As Jamie Dimon Slams Bitcoin, His Company Invites Tech Guru to Explain it to Top Managers

JPMorgan CEO Jamie Dimon’s recent attack on Bitcoin, which saw it slump in time with the Bitcoin exchanges banning announcements from China, is starting to unravel.

Dimon called Bitcoin a ‘fraud’ and said if he caught anyone trading it they would be fired from his company. However, it has since emerged that there’s a lot of hypocrisy and conflict of interest in these statements.

‘Do some homework, Jamie’

Stephens says that Dimon's comments discounting the significance of Bitcoin were reflective of his lack of understanding of the technology's potential.
Stephens is still of the opinion that Dimon is simply being ignorant:

"The Blockchain and cryptocurrencies have elicited an emotional response from financial incumbents. The technology is controversial and misunderstood, but that doesn't make it any less real," he said.

"I would encourage Jamie Dimon and others to do some homework first. It is not a fraud. It is not a Ponzi scheme. It's a robust technology that is going to impact multiple industries. Don't discount it."