On Thursday (19 January 2023), Jamie Dimon, the Chairman of the Board and CEO of global finances services firm JPMorgan Chase & Co., shared his thoughts on blockchain and crypto during an interview on CNBC’s “Squawk Box” from the World Economic Forum (16-20 January 2023) in Davos, Switzerland.

Dimon, who likes blockchain technology, but is a well-known harsh critic of Bitcoin and other cryptocurrencies, made these comments while being interviewed by Joe Kernen, Becky Quick, and Andrew Ross Sorkin, who are co-anchors of “Squawk Box”.

Regarding Bitcoin, the JPMorgan Chase CEO said:

“Why you guys waste any breath on this is totally beyond me… Bitcoin itself is a hyped-up fraud. It’s a pet rock… Blockchain is a technology ledger system that we use to move information… We’ve used it to do overnight intraday repo… We’ve used it to move money… So that is a ledger. That’s a technology ledger type of thing that we think will be deployable, but remember we’ve been talking about that for 12 years too, and very little has been done.“