Jamie Dimon: Bitcoin Is a 'Fraud'

JP Morgan Chase chief executive Jamie Dimon doubled down on his past criticisms of bitcoin today, declaring it a "fraud" and stating he could fire any dealer regarded to be trading the cryptocurrency.

Dimon gave the feedback at some stage in an look at an occasion hosted by means of Barclays, according to reviews from Bloomberg and CNBC. a protracted-time critic of bitcoin – he said that the cryptocurrency would "not survive" returned in November 2015 while the fee turned into fluctuating around the $400 level.

Dimon aimed his remarks on the activity inside the global's cryptocurrency markets and echoed those who've stated that they may be in bubble territory.

He changed into quoted as statement:

"it is worse than tulip bulbs. It won't cease nicely. someone goes to get killed."

Dimon later delivered that the cryptocurrency "will blow up," according to CNBC. It became also at some point of that appearance that stated that he would terminate any trader that he discovered to be buying and selling bitcoin for being "stupid."