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Edward Snowden Shocked at Jamie Dimon's New Bitcoin Criticism Level

Published 01/24/2024, 11:27 AM
Updated 01/24/2024, 11:30 AM
© Reuters Edward Snowden Shocked at Jamie Dimon's New Bitcoin Criticism Level

U.Today - Famous U.S. whistleblower Edward Snowden has taken to the X/Twitter platform to direct a bit of a critique at JP Morgan chief executive officer Jamie Dimon over his recent Bitcoin criticism shared during the Davos event.

Overall, Snowden was not the only Bitcoiner who responded to that on Twitter among the Bitcoin community. Michael Saylor and Samson Mow were also among those who commented on Dimon’s anti-Bitcoin statement.

Snowden bashes Dimon as JP Morgan CEO "transforms"

The SEC finally issued approval for spot Bitcoin ETFs earlier this month after years of rejecting any attempts to launch this product and approving futures Bitcoin ETFs only a few years ago. Among the companies that filed for launching a spot BTC product were BlackRock (NYSE:BLK), Ark Invest, VanEck and Fidelity.

Dimon criticizing Bitcoin in Davos

Head of MicroStrategy Michael Saylor responded to Dimon, posting a sarcastic tweet about him, referring to Bitcoin as a “pet rock” that “does nothing" other than allowing people to own something they can "trade among themselves" without fear of debasement or theft.”

Some believe that Dimon simply fears that Bitcoin can disrupt the entire banking system. However, Samson Mow reckons that Bitcoin does not need to do that since many large banks in the U.S. and other countries have already begun embracing Bitcoin and offering BTC services to their customers.

Aside from his usual criticism about Bitcoin’s use cases being criminal activities, money laundering and tax evasion, this time Dimon time also stated that he doubts Bitcoin is limited to 21 million coins, which, according to him, dispels the quality loved by Bitcoiners – scarcity.

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This article was originally published on U.Today

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