BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

JPMorgan CEO Jamie Dimon Labels Bitcoin a ‘Ponzi Scheme’ with No Value

Michael Juanico by Michael Juanico
January 13, 2025
in CRYPTO, OPINION
Reading Time: 3 mins read
16
SHARES
266
VIEWS
Share on XShare in TelegramShare on Reddit
  • JPMorgan CEO Jamie Dimon calls Bitcoin a “Ponzi scheme” with no intrinsic value.
  • Despite criticism, BTC reached $100,000 in 2024 and could hit $120,000 soon.
  • Dimon supports crypto innovation but criticizes Bitcoin for its alleged misuse in crimes.

JPMorgan Chase CEO Jamie Dimon has made headlines again with sharp criticism of Bitcoin. In a recent CBS interview, Dimon labeled the world’s largest cryptocurrency a “Ponzi scheme” and claimed it has “no intrinsic value.” This comes at a time when Bitcoin, despite its critics, has achieved remarkable milestones, including breaking the $100,000 mark in 2024, fueled by institutional backing like BlackRock’s Bitcoin ETF.

NEW: JPMorgan Chase CEO Jamie Dimon has reiterated that Bitcoin $BTC is a "Ponzi scheme" with no intrinsic value as it dumped to $89,000 😂 pic.twitter.com/knmIyxtLAY

— BlockNews (@blocknewsdotcom) January 13, 2025

While Dimon has always been vocal about his doubts regarding Bitcoin, his stance contrasts sharply with the asset’s growing adoption and success. Calling BTC a “pet rock,” Dimon dismisses it as little more than hype, even as its market cap continues to dominate the crypto space.

Mixed Signals: Dimon Supports Crypto, Not Bitcoin

Interestingly, Dimon’s criticism of Bitcoin doesn’t extend to all cryptocurrencies. He’s expressed support for the broader concept of digital currencies, stating, “We are going to have some kind of digital currency at some point. I’m not against crypto.” However, his concerns about Bitcoin’s use in illegal activities, like money laundering and ransomware, overshadow his acknowledgment of blockchain technology’s potential.

Comparing Bitcoin to smoking, Dimon quipped, “I applaud your ability to want to buy or sell it. Just like I think you have the right to smoke, but I don’t think you should smoke.” His harsh words come at a time when BTC’s value is predicted to soar even higher, with projections of $120,000 by the end of January 2025.

Bitcoin’s Success Challenges Dimon’s Narrative

Dimon’s skepticism stands in stark contrast to Bitcoin’s recent milestones. The cryptocurrency reached an all-time high of $100,000 in late 2024, partly thanks to the introduction of a Bitcoin ETF by BlackRock, an $11 trillion asset manager. With Bitcoin now on track to hit $120,000, Dimon’s comments may feel out of sync with the asset’s trajectory.

It’s worth noting that the cryptocurrency market continues to thrive, regardless of critiques from major financial institutions. Whether JPMorgan’s stance will have any significant impact on Bitcoin’s momentum remains to be seen. One thing’s for sure: Bitcoin’s ability to defy expectations makes it a topic that won’t be fading from headlines anytime soon.

Tags: BitcoinBlackRock’s Bitcoin ETFJamie DimonJPMorganPonzi Scheme
Tweet4ShareShare
Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University. He has been a Content Writer since 2019, covering a wide range of topics. His interest in crypto began in 2021, eventually becoming his main focus. For almost four years, he has worked with Aiur Labs and holds BTC, TRON, and a few memecoins.

DON'T MISS THESE! HOT OFF THE PRESS

XRP Battles to Hold $2.74 as Bearish Pressure Mounts
CRYPTO

XRP Battles to Hold $2.74 as Bearish Pressure Mounts

August 31, 2025
Ethereum at a Crossroads as Price Pulls Back from Highs
CRYPTO

Ethereum at a Crossroads as Price Pulls Back from Highs

August 30, 2025
Dogecoin Rebounds as Elon Musk’s Lawyer Pushes Bold $200M Treasury Plan
BUSINESS

Dogecoin Rebounds as Elon Musk’s Lawyer Pushes Bold $200M Treasury Plan

August 30, 2025
Pudgy Penguins’ Mobile Game Launch Sparks Bullish Predictions for PENGU Token
CRYPTO

Pudgy Penguins’ Mobile Game Launch Sparks Bullish Predictions for PENGU Token

August 30, 2025
Bitcoin Skepticism Won’t Go Away—Even at $10 Million, Says Adviser
BITCOIN

Bitcoin Skepticism Won’t Go Away—Even at $10 Million, Says Adviser

August 30, 2025
Indian Court Hands Life Sentences to Ex-Politician and Police Officers Over Bitcoin Kidnapping Plot
BITCOIN

Indian Court Hands Life Sentences to Ex-Politician and Police Officers Over Bitcoin Kidnapping Plot

August 30, 2025
Load More

Related News

XRP Battles to Hold $2.74 as Bearish Pressure Mounts

XRP Battles to Hold $2.74 as Bearish Pressure Mounts

August 31, 2025
Ethereum at a Crossroads as Price Pulls Back from Highs

Ethereum at a Crossroads as Price Pulls Back from Highs

August 30, 2025
Dogecoin Rebounds as Elon Musk’s Lawyer Pushes Bold $200M Treasury Plan

Dogecoin Rebounds as Elon Musk’s Lawyer Pushes Bold $200M Treasury Plan

August 30, 2025
Pudgy Penguins’ Mobile Game Launch Sparks Bullish Predictions for PENGU Token

Pudgy Penguins’ Mobile Game Launch Sparks Bullish Predictions for PENGU Token

August 30, 2025
Bitcoin Skepticism Won’t Go Away—Even at $10 Million, Says Adviser

Bitcoin Skepticism Won’t Go Away—Even at $10 Million, Says Adviser

August 30, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews