J. Dimon: The Bitcoin is a fraud and it will not end well

During the Delivering Alpha conference, organized by CNBC and Institutional Investor, for the seventh consecutive year in New York, investors heard something that would definitely remain in their minds. And not by anyone, but by JPMorgan Chase's Chief Executive Officer Jamie Dimon.
Briefly, Dimon criticized the bitcoin, naming it a "fraud".
The expert said a bubble was formed at the crypto-currency, which eventually would "burst", which would trigger a real market crash.
Moreover, Dimon compared the madness around the bitcoin with that of the tulips in the 17th century when the prices of bulbs reached incredibly high levels. It was also the first bubble in history. And its burst initiated serious economic consequences.