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It’s Ponzi Scheme: JP Morgan CEO Issues Serious Warning About Bitcoin, Ethereum, Others

  • JP Morgan CEO has lent voice to the myriad of voices calling for the boycott of cryptocurrencies, calling them dangerous
  • Jamie Dimon, JP Morgan boss, Bill Gates and Warren Buffet are among influential people warning against the adoption
  • The billionaires’ warnings came amid crypto crashes that have seen the entire ecosystem eroded by over 70 per cent

Following the crash of top cryptocurrencies, which have lost 70 per cent of their values from an all-time high, they traded in November last year. JP Morgan Chief Executive Officer Jamie Dimon has described cryptos as dangerous.

Dimon echoed Bill Gates and Warren Buffet in labelling bitcoin, Ethereum and others as a decentralized Ponzi scheme.

Crypto crashes to all-time low

Microsoft Founder, Bill Gates, Warren Buffet and JP Morgan CEO, Jamie Dimon
Credit: Kevin Hagen / Stringer
Source: Getty Images

Forbes reported that Ether had witnessed the worst decline while Bitcoin dipped below $20,000, putting US Securities and Exchange Commission on red alert.

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Dimon said he is a significant doubter of crypto tokens, labelling decentralized Ponzi schemes.

China had banned cryptocurrencies and called them the biggest Ponzi schemes in human history.

Last year, Bitcoin saw its market…

Read more…

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