PEO­PLE

The Observer - - BUSINESS -

Quote of the week goes to JP Mor­gan boss Jamie Di­mon, who said the dig­i­tal currency was only fit for use by crim­i­nals and peo­ple liv­ing in coun­tries such as North Korea.

“The currency isn’t go­ing to work. You can’t have a busi­ness where peo­ple can in­vent a currency out of thin air and think that peo­ple who are buy­ing it are re­ally smart,” he said.

“If you were in Venezuela or Ecuador or North Korea or a bunch of parts like that, or if you were a drug dealer, a mur­derer, stuff like that, you are bet­ter off do­ing it in bit­coin than US dol­lars. So there may be a mar­ket for that, but it would be a lim­ited mar­ket.”

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