CEO Jamie Dimon expressed at the Australian Financial Review Business Summit in New York that he defends everyone’s right to buy Bitcoin, but he himself will never buy it and does not know what Bitcoin is used for.
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Recommendation for Fed to Cut Interest Rates After June
Jamie Dimon: I Don’t Know What Bitcoin is Used For
Recommendation for Fed to Cut Interest Rates After June
According to CNBC, Jamie Dimon first discussed the U.S. economy at the summit. He personally holds an optimistic attitude but is also concerned about inflation and potential economic recession.
The following points were made:
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The Federal Reserve should wait to cut interest rates until after June to strengthen the central bank’s credibility against inflation.
The U.S. economy is performing strongly, but the market’s expectations for an economic soft landing may be overly optimistic.
The probability of an economic recession is about 65%, while the possibility of stagflation cannot be ruled out.
The recent rise in bond and stock markets shows signs of a bubble, partly due to fiscal and monetary stimulus measures during the pandemic.
Jamie Dimon: I Don’t Know What Bitcoin is Used For
Despite JPMorgan Chase being an Authorized Participant in Bitcoin spot ETFs, Jamie Dimon has consistently criticized Bitcoin, claiming that it is primarily used for illegal purposes such as money laundering and illicit transactions.
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In this statement, he expressed:
“I don’t know what Bitcoin is used for, but I defend your right to smoke, and I defend your right to buy Bitcoin. I personally will never buy Bitcoin.”
Dimon also mentioned the application of AI and emphasized that JPMorgan Chase has 2,000 employees assisting the bank in integrating over 400 AI use cases. He also uses AI at home to summarize books that he doesn’t have time to read.
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JPMorgan Chase CEO: Actual Use of Bitcoin is Money Laundering, Satoshi Nakamoto Will Change the Total Supply Cap
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Jamie Dimon
Bitcoin
Further Reading
Noah Ark Supplements Knowledge for JPMorgan Chase CEO, Cathie Wood: Even Satoshi Nakamoto Cannot Control Bitcoin
JPMorgan Chase CEO: Actual Use of Bitcoin is Money Laundering, Satoshi Nakamoto Will Change the Total Supply Cap