I Would ‘Close Down’ Crypto If I Were the Government, Says JPMorgan’s CEO

JPMorgan CEO Jamie Dimon has declared his distain for cryptocurrencies in a recent United States Senate Hearing.

“I have always been deeply opposed to crypto, Bitcoin, etc,” says Dixon.

Jamie Dimon Says No To Crypto

Jamie Dimon has been pushing for crypto regulations for several years. In April 2021, BeInCrypto reported that Dimon addressed crypto while speaking about JPMorgan’s 2020 annual report:

““There are serious emerging issues that need to be dealt with – and rather quickly: the growth of shadow banking, the legal and regulatory status of cryptocurrencies,” Jamie Dimon stated.

Read more: How To Prepare for a Bitcoin ETF: A Step-by-Step Approach

Despite Dimon’s comments, JPMorgan has been making regular forecasts on crypto, and especially Bitcoin in recent times.

On October 12, the investment firm made a more technical forecast, predicting a 20% drop in Bitcoin Network’s Hash Rate after the Bitcoin halving occurs in April 2024.

JPMorgan’s Recent Crypto Forecasts

The Bitcoin halving occurs every four years, and it involves a reduction in Bitcoin miners’ rewards by half. It aims to mitigate inflation.

Meanwhile, it goes on to state that the four-year block reward opportunity totals approximately $20 billion. This prediction was based on Bitcoin’s current price.

However, Bitcoin’s price has surged over the past month.

At the time of publication, Bitcoin’s price is $43,222.

However, it underscores a substantial decrease of around 72% from a little over two years ago.

Read more: How To Open a Bitcoin Account in 3 Easy Steps

The post I Would ‘Close Down’ Crypto If I Were the Government, Says JPMorgan’s CEO appeared first on BeInCrypto.

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