In the Margins

Dimon on bitcoin: 'It's worse than tulip bulbs'

September 14, 2017

By MarketWatch

Speaking at a banking industry conference, JPMorgan Chase CEO Jamie Dimon compared the rapid ascent of bitcoin to the 17th century mania over tulip bulbs—viewed as a classic, textbook bubble—and predicted that things may end just as badly for investors in the decentralized currency, which has been surging over the past year. “Bitcoin will eventually blow up. It’s a fraud. It’s worse than tulip bulbs and won’t end well,” Dimon said. He also said he would fire any trader trading bitcoin for being “stupid.” Read the original story from MarketWatch.