Cautious Dimon Tells Crypto World to “Just Beware”

Jaime Dimon

“Just beware,” was all Jaime Dimon remarked in a joint interview together with Warren Buffett on June 7.

Dimon is the CEO of J.P Morgan Chase, a Wall Street investment bank, while Buffett is a billionaire investor. Both were asked regarding their expert opinion on cryptocurrency, even though the world is already aware of their blatant distaste.

This was uncharacteristic for Dimon, since his earlier statements reflected how he believes Bitcoin to be a ‘fraud’, something he regretted to have said.

He also revealed his reservations on the subject matter, saying that he doesn’t “wanna be the Bitcoin spokesman.” Hence, his advice to the world to be careful in dealing with cryptocurrencies as well as in joining the crypto bandwagon.

On the other hand, Warren Buffett maintained his position, saying that “I [Buffet] set a high standard,” adding his uncertainty “whether Jaime [Dimon] can top me or not.”

Buffett made strong remarks on cryptocurrencies in May, telling that to him, Bitcoin is “rat poison squared.”

He also said that “[Bitcoin] itself is creating nothing,” expounding that “when you’re buying nonproductive assets, all you’re counting on is the next person is going to pay you more because they’re even more excited about another next person coming along.”

(photo credits: Jaime Dimon)

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