Expanding on his recent criticism of bitcoin, the CEO of JPMorgan Chase bank is again out in the media warning "it will end badly" for the tech. In a fresh round of press interviews, Dimon told CNBC he is concerned about a flood of cryptocurrencies – thanks to bitcoin, ethereum and initial coin offerings (ICOs) – and believes governments will soon crackdown on the phenomenon.
Predicting that the scenario will not be pretty, the CEO reportedly stated that authorities will eventually threaten users with imprisonment, forcing the cryptocurrencies onto a black market.
He told CNBC:
"Right now these crypto things are kind of a novelty. People think they're kind of neat. But the bigger they get, the more governments are going to close them down,"