Key Words: JP Morgan CEO Jamie Dimon says ‘bitcoin is worthless’ amid crypto bull run

This post was originally published on this site

Jamie Dimon, chief executive officer of JPMorgan Chase
JPM,
-2.07%
,
said that “I personally think that Bitcoin is worthless” on Monday, reiterating his past comments. 

But the banking giant will offer its clients exposure to bitcoin, Dimon said, while briefly speaking at the annual Institute of International Finance event. 

“Our clients are adults. They disagree. That’s what makes markets,” Dimon said. “So, if they want to have access to buy yourself bitcoin, we can’t custody it but we could give them legitimate, as clean as possible, access.” 

JPMorgan started giving its wealth management clients access to crypto funds in July.

Bitcoin
BTCUSD,
+3.40%

on Monday surpassed $57,500, recently trading at $57,406, with a 15.6% gain over the past 7 days. Ether
ETHUSD,
-0.54%

is recently trading at $3,557, up 1% over the past 24 hours.

The crypto community on Twitter highlighted bitcoin’s latest bullish levels against Dimon’s past comments.

Check out: Jamie Dimon is expecting the consumer to carry the economy through current bumps back to growth

Read: A major crypto hedge-fund manager expects bitcoin to tumble once the SEC greenlights a bitcoin-backed ETF — here’s why