In an online interview with Times of India, Jamie Dimon, CEO of investment banking behemoth JPMorgan Chase, slandered Bitcoin's popular appeal, despite stating that the leading digital asset could increase 10x in a matter of v years.

A historically staunch critic of Bitcoin (BTC), Dimon called information technology a fraud back in 2022 and cited the reported capability for criminals to evade capture from regime by operating their financial transactions in BTC rather than U.S. dollars.

When Times of Bharat asked the CEO whether Bitcoin or other cryptocurrency avails should be banned or regulated, Dimon responded:

"I don't really care about Bitcoin. I think people waste too much time and breath on it. But it is going to be regulated. [...] And that will constrain information technology to some extent. But whether it eliminates information technology, I have no idea and I don't personally care. I am non a buyer of Bitcoin. [...] That does not mean it tin can't go 10 times in price in the adjacent five years."

Despite this, JPMorgan has over the past year expressed a growing involvement in the development and implementation of crypto and blockchain initiatives.

In January, the firm purchased a 10% stake in ultra-bullish concern intelligence firm MicroStrategy, whose CEO, Michael Saylor, is one of Bitcoin's virtually renowned investors and holders.

In July, the firm created multiple worldwide job postings for blockchain developers, engineers and marketers to piece of work for its crypto-centric Onyx division — responsible for launching the banking company'south stablecoin asset, JPM Coin, in Octo 2022.

According to a recent study, JPMorgan subsidiary Counterpoint Global is considering offering cryptocurrency investments to wealthy clientele. With avails under management topping $150 billion, this would correspond a sizable stamp of approval for the rest of the banking industry.

Related: JPMorgan will reportedly requite retail wealth clients access to crypto funds

Dimon has received notable criticism for his dismissive views on digital assets, and no more so than from Wall Street veteran Max Keiser in an interview with Cointelegraph in late 2022. Keiser shared a biological illustration to limited his discontent with the banking magnate:

"Bitcoin came into existence as a spontaneous life form that grew out of our global, collective consciousness as a defense mechanism to fight predatory primal banks. Jamie Dimon is a parasite, like a tapeworm, and our species had no defense. And so with God's help, nosotros collectively willed Bitcoin into beingness to fight fiat money, fractional reserve banking and Keynesian debt-coin propaganda."