Insights Of JP Morgan CEO, Jamie Dimon Fraud Tag On bitcoin

jamie dimon

Jamie Dimon is an American business executive and the CEO of JP Morga’s chase bank, the largest biggest bank in the united states of America.

Dimon made a speech about bitcoin where he labeled the cryptocurrency as fraud and also said he would fire any JP Morgan’s employees caught trading the digital currency.

if we had a trader who traded bitcoin i`d fire him in a second for two reasons, one,it is against our rules.two, itS stupid.

Jamie while speaking with CNBC, was asked why he tagged bitcoin as a fraud, he asserted that bitcoin is like a nonexistent currency being manipulated and can rise to a $100,000 and fall back rapidly.

He stated that the banks create currencies and controls it, and is keen to know whoever is behind any cryptocurrency. Dimon made remarks on the possibility of China shutting down all bitcoin exchanges after banning all ICOs and might soon ban bitcoin in China and it ends up shutting down.

it is worst than tulip bulbs .it won`t end well. someone is going to get killed.

The price of bitcoin suffered a great setback after the comment by Jamie Dimon in conjunction with the tweet of charlie lee, the creator of litecoin, where he tweeted,


“Looks like this time china finally banned bitcoin.”

The two buzzes came in almost at the same time and created huge sell orders for bitcoin which caused the price soar from $4,000 upwards to $3000, and put the market in an immediate blood bath.

Jamie Dimon also said that his daughter bought bitcoin and is always happy whenever the price is up, this makes me think why Jamie Dimon now earlier said that he was going to sack any of their staffs who had anything to do with bitcoin, whereas his daughter is a holder of the cryptocurrency.

Major banks have mostly been attacking bitcoin and opposing the cryptocurrency because it is most likely to displace them.

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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.