It has already become a rule of thumb for analysts to make dismal forecasts for bitcoin after its stellar rally. As soon as bitcoin hits a new all-time high, some analysts turn into the prophets of doom. They start making gloomy forecasts on BTC, predicting its inevitable fall in the near future.
JPMorgan Chase CEO Jamie Dimon is one of them. He rarely misses the opportunity to criticize the number one cryptocurrency, especially in the moments of its sharp swings. Apart from that, he is well known for his controversial forecasts on bitcoin. He may either lash out at BTC calling it fool’s gold or praise it to the skies. This time, he is among those who doubt bitcoin’s bright prospects.
Not long ago, Dimon stressed that the prospects for bitcoin are rather dubious. He believes that the cryptocurrency with the highest market cap is highly likely to have no future.
It is quite surprising to hear such harsh criticism from a person who said that JPMorgan would issue a digital currency called JPM Coin. In October 2020, he announced the creation of a blockchain division. Yet, Dimon has always repeated that he adheres to conservative views on cryptocurrency. However, the CEO puts aside his personal preferences on the crypto market as he always takes into account the wishes of customers who do not always follow his recommendations.
"Our clients are adults. They disagree. That's what makes markets. So, if they want to have access to buy yourself bitcoin, we can't custody it but we can give them legitimate, as clean as possible, access."