JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will blow up

Section:

... And as JPMorganChase CEO, he knows all about fraud. Indeed, his company wrote the book.

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By Fred Imbert
CNBC, New York
Tuesday, September 12, 2017

JPMorgan Chase CEO Jamie Dimon took a shot at bitcoin, saying the cryptocurrency "is a fraud."

"It's just not a real thing. Eventually it will be closed," Dimon said today at the Delivering Alpha conference presented by CNBC and Institutional Investor.

Dimon joked that even his daughter bought some bitcoin, looking to cash in on a trend that has seen it soar more than 300 percent this year.

"I'm not saying, 'Go short bitcoin and sell $100,000 of bitcoin before it goes down,'" he said. "This is not advice of what to do. My daughter bought bitcoin, it went up, and now she thinks she's a genius."

In an appearance at a separate conference earlier in the day, Dimon said bitcoin mania is reminiscent of the tulip bulb craze in the 17th century. ...

... For the remainder of the report:

https://www.cnbc.com/2017/09/12/jpmorgan-ceo-jamie-dimon-raises-flag-on-...



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