Bitcoin Tumbles After JPMorgan CEO Jamie Dimon Calls It A “Fraud”

Published on 13 September 2017

JPMorgan CEO Jamie Dimon called bitcoin a “fraud” and predicted that the cryptocurrency will “blow up,” according CNBC.

“It’s just not a real thing, eventually it will be closed,” Dimon remarked at a banking industry conference yesterday.

“It’s worse than tulip bulbs,” he added, referring to the notorious 17-century market bubble, “It won’t end well. Someone is going to get killed. Currencies have legal support. It will blow up.”

Bitcoin prices – which have skyrocketed over 300% so far this year – fell 5.46% to US$3,937.73 after Dimon made his comments.

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