JPMorgan Chase CEO Jamie Dimon joins ‘Squawk Box’ to discuss his meeting with Ukrainian President Volodymyr Zelenskyy, most pressing geopolitical issues, doing business in China, state of the economy, 2024 race, bitcoin and crypto at large, commercial real estate, and more.
THAT SO — >> CAN WE PIVOT TO A TOPIC I KNOW YOU FIND SORT OF LABORIOUS AT THIS POINT? BITCOIN. >> YEAH. >> THIS ETF WAS APPROVED, JUST ABOUT A WEEK AGO NOW AND I THINK A LOT OF PEOPLE ARE TRYING TO UNDERSTAND WHAT IT ULTIMATELY MEANS
JPMORGAN, I IMAGINE, IF YOU’RE A CLIENT, YOU COULD CALL AND SAY GET ME SOME OF THIS ETF. WHAT DO YOU TELL YOUR BROKERS TO TELL THEM BACK WHEN THEY MAKE THAT CALL? >> IT IS AN POSH THING THIS IS THE LAST TIME I’M TALKING ABOUT THIS ON CNBC
SO HELP ME GOD BLOCKCHAIN IS REAL IT IS A TECHNOLOGY WE USE IT. IT IS GOING TO MOVE MONEY. IT IS GOING TO MOVE DATA IT IS EFFICIENT. WE HAVE BEEN TALKING ABOUT THAT FOR 12 YEARS I THINK WE HAVE WASTED TOO MANY WORDS ON THAT. CRYPTOCURRENCIES, TWO TYPES.
THERE IS A CRYPTOCURRENCY WHICH MIGHT ACTUALLY DO SOMETHING. THINK OF IT AS USING IT TO BUY AND SELL REAL ESTATE, MOVE DATA. >> TOKENIZING. >> TOKENIZING THINGS THAT YOU DO SOMETHING WITH AND THEN ONE WHICH DOES NOTHING. THE PET ROCK THE BITCOIN, SOMETHING LIKE THAT
AND SO ON THE BITCOIN, YOU KNOW, THERE IS — I’M NOT TRYING TO MILWAUKEE A JOKE HERE. THERE ARE USE CASES, FRAUD, ANTIMONEY LAUNDERING, TAX AVOIDANCE, SEX TRAFFICKING, 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 EVERYTHING ELSE IS PEOPLE TRADING AMONG THEMSELVES NOW, OKAY, NOW MY LAST STATEMENT, THE LAST TIME I’M TALKING ABOUT BITCOIN IS I DEFEND YOUR RIGHT TO DO BITCOIN. I THINK, YOU KNOW, IT IS OKAY. I DON’T WANT TO TELL YOU WHAT TO DO
SO MY PERSONAL ADVICE IS DON’T GET INVOLVED BUT I DON’T WANT TO TELL ANY ONE OF YOU TO DO, IT IS A FREE COUNTRY. >> WHAT DO YOU MAKE OF THE OTHER FIRMS, THE BLACKROCKS OF THE WORLD AND LARRY FINK CHANGED HIS VIEW OF THIS OBVIOUSLY AND MAYBE
HE CHANGED HIS VIEW BECAUSE YOU THINK HE GENUINELY BELIEVES IN BITCOIN OR BELIEVES IT BECAUSE HE THINKS THERE IS A MARKETPLACE FOR IT AND HE WANTS TO BE PART OF THE MARKET. THERE IS ABOUT A DOZEN BIG FINANCIAL COMPANIES, FIDELITY INCLUDED — >> NUMBER ONE, I DON’T CARE.
