JPMorgan CEO Lambasts Bitcoin as “Decentralized Ponzi Scheme”

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JPMorgan CEO Lambasts Bitcoin as “Decentralized Ponzi Scheme”
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The jpmorgan boss hasn't warmed up to crypto

Dimon has been vocal in his criticism of Bitcoin and other virtual currencies. In 2017, he famously called Bitcoin a"fraud," and said that any JPMorgan trader caught trading it would be fired on the spot.

Since then, Dimon has softened his stance somewhat and even stated that he believed blockchain technology had value. JPMorgan itself has repeatedly dabbled into blockchain despite its boss’s negative attitude toward crypto. However, Dimon has been adamant in his critique of Bitcoin itself. Dimon considers it a speculative"asset" that can never replace real money or become an effective payment system.

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