JPMorgan CEO Jamie Dimon, known for his past criticism of Bitcoin, acknowledges individuals' right to invest in crypto while expressing concerns about its ties to illegal activities.

Dimon, in a recent CNBC interview, highlighted ongoing issues regarding cryptocurrencies' involvement in fraud and terrorism. Despite his reservations, he stated his support for defending individuals' rights to purchase cryptocurrencies, although personally, he remains hesitant to do so.

"I don't understand the purpose of Bitcoin itself, but I support your right to smoke a cigarette; I'll support your right to buy a Bitcoin. However, I won't personally invest in Bitcoin," Dimon stated.

This marks Dimon's second public discussion about Bitcoin this year, following his previous announcement in January where he declared he would cease discussing crypto with CNBC.

However, his recent comments seem to contradict earlier statements, such as his assertion in December 2023 that he would shut down Bitcoin and other cryptocurrencies if representing the American people. This statement was made during a congressional hearing in response to concerns raised by Senator Elizabeth Warren about crypto regulation and compliance. However, as clarified by Chainalysis, less than 1% of crypto transactions are tied to illegal activities.

At the time of reporting, Bitcoin is trading at $72,110, marking a year-to-date increase of over 70%, according to data from Yahoo Finance.