19 February 2018
visit www.ebaday.com

JPMorgan Chase chief says he would fire traders dealing in bitcoin for stupidity

13 September 2017  |  13977 views  |  2 Bitcoin

JPMorgan Chase chief Jamie Dimon has upped the ante in his criticism of bitcoin, declaring the cryptocurrency a fraud and warning that he would fire any trader caught dealing in the coin for being "stupid".

Dimon did not mince his words in his latest critique of bitcoin, telling the audience at a conference hosted by Barclays and reported on by Bloomberg that: "It's worse than tulip bulbs. It won't end well. Someone is going to get killed."

His remarks follow a previous savaging of bitcoin back in November 2014 when the cryptocurrency was trading at $400, insisting that virtual currencies have no chance of surviving because they will be crushed by governments.

At the Barclays conference, Dimon maintained his tough stance despite the startling surge in bitcoin value over the past three years, predicting that the market was heading for a "blow up" and adding that he would terminate any trader caught investing in the currency for stupidity.

“I’d fire them in a second," he told the conference. "For two reasons: It’s against our rules, and they’re stupid. And both are dangerous.”

Comments: (2)

Hugh Whitehill
Hugh Whitehill - Link. Client Onboarding KYC - Hong Kong | 14 September, 2017, 03:33

I'd lump breaking the rules and stupdity into one in this case. Wall Streets' aversion to bitcoin comes in waves. It will be interesting to see how it plays out in years to come. 

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
A Finextra member
A Finextra member | 14 September, 2017, 07:29  if Jamie fires anyone for trading bitcoin please be sure to send your resumes to us - we're hiring!! Info@globaladvisors.co.uk GA is the owner of the first bitcoin ETN If you know what you are achieving in crypto currencies trading , join the most established team of bitcoin/blockchain expert , please use reference FIN/LK
Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

JPMorgan Chase pumped $600m into fintech in 2016

JPMorgan Chase pumped $600m into fintech in 2016

05 April 2017  |  18982 views  |  0 comments | 37 tweets | 30 linkedin
Dimon dismisses bitcoin

Dimon dismisses bitcoin

05 November 2015  |  9325 views  |  3 comments | 22 tweets | 13 linkedin

Related company news

 

Related company information

JPMorgan Chase

Related blogs

Create a blog about this story (membership required)
Visit www.vasco.comvisit http://info.nice.comVisit https://www.capgemini.com

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11119 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
8623 views comments | 15 tweets | 13 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8599 views comments | 15 tweets | 43 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8550 views 10 comments | 21 tweets | 26 linkedin

Featured job

Six-Figure-Base, Double OTE, Benefits Package
London, UK

Find your next job