JPMorgan chief executive Jamie Dimon issued a sharp condemnation of cyrpto-currency bitcoin, declaring that it was a “fraud” that should only be invested in by murderers, drug dealers and people living in North Korea, Ecuador and Venezuela.
“If we had a trader who traded bitcoin I’d fire him in a second for two reasons. One, it’s against our rules. Two, it’s stupid,” the bank boss told the Barclays’ financial conference in New York on Tuesday.
“You can’t have a business where people are going to invent a currency out of thin air,” he added. “It won’t end well… someone is going to get killed and then the government is going to come down on it.”
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