Buffett and Dimon on bitcoin: Beware

Bitcoin Earth

Two of Wall Street's harshest bitcoin critics say investors should remain wary of the cryptocurrency.

Two of Wall Street's harshest bitcoin critics say investors should remain wary of the cryptocurrency.

"I don't want to be a bitcoin spokesman," J.P. Morgan Chase CEO Jamie Dimon said in a rare joint interview with Warren Buffett which aired Thursday on CNBC's " Squawk Box ."

"Just beware,“ he said.

Dimon called bitcoin a "fraud" in September and later said those "stupid enough to buy it" will one day pay the price. He said in January he regretted the "fraud" comment.

Separately, Warren Buffett said in May at Berkshire's 2018 annual shareholder meeting that bitcoin is "probably rat poison squared."

"I set a high standard. I don't know whether Jamie can top me or not," Buffett said in the same interview, which was recorded Wednesday.

Bitcoin has lost more than half its value since topping $19,000 in mid-December.

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