In a recent interview with CNBC’s Squawk Box, JP Morgan CEO Jamie Dimon talked about Bitcoin (BTC), cryptographic schemes, and blockchain. On January 19, 2023, Dimon said, “Bitcoin itself is a hyped scam, cryptocurrencies are decentralized Ponzi he’s schemes… pet he’s rock.” He sees cryptocurrencies as a pastime.
Dimon said he wasn’t worried about the recession at all, but about poor public policy. He expects interest rates to rise above 5%, while inflation remains high.
JP Morgan CEO has said blockchain is a technological ledger system used to transfer information. and called it a decentralized Ponzi scheme.”
Dimon reiterated his doubts about BTC’s 21 million supply cap, suggesting that Bitcoin pseudonym creator Satoshi Nakamoto may remove the cryptocurrency’s supply cap.
JPMorgan Chase & Company is a New York-based global banking and financial services company. Last week, the company announced his fourth quarter 2022 results. Net income of $11 billion, EPS of $3.57 and return on tangible common equity (ROTCE) of 20%.
JP Morgan’s CEO commented on financial results that his company “reported strong results in the fourth quarter.” Net income of $11 billion and he earned $34.5 billion while maintaining the Fortress balance sheet and making all necessary investments.
Dimon concludes: In 2022, we raised $2.4 trillion in capital by extending credit to small businesses, governments and U.S. consumers. ”
Meanwhile, cryptocurrencies lost more than half in 2022, but are now consolidating as the prices of Bitcoin (BTC) and Ethereum (ETH) steadily rise. After a year of turmoil and strong negative market sentiment, BTC has crossed his $22,000 level and predicted a positive signal. With the rise of the dominant cryptocurrency, the global cryptocurrency market has regained his $1 trillion.
At the time of writing, the global cryptocurrency market capitalization is $1.04 trillion, up 6.50% from the previous day. The total volume of the cryptocurrency market in the last 24 hours is about $56.73 billion, an increase of about 39.31%. However, Bitcoin’s dominance is around 41.85%, an increase of 0.48% in one day.
Andrew is a blockchain developer who developed an interest in cryptocurrencies after graduating. He is a keen observer of detail and shares his passion for writing as much as he is a developer.His backend knowledge of blockchain helps give his writing a unique perspective
