Berkshire Hathaway CEO Warren Buffett and J.P. Morgan chief executive Jamie Dimon weigh in on cryptocurrencies on CNBC.
Jamie Dimon, CEO of Wall Street investment bank J.P Morgan Chase spoke to CNBC during a segment together with billionaire investor Warren Buffett. During the interview, both of them were asked about their views on cryptocurrencies.
The subject sparked more than a slight degree of controversy. They were asked which one of them hates Bitcoin more.
Dimon branded Bitcoin as “fraud” last fall but he later reportedly said that he regretted those comments.
Dimon advises the world to beware of Bitcoin
Now, his remarks were far more measured, and here’s what he told CNBC (according to a published transcript):
“I don’t wanna be the Bitcoin spokesman. You know, just beware.”
Buffett said yesterday that “I set a high standard” referring to his commentary – he said in January that cryptocurrencies “will come to a bad ending” – and he also added that “I don’t know whether Jamie can top me or not.”
Last month, he said that to him, Bitcoin is “rat poison squared.”
“[Bitcoin] itself is creating nothing,” he told CNBC back then. “When you’re buying nonproductive assets, all you’re counting on is the next person is going to pay you more because they’re even more excited about another next person coming along.”