JPMorgan CEO Jamie Dimon says he would close down Bitcoin and crypto if he were the US Government. Speaking to senators today, the JPMorgan CEO said “I’ve always been deeply opposed to crypto, bitcoin, etc.” He points out an argument made by Sen. Elizabeth Warren that its true use is to aid criminals, including drug traffickers, and those in tax avoidance, due to its instant, near-anonymous transactions.
Dimon further says that Bitcoin and crypto can bypass sanctions, OFAC, and other systems meant to halt these quick and secret transactions.
“If I were the government I’d close it down,” Dimon concludes about Bitcoin and crypto as a whole. Jamie Dimon has been vocal in his opposition to Bitcoin especially, saying in the past that Bitcoin was “a fraud.” The top cryptocurrency has been leading the charge of a surge for multiple crypto on the current market over the past month, with SEC approval of Bitcoin ETFs on the verge of becoming a reality.
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Today, Bitcoin is just under $44,000, after reaching that mark on Tuesday for the first time since before the COVID-19 pandemic. According to CoinMarketCap, it’s in the green, valued at $43,910.65 at press time.