Would Jamie Dimon really sack traders who netted a 1,000% return in less than two years? The bank’s shareholders wouldn’t approve

It is a “fraud”, the JP Morgan CEO, Jamie Dimon, said this week. “It’s worse than tulip bulbs … it will be the emperor with no clothes”. He was talking about the internet cash system bitcoin.

It will eventually “blow up”, he said, it’s not a “real thing”. “It will be closed.” Any JP Morgan trader caught buying or selling bitcoins will be “fired in a second” – for “being stupid”, he added.

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