While most other Wall Street veterans are embracing the cyptocurrency, the JP Morgan CEO says bitcoin is "worse than tulip bulbs and it won't end well."
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Jamie Dimon says bitcoin is a fraud
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Dimon's comments came at a time when some of the most well-known figures on Wall Street started to embrace the cryptocurrency. Fundstrat's Tom Lee said he sees bitcoin surging to $6,000 next year and investing legend Bill Miller reportedly owns bitcoin. Even Dimon's own bank, JPMorgan, has reportedly begun a trial project using blockchain as it tries to cut trading costs. Blockchain is the technology behind bitcoin.
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