[NEW] JP Morgan CEO says he will "protect the right to purchase Bitcoin" - a change in negative attitude?

Jamie Dimon, CEO of the US financial giant JPMorgan, said at a business summit held in Australia on the 12th that he would "protect the right to buy Bitcoin (BTC)." Reuters and other media reported.

Dimon is known for taking a negative stance against cryptocurrencies, including Bitcoin. Last year, he strongly criticized cryptocurrencies, saying at a US Senate hearing, "If I were the government, I would shut down cryptocurrencies."

At the business summit, which he participated in online this time, he also pointed out that "Bitcoin is often used for illegal activities such as fraud and terrorism."

On the other hand, he said, "I will protect the right to smoke tobacco and I will protect the right to buy Bitcoin." These remarks suggest that there is a change in his attitude, which has consistently been negative about cryptocurrencies.

Dimon himself clearly denies that he will buy Bitcoin, adding, "I don't know what Bitcoin is for."

He continued, "If you're thinking of buying Bitcoin, I'm telling you, it's a risk. Why are you accepting it when the government is looking at these things?", emphasizing that his previous thinking has not changed.

Time for interest rate cut: "After June"

Dimon also mentioned the Fed's interest rate cut. He said, "The Fed needs to be more credible to win the fight against inflation," and indicated his position that interest rates should not be cut until after June.

He said that monetary easing "can be done quickly and dramatically at any time," and continued, "If I were the Fed, I would wait until June to get everything sorted out."

These remarks are likely to be made with the fact that the US CPI (Consumer Price Index) announced on the 12th showed an increase that exceeded market expectations.

Changes in the mindset of cryptocurrency detractors

Perhaps due to a series of price increases and the approval of a Bitcoin spot ETF in the United States this year, a change in the attitude of cryptocurrency detractors, including Bitcoin, is beginning to be seen.

On the 11th, former US President Donald Trump also mentioned that "Bitcoin is a new form of currency."

Reference: Reuters
Image: Shutterstock

Related articles

Former President Trump calls Bitcoin a "new form of currency," completely changing his stance

JP Morgan CEO strongly criticizes cryptocurrencies, "If I were the government, I would shut them down"