During the J.P. Morgan 41st Annual Healthcare Conference, CEO Jamie Dimon called Bitcoin a "decentralized Ponzi scheme".
Dimon has made a point of publicly criticizing Bitcoin and other cryptocurrencies. He made headlines in 2017 when he referred to Bitcoin as a "fraud" and threatened to terminate any JPMorgan traders who were found trading it.
After sometime, Dimon changed his tone a little and even said he thought blockchain technology had certain use cases. Despite its CEO's opinions in cryptocurrencies, JPMorgan has frequently experimented with the technology.
Dimon has vehemently criticized Bitcoin itself. Dimon views it as a "speculative asset" that will never be able to fully replace or function as a flawless payment system.
He argues that cryptocurrencies are more commonly used for illegal activity than for legitimate purposes, and he emphasizes the fact that most individuals possess them as investment vehicles because of how dramatically their prices fluctuate, rather than using them to pay for goods and services.
As in 2017, Dimon no longer explicitly criticizes crypto assets severely, but he is still hesitant to recognize them as anything more than risky speculative instruments that have no intrinsic value.
