Bitcoin and other cryptocurrencies have been an unnecessary distraction for investors and the industry is rife with scams, JPMorgan Chase CEO Jamie Dimon said Thursday. “I think all that’s been a waste of time… Bitcoin itself has been a hyped-up fraud, a pet rock,” Dimon said on CNBC’s ” Squawk Box .” Dimon has been a longtime skeptic of cryptocurrencies, though his bank uses blockchain technology internally. Dimon also said that he was unsurprised by the collapse of crypto exchange FTX late last year.
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