Jamie Dimon, the CEO of JPMorgan Chase, the largest bank in the U.S., gave his congressional testimony before the House of Financial Services Committee regarding cryptocurrency on Thursday. While admitting that JPMorgan’s clients are interested in investing in bitcoin.
“We are debating should we make it available in some way, in a safe way, that people can buy and sell it” and put it in their financial statements and balance sheets, the JPMorgan CEO continued. “But my own personal view, it’s nothing like a fiat currency. It’s nothing like gold. Buyer beware.”
Dimon clarified that his statements only apply to cryptocurrencies, not blockchains or stablecoins, which are “supported by assets,” he said.
The JPMorgan boss further emphasized that his personal views do not influence the financial services that JPMorgan Chase offers to its clients. “A lot of our clients are asking, ‘can we help them buy or sell cryptocurrency?” Dimon said at JPMorgan Chase’s annual shareholder meeting last week. “And we’re investing in that as we speak.”