JP Morgan CEO reiterated his stance that Bitcoin is âa fraud.â
âIf you mean crypto like Bitcoin, Iâve always said itâs a fraud,â Dimon told Bloombergâs Emily Chang, adding that there is no hope for it as a currency.
He also called Bitcoin a âpublic decentralized Ponzi scheme,â but conceded that blockchain and smart contracts have value.
âIf it's a crypto coin that can do something like a smart contract that has value, there will be smart contracts and blockchain works,â Dimon said. âTo the extent crypto is accessing certain blockchain things, that might have some value.â
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