JP Morgan CEO Jamie Dimon: Bitcoin is a Fraud
Bitcoin prices fell below the $3,000 mark for the first time in a month Wednesday as investors continue to dump the cryptocurrency following a crackdown on fund raising in China and accusations of fraud from one of Wall Street's most influential leaders.
Bitcoins were marked at $3,966 each on the Bitsmap exchange in London, the lowest since Aug 13 and down some 5% from last night's levels following a series of disparaging comments from JPMorgan Chase & Co. (JPM - Get Report) CEO Jamie Dimon, who called the virtual currency concept a "fraud" and said he'd fire any of his traders for dealing in it. So far this month, however, bitcoin prices have fallen nearly 20%, or more than $1,000, from the all-time peak the virtual currency reached on Sept. 1.
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