'He Still Knows It's Ponzi': Peter Schiff Clarifies JP Morgan CEO's Bitcoin Stance

Source: CryptoNewsNet Original Title: ‘He Still Knows It’s Ponzi’: Peter Schiff Clarifies JP Morgan CEO’s Bitcoin Stance Original Link:

Dimon Praises Blockchain Technology

During a live TV session with Fox Business, JPMorgan CEO Jamie Dimon described blockchain technology as real, faster, and cheaper, acknowledging that JPMorgan has been moving trillions of dollars a day on blockchain.

A viral X post interpreted Dimon’s praises on blockchain as a major reversal after years of him calling Bitcoin a fraud. The post highlighted JPMorgan’s growing blockchain initiatives, including its stablecoin on Base, real-world asset tokenization, and on-chain settlement experiments.

Schiff’s Clarification

However, Bitcoin critic Peter Schiff issued an unfriendly response, clarifying that the JPMorgan CEO’s stance on Bitcoin itself has not changed. Schiff explained that Dimon’s comments were strictly about blockchain technology and stablecoins, not Bitcoin, drawing a clear line between enterprise use cases of blockchain and Bitcoin’s monetary infrastructure.

According to Schiff, interpreting Dimon’s remarks as a bullish stance for Bitcoin is misleading. He strongly believes that the JPMorgan CEO still views Bitcoin as a Ponzi scheme, and his long-standing criticism of Bitcoin remains unchanged.

Key Takeaway: Institutional blockchain adoption does not necessarily mean support for Bitcoin.