Pet Rock No More? JPMorgan Sees Bitcoin Outperforming Stocks and Gold

How the tables have turned. JPMorgan CEO Jamie “ Pet Rock ” Dimon has called Bitcoin a “fraud”, “worthless” and a “hyped-up fraud”, followed by his famous pet rock comments. He told CNBC at Davos that he’d “call it the pet rock”, alleging Bitcoin essentially has no function. He made those comments between 2017 and 2024, so not that long ago. Meanwhile, JPMorgan’s (JPM) analysts have long taken a more measured view of Bitcoin .