JUST PLEASE STOP TALKING ABOUT THIS AND I DON’T KNOW WHAT HE WOULD SAY ABOUT BLOCKCHAIN VERSUS CURRENCIES THAT DO SOMETHING VERSUS BITCOIN THAT DOES NOTHING. MAYBE THAT IS NOT DIFFERENT THAN ME BUT THIS IS WHAT MAKES THE MARKET PEOPLE HAVE OPINIONS THIS IS THE LAST TIME I’M EVER STATING MY OPINION
>> GOLD REALLY DIDN’T DO ANYTHING EITHER. >> YEAH, BUT GOLD IS LIMITED IN SUPPLY. >> SO IS BITCOIN. >> SO YOU THINK SO, HUH? >> I DO. >> I THINK THERE IS A CHANCE BITCOIN, WE GET TO 20 MILLION BITCOINS THAT — THAT SATOSHI
WILL COME ON THERE, LAUGH HYSTERICALLY, GO QUIET, ALL BITCOIN WILL BE ERASED HOW DO YOU KNOW IT IS GOING TO STOP AT — I HAVEN’T MET ONE PERSON WHO I MET THAT SAID — >> IT IS GOING TO HAPPEN THE LAST ONE MINED IN — AND IT
GETS HARDER AND HARDER JAMIE, LOOKING BACK OVER — >> YOU DO WHAT YOU WANT AND I’LL DO WHAT I WANT. >> I LOVE YOU AND I DON’T WANT TO — I DON’T WANT TO BE A — >> YOU MAY BE RIGHT. I DON’T OWN GOLD >> COUPLE OF QUICK FINAL
QUESTIONS. >> I LIKE THINGS THAT PAY ME INCOMES, THAT DOESN’T COST MONEY TO CARRY IT COSTS MONEY TO CARRY BITCOIN. >> WE TALKED ABOUT COMMERCIAL REAL ESTATE HERE IN DAVOS. A BIG PIECE ON SUNDAY — >> I THINK THERE IS ANOTHER RISK TO BITCOIN IF YOU CAN’T SOLVE THE BAD USE
CASES, THE GOVERNMENT IS PROBABLY GOING TO HAVE TO CLOSE IT DOWN. >> THE THING ABOUT THE MONEY LAUNDERING — HERE’S THE — THE NUMBER WAS 20,000 I THINK FOR U.S. DOLLARS IN MONEY LAUNDERING AND IT WAS 35 FOR HOW MUCH IS DONE WITH BITCOIN.
AT THIS POINT, THE DOMINANT — I KNOW, BUT THE DOMINANT — HISTORICALLY THE DOMINANT CURRENCY FOR MONEY LAUNDERING HAS BEEN — >> I UNDERSTAND. >> OKAY. >> QUICKLY, COMMERCIAL REAL ESTATE. >> YEAH. >> YOU HAVE A TAKE WE HAVE BEEN TALKING TO A NUMBER
OF INVESTORS WHO HAVE BEEN SITTING HERE TALKING ABOUT THAT IT MEANS TO THE DEBT MARKETS, WHAT IT MEANS TO SOME OF THE SMALLER BANKS, YOU HAVE A BIG BUILDING GOING UP, BY THE WAY, IN NEW YORK. BUT THE THREE DAY WEEK, WHAT THAT MEANS LONGER TERM
>> FIRST OF ALL, I THINK THE VALUE OF OLD STUFF, OLD FINANCIAL ASSETS IN AMERICA IS LIKE $140 TRILLION, COMMERCIAL OFFICE REAL ESTATE IS LIKE $1.2 TRILLION $600 BILLION ON BANK BOOKS CORPORATE OWNED AND STUFF LIKE THAT DIVIDE INTO THREE PIECES IF WE HAVE A SOFT LANDING, WHICH
IS POSSIBLE, AND RATES DON’T GO HIGHER, WHICH IS POSSIBLE, COULD BE A SMALL PROBLEM IF WE HAVE A HARD LANDING, AND RATES DON’T GO HIGHER, A BIGGER PROBLEM. IF WE HAVE A HARD LANDING WITH HIGHER RATES WHICH I THINK IS POSSIBLE, IT WILL BE A BIGGER PROBLEM.
>> BECAUSE INFLATION GOES UP, EVEN — >> INTEREST RATES ARE, LIKE, CONSTANT ANYTHING WITH CASH FLOW IS WORTH LESS THERE IS A RECESSION, LESS NEED FOR SPACE AND ALL THE THINGS THAT HAPPENED IN RECESSION AND STUFF LIKE THAT. AND I DON’T KNOW HOW IT IS GOING
TO AFFECT — WORK FROM HOME IS A WHOLE DIFFERENT THING. OUR BUILDING IS UNBELIEVABLE IF YOU’VE SEEN IT, WALK BY. >> IT IS GOING UP QUICK. >> I’VE TOLD YOU THIS MANY TIMES, YOU SAID ONE TIME, I’M JUST BARELY A DEMOCRAT TODAY ALL THE THINGS YOU SAID
ABOUT MAGA, WHAT YOU’RE SAYING IS REALLY TO TRY TO HELP THE DEMOCRATIC PARTY BECAUSE IT IS TOUGH LOVE IS WHAT YOU’RE USING YOU ARE NOT MAGA YOU’RE NOT GOING TO TURN INTO A REPUBLICAN, I DON’T THINK. BUT YOU REALIZE — >> I WOULD SAY I HAVE A DEMOCRATIC HEART AND A
REPUBLICAN BRAIN. >> EXACTLY >> I DO THINK MORE AND MORE THE REPUBLICANS THAT THE DEMOCRATS HAVE BIG HEARTS AND VERY SMALL BRAINS THEY SHOULD BE A LITTLE MORE THOUGHTFUL ABOUT POLICY AND HOW THINGS WORK. >> IF ON THE FRONT END ALL THE THINGS YOU’RE DOING TO TRY AND
HELP PEOPLE ACTUALLY ON THE BACK END END UP HURTING THEM, YOU NEED TO COP TO THAT SOME DAY, EVENTUALLY, AND THEY DON’T. >> I’LL COME CONFESS HERE. >> NOT YOU I’M SAYING THE — I’M NOT TALKING ABOUT YOU. THE DEMOCRATS NEED TO SAY, LOOK,
WE TRIED ALL THESE THINGS AND WE MADE THINGS WORSE. SO, AT LEAST COP TO IT. >> I WANT TO POINT, WHEN I GO TO D.C. ALL THE TIME, WE SPEND A LOT OF TIME ON THE WING NUTS THERE ARE A LOT OF CENTRIST REPUBLICANS, DEMOCRATS, WHO IF
THEY SAT HERE — >> MIGHT BE 80%. >> I DON’T UNDERSTAND, LIKE — >> PARTIALLY YOU INVITE THE WING
37 Comments
he's just worried
If they keep throwing numbers at me I'm gonna laugh because I know at the end of the day it always leads back to you Jaimie
He is already in😂😂😂
Jamie D is very mistaken. Hold dollars? Right. If he doesn’t understand inflation he shouldn’t be running a bank. Oh wait sorry he totally knows what he’s doing. Ripping us off!
