Jamie Dimon says ‘you’re a fool’ if you borrow to buy bitcoin, and that he wouldn’t care if its price increased 10 times

Jamie Dimon says ‘you’re a fool’ if you borrow to buy bitcoin, and that he wouldn’t care if its price increased 10 times

Jamie Dimon, chairman and CEO of , once again reiterated his opposing stance on cryptocurrencies in a recent September interview. "I think if you borrow money to buy bitcoin, you're a fool," the JPMorgan boss told . "I don't really care about bitcoin ... I am not a buyer of bitcoin." Dimon said "people waste too much time and breath" on the digital asset, which has seen a 50% gain year to date and hit an all-time high of nearly $65,000 in April. It is trading around $43,000 as of Monday afternoon ET. The executive did clarify that his lack of interest isn't connected to bitcoin's possible price rally. "This does not mean it can't go 10 times in the next five years," he told . "But I don't care about that." He also said cryptocurrencies will be regulated because "governments regulate just about everything." Indeed, the US Securities and Exchange Commission, under the leadership of Gary Gensler, has doubled down on its cryptocurrency clampdown. Gensler - who has called for cryptocurrencies to be regulated as securities - last week called the space a "Wild West" and compared stablecoins to . And China last week, joining a handful of countries