At It Again: Dimon Breaks Vow, Says Bitcoin Buyers Will 'Pay the Price'

Just a day after JPMorgan Chase chief Jamie Dimon said he wouldn't talk about bitcoin, he issued new remarks about the cryptocurrency.

Oct 13, 2017 at 7:45 p.m. UTC
Updated Sep 14, 2021 at 1:56 p.m. UTC

Jamie Dimon is back on the bitcoin commentary bandwagon.

Just a day after declaring on a third-quarter earnings call that he would refrain commenting on the cryptocurrency, the JPMorgan Chase CEO offered a critical take on those investing in bitcoin.

"If you're stupid enough to buy it, you'll pay the price for it one day," he said today at an event hosted by the Institute of International Finance, according to a report from CNBC. During the event, he reportedly voiced support for the cryptocurrency's underlying technology – an area in which the Wall Street bank has undertaken a number of notable efforts, including the Enterprise Ethereum Alliance.

Per CNBC, Dimon also reportedly said that he "could care less about what [price] bitcoin trades at."

A report from Bloomberg includes additional details about Dimon's latest comments. He reportedly said that bitcoin is "great" for criminals, and that – in a refrain from yesterday – that it would be the last time he would comment on the subject.

"Who cares about bitcoin?" he was quoted as saying.

The remarks are the latest from Dimon, whose now-infamous comment in September that bitcoin is a "fraud" sparked a wave of commentary about bitcoin itself as well as the wider cryptocurrency market. Other Wall Street figures, including Goldman Sachs CEO Lloyd Blankfein and ex-Fortress billionaire Mike Novogratz, have also weighed in on the topic.

His comments also come on the day that bitcoin's price rose above $5,800 to hit a new all-time high. At press time, the price of bitcoin is trading at about $5,689, according to CoinDesk's Bitcoin Price Index (BPI).

Image via Wikimedia

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