What rhymes with banker?
Dont trust this guy at all
Money laundering, ppl trafficking etc have not been used before bitcoin existence with fiat btw??
US economy is growing like hot air
People should also stop shaming people in the back their roots are showing historically …. if you don't understand you're part of the problem
Jamie diamond is a criminal in a piece of s*** If he was in crypto he would be in prison
JP Morgan will collapse next week.
Of course, he doesn't like crypto. We are trying to put sanctionalized finance out of business. Because they are crooked evil Elite that sing thing no better for your life than you do
<I have about 5% of my portfolio in AAPL stock, any advice on any other stock that I can grow my $300k capital to a million dollars?
Bitcoin is used to pay. The miners for their computations are power that is where the value comes from
Yet this slime has bought bitcoin
America Listens to Me, Buy bitcoin and Keep it period…
Finance is a right for all humans no matter of borders or political opinion. In you're talking to one of the biggest criminal bankers around And that is not Hyperbly
That journalist needs a raise. I can only imagine how horrifying it must be to talk to your sponsor like that. I think Jamie pretends to be misinformed but knew everything Joe said was true
YO THIS DUDE… FAKING HELL 👀
the old world needs to expire already. 20+ more years, they will all be extinct
Do yourself a favor buy a Brian McKnight CD and shutup yeah I know he's black is that a problem??
Commenting to look back at this clown show in few years.
clown news
The first use case of the internet was largely criminal / seedy as well.
JPMorgan knows bitcoin is a threat to his business. He knows 21M is the hard cap. He knows USD is the main currency for money laundering and illicit activities.
He just has to say and do things in his best interest
This is insane how you guys treat this like a joke when there are celebrities who know the majority of you guys reporting on an issue that doesn't involve any of you and yet you guys have the most to say
he's so full of it. after the big money fills their bags, then magically they are are going to be pro bitcoin. 1. there is almost no bitcoin left circulating. 2. supply shock coming with etf approval, and the coming having. simply put…price go up. final point…the big money are filling their bags. end of story. and btc is going to go into the millions of dollars per unit, and beyond. like the saying goes, "everyone will get bitcoin at the price they deserve." bad money out and good money in, and it's going to be bitcoin.
The U.S dollar is the number use for money laundry. I know we know you know your company has fraudulent cases out the wazoo
Blockchain is not efficient. It’s a database between Monteursfrauen agents. But without an incentive of agents to share it, there’s little advantage. It’s much older than Bitcoin and should not come as anything new
they want ETH bc look at the ETH logo now compare that with Illuminati
Breaking News: US Bank CEO wants the world to use his system and not the trustless peer-to-peer system.
Don't be fooled by these clowns like Jamie. They'd love crypto…. if they had full control of it. Which is why they are working on their own coins behind the scenes while they bash bitcoin.
Hahaha awww poor Jamie… are you scared?? Your precious little bank gonna collapse baby??
This guy is evil 😈
BITCOIN TO THE MOON!
Jamie Dimon: „I’d defend your right to own Bitcoin“
Also Jamie dimon: „if I was the government, I’d shut it down“
You can’t have the cake and eat it, too.
Sounds like he is talking about cash; aml, fraud, tax avoidande, trafficking…, these are all real usecases of cash, but WITH the inconvinience of government moneyprinting, thus causing dilution provoking inflation. My personal advice is: ignore this man, he might be rich, but he obviously didn´t understand why bitcoin was created.
Jamie knows nothing about Bitcoin. He really shouldn’t talk about things he doesn’t know. He is very ignorant on the subject.