The 7th annual Delivering Alpha conference, presented by CNBC and Institutional Investor in New York City, is taking place this week. And, as usual, it is sure to provide some interesting insight into the opinions of top investors. Jamie Dimon, the CEO of JPMorgan Chase, spoke Monday afternoon on a number of topics.

The comments which are most likely to remain in many audience members' ears, however, are probably those having to do with bitcoin, the cryptocurrency which has led the rapid growth of the industry over the past few months. In short, Dimon took shots at bitcoin, calling it a "fraud" and speculating that bitcoin has fueled a major bubble that will eventually pop, causing a serious market catastrophe.

The New Tulip Craze?

Dimon compared the bitcoin craze to the infamous tulip market in the 17th century, when the price of tulip bulbs grew so high that the eventual downfall of the market caused significant and lasting economic damage. "It's just not a real thing, eventually it will be closed," he said about the cryptocurrency, according to CNBC.

The executive joked that his daughter had purchased some of the popular digital currency in an effort to cash in on the rapid growth of the industry. "I'm not saying 'go short bitcoin and sell $100,000 of bitcoin before it goes down,'" he explained. Still, he continued, "it's worse than tulip bulbs. It won't end well. Someone is going to get killed. Currencies have legal support. It will blow up." (See also: Bitcoin Best Example of Irrational Exuberance Right Now: Nobel Prize Winner.)

JPMorgan Not Likely to Get Involved

Is there a chance that JPMorgan could try to cash in on the bitcoin craze? Dimon's comments offer a terse response: he explained that he would "fire in a second" any trader at his bank who traded in bitcoin, both because "it's against our rules, and they are stupid."

Following Dimon's disparaging comments, the price of bitcoin fell to a session low. As of Monday afternoon, the currency was trading at just $4,106.23, down 2% from its levels earlier in the day.

Dimon does not stand with a united front of investors when it comes to cryptocurrencies, however. Many of the leading figures on Wall Street have begun to warm to the leading digital currency.

Tom Lee of Fundstrat, for instance, expects the price of the token to climb to $6,000 by next year. Bill Miller, the famous value investor, reportedly owns a share of bitcoin. And Dimon's own bank has also reportedly initiated a trial project utilizing blockchain, the technology which supports bitcoin and many other cryptocurrencies, in an effort to cut down on trading costs. Bitcoin has climbed by more than 300% so far in 2017.

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