JP Morgan CEO Jamie Dimon, known for his skepticism towards Bitcoin, recently expressed his views on the leading cryptocurrency once again. While some view Bitcoin as a valuable currency, others argue that it lacks value altogether. However, with Bitcoin’s steady growth, Dimon continues to criticize it. Speaking at the Australian Financial Review business summit, he claimed that most of Bitcoin’s practical uses are for illegal activities like sex trafficking, fraud, and terrorism. Dimon emphasized that he will never personally buy Bitcoin, but he defends individuals’ rights to smoke or purchase the cryptocurrency.
In addition to his remarks on Bitcoin, Dimon also commented on the Federal Reserve’s interest rate cuts. He recommended that the FED exercise caution when reducing inflation and suggested waiting until June before implementing any interest rate cuts. Dimon believes the FED should base its decisions on data and that reducing interest rates too quickly could pose risks to decreasing inflation. He emphasized the uncertainty surrounding whether inflation has reached the desired level. If he were in charge, Dimon would allow time for the situation to unfold and make a decision in June.
Disclaimer: This text does not provide investment advice.