JPMorgan's quant guru says cryptocurrencies have 'some parallels to fraudulent pyramid schemes'

JPMorgan's global head of quantitative strategy has joined his boss, CEO Jamie Dimon, in the growing legion of anti-cryptocurrency crusaders.
In a client note on Wednesday, Marko Kolanovic said cryptocurrencies as a whole had "some parallels to fraudulent pyramid schemes."
The comments come a day after Dimon called bitcoin a "fraud" that was "worse than tulip bulbs." He even went as far as to say he'd fire any trader that transacted it for being stupid.
Kolanovic highlighted bitcoin in his compa