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    HomeRussiaThe head of the largest American bank called bitcoin a financial pyramid

    The head of the largest American bank called bitcoin a financial pyramid

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    The head of the largest US bank JPMorgan, Jamie Dimon, called cryptocurrencies and bitcoin a decentralized financial pyramid, writes Bloomberg.

    “I am skeptical about cryptocurrencies , which you call currencies like bitcoin. This is a decentralized pyramid scheme,” Dimon said.

    At the same time, the banker admitted that stablecoins pegged to the dollar or other fiat currencies can be used in transactions with proper regulation. Bloomberg reported that the JPMorgan conglomerate is actively using blockchain technologies.

    On September 19, the cryptocurrency market experienced a fall – at the bottom point, its capitalization fell to $899 billion (minus 7.7 percent per day). The bitcoin rate at the bottom point reached 18.4 thousand dollars (minus 6 percent per day) – the first cryptocurrency fell below 18.5 thousand for the first time since mid-June.

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