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The CEO of JPMorgan Chase, Jamie Dimon, said that the bank will soon allow customers to buy Bitcoin (BTC), a quarter of striking for a bank whose chief formerly called the cryptocurrency “without value”.
The decision comes despite Dimon’s repeated attacks on Bitcoin over the years, notably by calling a “scam”, a “pet for pets” and something he had “closed” if he was the government.
Dimon argued that crypto is used for illicit activities, including sex trafficking and money laundering, but said that the U-turn is more to give customers what they want.
“We will allow you to buy it”, Dimon said,, While speaking in an annual investor day on May 19. “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy bitcoin. “
Dimon said the bank will not hate Bitcoin, but will include customer statements.
Dimon’s position on unchanged bitcoin
Jpmorgan Chase’s decision marks a quarter of a landmark for the American banking titan. In 2018, Dimon described Bitcoin to stop at the purchase. He also called BTC “worthless” at the height of the Haussier market of 2021.
The decision follows similar movements taken by competitors, in particular Morgan Stanley,, Who gave its financial advisers the Greenlight to present certain ETF Bitcoin (Bursus negotiated funds) to qualified customers.
“I defend your right to buy bitcoin.” – Jamie Dimon, CEO of JPMorgan
– Michael Saylor (@saylor) May 19, 2025
Blockchain technology has been over-type, says Dimon
In addition to doubling his bitcoin skepticism, Dimon also argued that blockchain technology is over-type.
“We have been talking about blockchain for 12 to 15 years,” he said. “We spend too much. It doesn’t matter as much as you all think so. ”
It is as the own JPMorgan Chase blockchain platform, Kinexys, recently executed a test transaction on a public blockchain for the first time.
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