Key Words: Jamie Dimon’s ‘good argument’ for bitcoin won’t win him any points with cryptocurrency fans

Notably quotable J.P. Morgan Chase & Co. JPM, +1.23% CEO Jamie Dimon lit into bitcoin yesterday, calling it a fraud and a mania even more extreme than the tulip craze that gripped 17th-century Holland. He said he’d fire, on grounds of stupidity, any trader who traded it.

And then he really got busy, delving, at a Barclays investment conference, into his view of the sorts of people for whom bitcoin might be a useful financial instrument:

‘The only good argument I’ve ever heard … is that if you were in Venezuela or Ecuador or North Korea … or if you were a drug dealer, a murderer, stuff like that, you are better off dealing in bitcoin than in U.S.

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