Jamie Dimon Says He's Done Talking About Bitcoin

Jamie Dimon, head of Wall Street banking giant JPMorgan Chase, has said he won't be talking about bitcoin following his controversial "fraud" comment.

AccessTimeIconOct 12, 2017 at 2:00 p.m. UTC
Updated Sep 13, 2021 at 7:01 a.m. UTC

JPMorgan Chase chief executive Jamie Dimon has said he won't be commenting on bitcoin anymore.

It's a statement that comes a month after his now-infamous declaration that the cryptocurrency is a "fraud." Dimon made the remarks during a third-quarter earnings call with reporters this morning, as cited by CNBC.

He reportedly said:

"I wouldn't put this high on the category of important things in the world, but I'm not going to talk about bitcoin anymore."

During the call, JPMorgan chief financial officer Marianne Lake was quoted as saying that the bank is "open-minded for digital currencies that are properly controlled and regulated."

Dimon has something of a history of making strong statements on bitcoin. On September 12, during an event hosted by Barclays, he said that the cryptocurrency, in his view, is "worse than tulip bulbs," a reference to the 17th century speculative bubble in Dutch tulips. "It won't end well. Someone is going to get killed," he said at the time.

Dimon later doubled down on his comments, predicting that bitcoin would be targeted by governments.

Dimon's "fraud" remark last month triggered a wave of commentary from Wall Street figures, with some siding with his position, while others adopted a more neutral stance.

By contrast, some commentators have taken issue with the "fraud" remarks, arguing that the cryptocurrency's foundation is based on a rejection of the banking system.

Jamie Dimon image via Flickr


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