America’s biggest bank plans to launch a digital retail lender in Germany, Europe’s biggest economy but one with a notoriously unprofitable banking sector.

The crypto's main uses are for sex trafficking, money laundering and ransomware, claimed Dimon, a longtime foe of bitcoin (BTC).

“Bitcoin itself has no intrinsic value,” Dimon said in an interview with CBS News ( PARA) Sunday. “It’s used heavily by sex traffickers, by money launderers, ransomware. So I just don’t feel great about Bitcoin.”

As chairman and CEO of JPMorgan Chase, the largest bank in America, Jamie Dimon has said he's "cautiously pessimistic" about the economy. He explains to "60 Minutes" correspondent Lesley Stahl how he is trying to improve the lives of lower-income Americans;