JPMorgan's Dimon: Bitcoin is a fraud

www.cnbc.com

Dimon caused quite a kerfuffle this past week when he called Bitcoin a fraud that will eventually blow up on stage at a conference. For some reason the media picked this quote up and ran with it, so much so that the price of cryptos broadly slid by about 5%. It's pretty impressive that a single person can erase $ billions of market cap with one sentence alone. Observers in the crypto space were quick to state that Dimon's opinion matters about as much as banks' and governments' - in other words, not at all. 

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