On Thursday, JPMorgan Chase CEO Jamie Dimon expressed his disdain for cryptocurrency. Dimon called Bitcoin a “hyped-up fraud” on CNBC’s “Squawk Box.” He also referred to it as a “pet rock” during the interview. When asked about BlackRock and other investment firms investing in blockchain technology, he clarified, “that’s different.” According to Dimon, blockchain is a “technology ledger that we believe will be deployable.” He also told CNBC that he was “not surprised at all” by what happened to the now-defunct cryptocurrency exchange FTX.
