Be part of Our Telegram channel to remain updated on breaking information protection
JPMorgan Chase CEO Jamie Dimon stated the financial institution will quickly enable shoppers to purchase Bitcoin (BTC), a hanging shift for a financial institution whose chief as soon as referred to as the cryptocurrency ‘’nugatory.’’
The choice comes regardless of Dimon’s repeated assaults on Bitcoin through the years, together with calling it a “rip-off,” a “pet rock,” and one thing he’d “shut down” if he have been the federal government.
Dimon maintained that crypto is used for illicit actions, together with intercourse trafficking and cash laundering, however indicated that the U-turn is extra about giving shoppers what they need.
“We’re going to assist you to purchase it,” Dimon stated, whereas talking at an annual investor day on Could 19. “I don’t suppose you must smoke, however I defend your proper to smoke. I defend your proper to purchase Bitcoin.”
Dimon stated the financial institution gained’t custody Bitcoin however will embody it on shopper statements.
Dimon’s Stance On Bitcoin Unchanged
JPMorgan Chase’s resolution marks a landmark shift for the US banking titan. In 2018, Dimon labeled Bitcoin as a rip-off that he had little interest in shopping for. He additionally referred to as BTC “nugatory” throughout the top of the 2021 bull market.
The choice follows related strikes made by rivals together with Morgan Stanley, which has given its monetary advisors the greenlight to pitch some spot Bitcoin ETFs (exchange-traded funds) to qualifying shoppers.
“I defend your proper to purchase Bitcoin.” – Jamie Dimon, JPMorgan CEOhttps://t.co/zc8CjKdAb9
— Michael Saylor (@saylor) Could 19, 2025
Blockchain Know-how Overhyped, Dimon Says
Along with doubling down on his Bitcoin skepticism, Dimon additionally argued that blockchain expertise is being overhyped.
“We’ve been speaking about blockchain for 12 to fifteen years,” he stated. “We spend an excessive amount of on it. It doesn’t matter as a lot as you all suppose.”
That’s as JPMorgan Chase’s personal blockchain platform, Kinexys, lately executed a take a look at transaction on a public blockchain for the primary time.
Associated Articles:
Greatest Pockets – Diversify Your Crypto Portfolio
Straightforward to Use, Characteristic-Pushed Crypto Pockets
Get Early Entry to Upcoming Token ICOs
Multi-Chain, Multi-Pockets, Non-Custodial
Now On App Retailer, Google Play
Stake To Earn Native Token $BEST
250,000+ Month-to-month Lively Customers
Be part of Our Telegram channel to remain updated on breaking information protection
