Bitcoin is a 'fraud' only useful for drug dealers and North Korea, says JPMorgan CEO Jamie Dimon

The popular cryptocurrency bitcoin is a “fraud” that will eventually fail and is only useful to drug dealers, murderers and people in countries like North Korea, Ecuador and Venezuela, according to Jamie Dimon, chief executive officer (CEO) of banking giant JPMorgan.

Dimon, who has previously discussed his disdain for the digital money, told attendees during a Barclays’ financial conference in New York on Tuesday (12 September) that he would not hesitate to fire JPMorgan employees found to be trading in the cryptocurrency.

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