JPMorgan CEO says bitcoin is for murderers, drug dealers, and North Korea – VICE News

JPMorgan CEO says bitcoin is for murderers, drug dealers and North Korea

  • That’s the opinion of Jamie Dimon, the billionaire CEO of America’s biggest bank JPMorgan Chase, who said he’d fire any employee he caught trading the cryptocurrency.
  • Dimon’s thrashing of bitcoin sent its price plummeting Wednesday, but despite the very public criticism of the world’s most valuable cryptocurrency, Dimon and JPMorgan continue to be a leader in the financial world in implementing new technologies based on the blockchain, the distributed ledger technology that underpins bitcoin.
  • A day after he made the remarks, the price of bitcoin has dropped from $4,250 to $3,790, dipping below the $4,000 mark for the first time in over a month.
  • Bitcoin’s value has soared in 2017, from less than $1,000 at the turn of the year.
  • READ: Bitcoin is about to blast past $5,000 — and that’s a problem

Bitcoin is a scam and it’s only useful for drug dealers, murderers, and North Korea. That’s the opinion of Jamie Dimon, the billionaire CEO of America’s biggest bank JPMorgan Chase, who said he’d fire any employee he caught trading the cryptocurrency. Dimon’s thrashing of bitcoin sent its price plummeting […]

@vicenews: JPMorgan CEO says bitcoin is for murderers, drug dealers and North Korea

Bitcoin is a scam and it’s only useful for drug dealers, murderers, and North Korea. That’s the opinion of Jamie Dimon, the billionaire CEO of America’s biggest bank JPMorgan Chase, who said he’d fire any employee he caught trading the cryptocurrency.

Dimon’s thrashing of bitcoin sent its price plummeting Wednesday, but despite the very public criticism of the world’s most valuable cryptocurrency, Dimon and JPMorgan continue to be a leader in the financial world in implementing new technologies based on the blockchain, the distributed ledger technology that underpins bitcoin.

As one of Wall Street’s most high-profile figures, Dimon knew his comments would have an impact. A day after he made the remarks, the price of bitcoin has dropped from $4,250 to $3,790, dipping below the $4,000 mark for the first time in over a month. Bitcoin’s value has soared in 2017, from less than $1,000 at the turn of the year.

READ: Bitcoin is about to blast past $5,000 — and that’s a problem

JPMorgan CEO says bitcoin is for murderers, drug dealers, and North Korea – VICE News