JPMorgan CEO Dimon Labels Bitcoin a 'Ponzi Scheme' Used by Sex Traffickers, Money Launderers

Jan 13, 2025, 03:24 PM

JPMorgan Chase CEO Jamie Dimon has once again criticized Bitcoin, labeling it a "Ponzi scheme" with "no intrinsic value." In an interview, Dimon compared Bitcoin to smoking, saying, "It's like smoking: legal but not smart," and added, "I just don't feel great about Bitcoin." He asserted that Bitcoin is heavily used by sex traffickers, money launderers, and in ransomware attacks. Despite his public disapproval, JPMorgan continues to facilitate client investments in Bitcoin ETFs, acting as an Authorized Participant for such funds.