Jamie Dimon: "Taking loans to buy bitcoin is a big stupidity" – Bits Media

JPMorgan Chase CEO Jamie Dimon once again criticized Bitcoin and called people stupid, who buy it, especially on credit.

Despite the growing interest of organizations and individuals in Bitcoin, Jamie Dimon (Jamie Dimon) maintains a pessimistic attitude towards him. In recent
In an interview with the Times of India, he once again spoke disparagingly about Bitcoin and other cryptocurrencies, said, that he “doesn’t care” about them. According to Dimon, people pay too much attention to crypto assets. However, he noted, that sooner or later governments will control digital assets, because we are talking about investments.

"I don't know, what is bitcoin: active, foreign currency or security. But regulators will take control of Bitcoin, and this will limit it to some extent. But I have no idea, Will government bans eliminate Bitcoin?. Personally I don't care, because I don't hold bitcoin. I can only call those fools, who borrows money, to buy it", - said Dimon.

JPMorgan Chase CEO doesn't rule out the possibility, that in the next five years the Bitcoin rate could actually rise by 10 time. At the same time, Dimon remembered almost all the “market psychoses” over the past few centuries. He compared the rise of Bitcoin to the teddy bear craze of the 1990s., when they paid up to one toy $2000. Dimon also mentioned "tulip mania", when there was such a demand for tulip bulbs in Holland in the mid-1600s, that people were ready to sell real estate for them.

Besides, the head of JPMorgan drew an analogy between Bitcoin and the “dot-com bubble”, when in the period from 1995 years to 2000 the year saw a rise in shares of Internet companies. However, due to an ill-conceived business concept, many companies, focused on online sales, went bankrupt.

Dimon has previously dissuaded potential investors from investing in the first cryptocurrency.. Despite Dimon's criticisms of Bitcoin, in August, JPMorgan already began offering wealthy clients of its Private Bank division access to its own managed Bitcoin fund.