Updated on:12/14/2025 04:31 PM 
JPMorgan Chase CEO Jamie Dimon once again voiced his strong reservations about Bitcoin during an April 18 appearance on Bloomberg TV, labeling the cryptocurrency a "fraud" and "Ponzi scheme" – even as his institution continues to play a significant role in the digital asset ecosystem.
Dimon, who has consistently maintained a skeptical position on digital currencies, elaborated on his doubts regarding Bitcoin's practical applications and its legitimacy as a monetary instrument during the television interview.
His comments included:
Remarkably, while the JPMorgan chief continues to publicly criticize Bitcoin, the financial giant has functioned as an Authorized Participant for spot Bitcoin exchange-traded funds since their inception and has actively participated in numerous blockchain initiatives for several years.
Despite his overall negative stance, Dimon did recognize certain promising aspects of blockchain technology during the interview, particularly applications involving smart contracts. He noted:
The banking veteran's latest remarks come during a period of significant volatility in cryptocurrency markets, with Bitcoin recently recovering to trade near the $63,000 level – substantially above its recent lows but still considerably below its previous all-time peak.
Throughout his career, Dimon has frequently expressed concerns about digital currencies, emphasizing their potential to facilitate illicit activities including money laundering, fraudulent schemes, and tax avoidance – concerns stemming from their pseudonymous nature and limited regulatory oversight.
The influential banker has previously advocated for enhanced regulatory frameworks to mitigate financial risks associated with cryptocurrency transactions.
Nevertheless, despite Dimon's persistent criticism, the cryptocurrency sector has demonstrated remarkable resilience and expansion, with Bitcoin's total market valuation recently exceeding $1.2 trillion. The executive's statements underscore the continuing discourse within traditional financial circles regarding the long-term viability and security of cryptocurrency investments.
Market observers point out that while critical perspectives like Dimon's are prevalent among established financial leaders, the ongoing innovation and increasing adoption of blockchain technologies show no indication of decelerating. As regulatory discussions evolve, the future trajectory of digital assets remains a fiercely contested subject across international financial markets.
