Jamie Dimon can’t seem to make up his mind. In a recently published interview for the July-August edition of the Harvard Business Review, the JPMorgan Chase chairman and CEO acknowledged that he remains bullish on the future of blockchains, saying that he expects the technology to be used for “a whole lot of things” at his company. He then turned around and said at an Aspen Institute gathering this weekend that cryptocurrency is a “scam” and that he has “no interest” in it. Unfortunately for him, it’s virtually impossible to have one without the other.

Dimon believes that crypto is “not the same as gold or fiat currencies.” He says that fiat, as it is “supported by law, police, courts […] [are] not replicable, and there are strictures on them,” is the only legitimate currency. It will be interesting to see how he argues against crypto once it receives global regulatory approval. On the other hand, the Wall Street executive says that blockchain technology is “real,” and that JPMorgan is “testing [the technology] and will use it for a whole lot of things.”

Dimon’s concerns over the future role crypto has in a global economic environment are understandable, albeit misguided. Most financial companies are concerned over how a global digital currency can disrupt their business models, as has already been recognized by both Bank of America and even JP Morgan. In a filing with the Securities and Exchange Commission (SEC) this past February, Dimon listed cryptocurrency in the “Competition” subsection of the report, explaining that it might “put downward pressure on prices and fees for JPMorgan Chase’s products and services or may cause JPMorgan Chase to lose market share.”

Continuing his apparent uncertainty surrounding blockchain and the intrinsically tied cryptocurrency, Dimon saw his company file a blockchain-related patent at the beginning of May while creating a new position at the company shortly after that will head up crypto assets strategy. That same month, he said that crypto is “real but not in the current form.”