“These crypto things are kind of a novelty” — Jamie Dimon
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In this quote, Jamie Dimon, who is the CEO of JPMorgan Chase, is dismissing cryptocurrencies like Bitcoin as a “novelty” or a passing trend. By describing crypto as “kind of a novelty”, Dimon is suggesting that he does not see cryptocurrencies as a serious or lasting development in finance. He seems to view them as more of a temporary curiosity or fad rather than a genuine innovation or assetclass.
Dimon’s tone implies skepticism toward cryptocurrencies gaining widespread mainstream use and legitimacy. The quote reflects Dimon’s perspective as the head of a major traditional bank that sees cryptocurrencies as competition, and so he may be downplaying their potential significance and longevity in the financial system.