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Jamie Dimon says people who buy bitcoin are 'stupid'

JPMorgan Chase (NYSE: JPM) Chairman and CEO Jamie Dimon can't stop talking about bitcoin. "If you're stupid enough to buy it, you'll pay the price for it one day," Dimon said at an Institute of International Finance conference Friday. The CEO said he could care less about what bitcoin trades at. On Thursday, Dimon said during a post-earnings conference call with media that he's "not going to talk about bitcoin anymore." The executive called bitcoin a "fraud" in September and said it "won't end well." Dimon did add on Friday that he believed the blockchain technology behind bitcoin was valid, but he does not understand the value of "non-fiat" digital coins, that is, digital currencies which are not backed by a government. Bitcoin (Exchange: BTC=) hit a record high above $5,800 Friday. — CNBC's Kayla Tausche contributed to this report.

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