Jamie Dimon calls bitcoin a 'fraud' and a 'Ponzi scheme' — and says the crypto is hopeless as a currency [Yahoo! Finance]
JP Morgan Chase & Co. (JPM)
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Source: Yahoo! Finance
Dimon has dismissed bitcoin as a "pet rock" in the past and slammed it for enabling criminals. Bitcoin is a scam and fails as a currency, Jamie Dimon said. "If you mean crypto like bitcoin, I've always said it's a fraud," the JPMorgan CEO told Bloomberg TV on Wednesday. "If they think they're a currency, there's no hope for it. It's a Ponzi scheme ," he added. However, the billionaire banker did say tokens that serve a purpose may not be worthless. "If it's a crypto coin that can do something like a smart contract , that has value," he said. "There will be smart contracts, and blockchain works — to the extent crypto is accessing certain blockchain things, yeah, that might have some value." Dimon has trashed bitcoin repeatedly in recent years. He's compared it to smoking a cigarette, said it's "dangerous" to own, urged people not to buy it, and called on governments to ban it. The Wall Street heavyweight has also decried the most popular crypto as a "waste of time," a "h
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JPM
Earnings
- 4/12/24 - Beat
JPM
Sec Filings
- 5/1/24 - Form 424B3
- 5/1/24 - Form 424B3
- 5/1/24 - Form 424B3
- JPM's page on the SEC website