Bitcoin price LIVE: ‘Worthless’ coin facing major crackdown after 30% surge–JPMorgan alert

OneCoin: Cryptocurrency 'scam' discussed by expert

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Jamie Dimon, JPMorgan Chase Chairman and CEO said on Monday that he believes Bitcoin is “worthless” despite the crypto asset surging by 30 percent in the month of October. Speaking at an event organised by the Institute of International Finance, he added: “I’ve always been a sceptic of stuff like that.” Mr Dimon went on to stress that regulation of the cryptocurrency sector by the United States government was both imminent and necessary.

At the end of September, Tesla CEO Elon Musk warned the government not to interfere with cryptocurrency or risk slowing down its advancement.

The JPMorgan CEO’s comments come as Bitcoin reaches its highest level since May.

The cryptocurrency gained more than 3 percent Monday to reach $57,597.60, according to Coin Metrics.

An increase of another 12 percent would take it back to its all-time high of around $65,000.

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Bitcoin is ‘worthless’, says JPMorgan boss

Bitcoin is worthless and government regulation is closing in on cryptocurrencies, according to the CEO of JPMorgan Chase. 

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