JPMorgan CEO Says He Does Not Care If BTC Grows Ten Tines In Next Five Years

Investing in BTC has arguably been the new trend and the most discussed investment topic in the finance industry currently. The evolution of digital assets has seen people allocating a portion of their budget into BTC investments. For those that don’t have much fiat to venture into BTC, borrowing BTC became the next option.

When it comes to borrowing BTC to invest, it is not only individuals that are caught in this web as institutional investors do the same too. An example is when the leading institutional bitcoin investor, MicroStrategy, borrowed $600 million in February to acquire more Bitcoin. Borrowing to invest has been a growing trend in the cryptocurrency market. But the CEO of JPMorgan has tagged this as a foolish act.

Do Not Borrow to Invest in BTC

In an interview with Jamie Dimon, the CEO of JPMorgan by the Times of India on Bitcoin, he spoke first in the popularity where he said he believes people are wasting their time and energy on digital assets as he stated that he doesn’t care about crypto. He further revealed that he doesn’t have any personal investment in the space. Speaking further about crypto involvement, he said, “I think you are a fool if you borrow money to invest in Bitcoin.”

The CEO also said since the government regulates everything, they will eventually regulate cryptocurrency. Recently, crypto regulation has been a major topic on the table of the SEC, and Dimon believes that the government will regulate it though he is not sure how it will be done. However, he believes that regulation will constrain the asset class.

The Asset May Increase Ten Times in the Next 5 Years

Since its inception, BTC has recorded a huge success. The digital asset has increased by 400,000% since it was first released over ten years ago. The massive growth recorded in the past has given credence to the prediction of the future price placed on BTC. Though the CEO is not a believer in the asset, he did believe that it has the potential to increase ten times its present value in the next five years.

With that said, the CEO said no one could predict where the asset will land in years to come. He referenced some other booming investments that took over the market but were worth nothing a couple of years after, like the popular beanie babies and internet stocks.

Jamie Dimon also noted that speculation is a common phenomenon in each market, and it is what drives the financial market. “For me,” he said, “I don’t understand the surprise that comes with speculation in a system with liquidity.”