Dimon once again attacked the top cryptocurrency, calling it “worthless” during a virtual summit Monday.
“Our clients are adults, they disagree. That’s what makes markets. If they want access to buy and sell bitcoin…we can give them legitimate, clean-as-possible access,” he said.
Still, Dimon’s sarcastic remarks about bitcoin come as the price of the cryptocurrency has surged in recent weeks to about $57,000. Bitcoin has nearly doubled this year and is now only about 12% below the all-time high of just under $65,000 earlier this year.
Dimon has been a bitcoin bear for the past few years — despite that it has soared in value along with other cryptocurrencies.
Dimon also predicted that “regulators are going to regulate the hell out of it.”
Attacking bitcoin for years but the crypto keeps climbing
So time will tell if Dimon winds up being right to repeatedly question bitcoin’s value. But his continued attack on the cryptocurrency seems to be falling on deaf ears with investors.
“Jamie Dimon calling Bitcoin ‘worthless’ is nothing new and has been shrugged off by the market,” said Nicholas Cawley, analyst at DailyFX, in a report Tuesday.
Cawley added that since Dimon referred to bitcoin as being worse than the Dutch tulip mania bubble of the 1600s four years ago, bitcoin has surged from about $4,500 to its current price approaching $60,000.
JPMorgan Chase will report earnings for the third quarter Wednesday morning. Investors will be tuning in to see if Dimon has any more choice comments about bitcoin during either the media or analyst conference calls.