Longtime crypto skeptic JPMorgan chief government Jamie Dimon says he won’t ever purchase Bitcoin (BTC) even because the digital asset soars to a brand new all-time excessive (ATH).
In a brand new Reuters report, Dimon continues his criticism of Bitcoin throughout remarks on the Australian Monetary Evaluate enterprise summit throughout a stay stream from New York.
He questions the very objective of Bitcoin and once more pushes the narrative that BTC is used for criminal activity like intercourse trafficking, fraud and terrorism – though crypto supporters have argued the US greenback is extra generally used for legal exercise than digital property.
Says Dimon,
“I don’t know what the Bitcoin itself is for, however I defend your proper to smoke a cigarette, I’ll defend your proper to purchase a Bitcoin. I received’t personally ever purchase a Bitcoin.”
In his remarks, Dimon additionally means that the Federal Reserve shouldn’t begin chopping charges till after June.
“I feel they must be data-dependent. If I have been them, I might wait. You may at all times lower it rapidly and dramatically. Their credibility is slightly bit at stake right here. I might even wait previous June and let all of it kind it out.”
Dimon thinks that whereas the US financial system is robust there’s a 65% probability of some kind of recession occurring.
In response to Reuters, markets consider there’s an 84% chance that the Fed will decrease charges in June and have priced in 90 foundation factors of cuts by the top of the yr. The present Fed charge is 550 foundation factors.
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