Bitcoin is ‘a hyped-up fraud’

  • JP Morgan CEO Jamie Dimon previously accused Bitcoin of being a “Ponzi scheme.”
  • On Thursday, he told CNBC’s Squawk Box that crypto is a decentralized Ponzi scheme and Bitcoin is simply a “promoted scam.”
  • Dimon says people have lost billions of dollars and believes regulators should have stopped cryptocurrencies “a long time ago.”

This is not the first time JP Morgan CEO Jamie Dimon has labeled cryptocurrencies worthless.

on thursday interview On CNBC’s “Squawk Box,” a prominent cryptocurrency skeptic once again called bitcoin “exaggerated deception” He called the benchmark cryptocurrency “pet rockHe expressed his frustration by dismissing discussions of BTC and other cryptocurrencies as a waste of time.

Dimon says crypto ‘does nothing’

JP Morgan CEO says bitcoin is not a store of value and refutes his skepticism by suggesting there could be more than 21 million bitcoins in the future I showed more.

How do you know when it stops at 21 million?Maybe 21 million, and Satoshi’s picture will come out and make you laugh.! ”

Dimon also decided to call the cryptocurrency a decentralized Ponzi scheme.

worldGuys, you’ve seen the analysis on Tether, all these analyzes. Lack of disclosure and it’s ridiculous. Regulators should have stopped all this long ago. People have lost billions of dollars.Looking at the low-income group, in some cases even retirees

As for what he had to say about the crypto industry after the collapse of FTX, a JP Morgan executive summed up his outlook by pointing out that crypto will “do nothing.”

pet rock‘” he told the Squawk Box host, adding that he doesn’t care about bitcoin.

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