At the World Economic Forum annual meeting in Davos, Switzerland, JPMorgan Chase CEO Jamie Dimon stated on CNBC that Bitcoin "does nothing."

"I’m not trying to make a joke here; there are use cases: AML, fraud, Anti-Money Laundering, tax avoidance, sex trafficking," he asserted, reiterating long-standing, widely refuted critiques of Bitcoin.

Those are real use cases and you see it being used for hundreds — maybe $50-$100 billion a year for that. That is the end use case.

Dimon also declared his intention to not bring up Bitcoin on the network again, requesting that the hosts "stop talking about this sh*t." Dimon has made similar pledges to avoid mentioning Bitcoin in the past.

When questioned about his views on the recent series of spot Bitcoin exchange-traded fund (ETF) launches, he expressed indifference towards competitors adopting Bitcoin.

Regarding the distinction between Blockchain technology and functional currencies as opposed to Bitcoin, which he believes accomplishes nothing, he stated, "I don’t know what he would say about Blockchain versus currencies that do something versus Bitcoin that does nothing; it may be a lot different than me." 

He was referring to Larry Fink, the CEO of BlackRock, whose iShares Bitcoin Trust (IBIT) ETF attracted over $700 million (or 16,362 Bitcoin) in inflows within its first three days. Despite Dimon's statements, it's notable that JPMorgan Chase is among the Authorized Participants for BlackRock's spot Bitcoin ETF.

But this is what makes a market — people have opinions, and this is the last time I’m ever going to state my opinion.
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