JPMorgan CEO: Bitcoin is like a "Pet Rock", cryptocurrencies could have value if embedded with smart contracts

JPMorgan CEO Jamie Dimon stated that there is a fundamental difference between blockchain and cryptocurrency. The latter, if embedded with smart contracts, could potentially have value, similar to the tokenization of physical assets. However, Bitcoin is likened to "pet rocks", suggesting that retail investors should not get involved in Bitcoin. He jokingly added that this would be his last time discussing this controversial asset on CNBC. (A pet rock refers to a rock kept as a pet.)