JPMorgan chief says bitcoin has no value

Jamie Dimon criticized the first cryptocurrency, but announced the interest of the bank's clients in it.

Bitcoincosts nothing, says the chairman of the councilof directors and CEO of investment bank JPMorgan Chase Jamie Dimon. He spoke at the Institute of International Finance (IIF) event on Monday, October 11, CNBC reported.

"I do not care.It (bitcoin) doesn't matter to me. Our clients are adults. They disagree. But that's how markets work. Therefore, if they want to be able to buy bitcoin, we cannot store it, but we can provide access as legal and transparent as possible, ”said Daimon.

In August, an investment bank provided the wealthyclients access to their own bitcoin fund. According to Coindesk sources, the passively managed bitcoin fund was launched by JPMorgan in partnership with NYDIG (New York Digital Investment Group).

Also in July, JPMorgan became the first of the largestAmerican investment banks provided clients with access to cryptocurrency funds. Since July 19, JPMorgan financial advisors have been able to offer their clients investments in four Grayscale funds (Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust and Ethereum Classic Trust), as well as in the Osprey Bitcoin Trust.

At the same time, Daimon regularly criticizes cryptocurrencies.For example, in October, he reiterated that bitcoin has no intrinsic value. And in May, he urged to stay away from cryptocurrencies, speaking at a meeting of the House of Representatives Financial Services Committee.

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