"Whoever trades will be fired" JPMorgan Chase CEO blasts digital currency Bitcoin for its sharp drop

JPMorgan Chase CEO Jamie Dimon called digital currencies a "scam" and "worse than the tulip bubble," saying it would not end well and would eventually burst. He said any trader who trades Bitcoin should be fired for being stupid.

Bitcoin turned negative, falling 2.3%.

Ethereum fell 3.35%.

This is not the first time Dimon has criticized Bitcoin. The last time Dimon blasted Bitcoin was in November 2015. At that time, he said: "You are wasting your time on Bitcoin. Virtual currency, Bitcoin against the dollar, this will end. No government will support a virtual currency that can cross borders without regulation. This will not happen. Blockchain is a new technology. It is cheaper, more efficient, and more secure, and we will use this technology. It can be used to transport currency, and this currency will be the dollar, not Bitcoin."

Dimon said at the time: "No government will tolerate Bitcoin for long. Now that Bitcoin is still small, many senators and congressmen will express support for Silicon Valley innovation. But the fact is that no currency can escape government regulation."

Although he is not optimistic about Bitcoin, Dimon supports blockchain technology. In fact, as early as 2015, JPMorgan Chase and 22 other major banks reached a partnership with a blockchain startup R3 to study blockchain technology.

Blockchain technology is essential in sharing databases. Blockchain technology allows people to exchange information, as well as virtual currencies such as Bitcoin, equity certificates, contracts, securities, etc. Through blockchain technology, cross-border consumption will become faster and cheaper.

Since Dimon made the above remarks in November 2015, Bitcoin has risen 1,018%.