Global Forum. "My belief is that there's not going to be virtual currencies. They may be small," he added dismissively, stating that governments will not put up with it.

"Government like to control (currencies). They have central banks, they like to control the supply. They also generally like to know where it (currency) is and where it goes."

Bitcoin, cryptocurrencies and virtual currencies are slowly being seen as innovations by some government entities and regulators around the world. The Chinese Cyberspace Administration recently said the world is already in a "post-Bitcoin era" and that the revolutionary changes by Bitcoin can no longer be ignored. Certain voices from Scotland have recently talked up the need to form their own version of a virtual currency – ScotPound, to be used alongside the pound sterling. The UK Treasury Secretary recently proclaimed the United Kingdom as a destination for Fintech.

Dimon made a quick reference to such endeavors, saying:

"Now you have a lot of politicians around the world who say there's a need; I support technology. It's kind of cute now that senators in Congress say they support Silicon Valley innovation," before adding,

They (the Government) will not support major currencies that go around borders that they don't have control over.

It's just not going to happen.


Zano