J PMorgan Chase’s CEO Jamie Dimon has long been one of Bitcoin’s most vicious skeptics. In 2017, he said he would fire any employee who traded Bitcoin for being “stupid,” and called it a “fraud.” Last year, he called the cryptocurrency a “pet rock.”

The boss of Wall Street’s biggest bank fears that extreme complacency crept into the market as investors shook off last month’s tariff scare. Wall Street strategists say he might be on to something.