Despite the ongoing Crypto Winter, Bitcoin supporters are certain that the future for the fledgling industry is bright. And so far this year, they’ve had reason to celebrate. Bitcoin’s price has jumped more than 25% in the past few weeks alone after a dismal 2022. But JPMorgan Chase CEO Jamie Dimon still isn’t a believer. At the World Economic Forum in Davos, Switzerland, on Thursday, Dimon bashed cryptocurrencies as a distraction.
“I think all that's been a waste of time and why you guys waste any breath on it is totally beyond me,” he told CNBC. “Bitcoin itself is a hyped up fraud. It’s a pet rock.”
