JPMorgan's Jamie Dimon Talks Smack About Bitcoin, Value Plunges 10%

Investors were in a hurry Wednesday to dump the cryptocurrency Bitcoin, after JPMorgan CEO Jamie Dimon warned that it “is a fraud” and will eventually “blow up”. Bitcoin is the original–and still the biggest–cryptocurrency, and has been on a tear in recent months. According to Reuters, it hit a record high just below $5,000 at the start of September after a more than fivefold increase in price since the start of the year.

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