John McAfee, JPMorgan Ex Join Revolt Against Dimon’s Bitcoin ‘Fraud’ Comments
JPMorgan CEO Jamie Dimon has come in for high-profile criticism for his comments on Bitcoin.
A former JPMorgan executive has joined John McAfee in publicly criticising comments by current CEO Jamie Dimon that Bitcoin is a “fraud.”
In a hotly-worded tweet Wednesday, ex-Head of Global Macro Trading Alex Gurevich wrote that Dimon should “STFU” about Bitcoin trading.
“Jamie, you're a great boss and the GOAT bank CEO. You're not a trader or tech entrepreneur,” he added.
Jamie, you're a great boss and the GOAT bank CEO. You're not a trader or tech entrepreneur. Please, STFU about trading $BTC.— Alex Gurevich (@agurevich23) September 12, 2017
The financial mogul garnered considerable scorn from the cryptocommunity and beyond with his words at a New York conference earlier this week. Bitcoin subsequently dropped four percent in price, but commentators were undecided as to whether this was specifically due to Dimon’s rhetoric.
Meanwhile, McAfee founder John McAfee, famous for his Bitcoin advocacy, took to CNBC to voice his displeasure at Dimon.
In a personal address still somewhat toned down compared to his previous comments, McAfee focused on the real “fraud” element being attached to the uncontrolled printing of fiat currency.
“It costs over $1,000 to create each Bitcoin. What does it cost to create a US dollar? Which one’s the fraud?” he asked.
From within cryptocurrency industry, multiple figures have added to the backlash less directly.
Bharath Rao, CEO of Leverj, said today in emailed comments that cryptocurrency will still reward the first movers, which in 2017 can still be anyone who chooses to come on board.
“The ones who have the vision and courage to step in and shape the future will be handsomely rewarded and those who shudder and fear this unstoppable force are choosing to be obsolete with their archaic systems,” he forecast.