JPMorgan CEO Jamie Dimon said in a conference speech that Bitcoin (BTC) is a decentralized pyramid scheme.

In these days when cryptocurrencies are on the rise, striking statements have started to come from the actors of the market. The increase in Bitcoin trading has instilled hope that the bear market may be over. In the midst of these processes, however, striking statements came from the CEO of JPMorgan. The company’s CEO, Jamie Dimon, argued that Bitcoin is a pyramid scheme. The CEO, who made the Ponzi analogy, also made the definition of fraud for Bitcoin in 2017.

JPMorgan CEO Continues Anti-Bitcoin

Jamie Dimon, CEO of American investment bank JPMorgan, continues his negative rhetoric for Bitcoin (BTC). Speaking at the Annual Health Conference, Dimon stated that Bitcoin cannot replace real money.

Dimon claims that cryptocurrencies are used more in illegal activities. However, despite the CEO’s attitude, JPMorgan accelerated its blockchain initiatives. The company spends a lot of time in order to use this technology more efficiently.

Despite Dimon, who regularly emits FUD, the JPMorgan company’s blockchain initiatives are receiving a lot of attention. In the past years, Dimon has said that he will lay off employees who deal with cryptocurrencies.