### Jamie Dimon and JPMorgan Chase Finally Embrace Bitcoin Amid Growing Demand
JPMorgan Chase CEO Jamie Dimon, once one of Bitcoin’s most vocal critics, has made a surprising reversal by allowing the bank’s clients to invest in the cryptocurrency. Dimon, who previously labeled Bitcoin a “fraud” and a “pet rock,” begrudgingly acknowledged client demand during the bank’s investor day, comparing Bitcoin to smoking—something he personally opposes but won’t prevent others from doing. This shift marks a major symbolic win for Bitcoin, which has long sought mainstream financial acceptance despite its anti-establishment roots. While Dimon reiterated his skepticism—citing concerns over illicit activities like sex trafficking and terrorism—his decision underscores the growing pressure from clients and competitors to engage with digital assets.
### The Tipping Point: Bitcoin ETFs, Trump’s Influence, and Regulatory Shifts
The move comes after a year of increasing institutional interest in Bitcoin, particularly following the SEC’s approval of Bitcoin ETFs in early 2024. These investment vehicles, which let investors speculate on Bitcoin’s price without direct ownership, attracted billions in inflows, prompting firms like BlackRock, Morgan Stanley, and Goldman Sachs to dive in. The political landscape further accelerated adoption when Donald Trump, a newly converted crypto advocate, won the presidency and vowed to make the U.S. the “Bitcoin capital of the world.” His administration swiftly rolled back restrictive crypto policies, emboldening banks to explore digital assets. With rivals like Goldman Sachs amassing over $1 billion in Bitcoin ETFs, JPMorgan risked losing clients if it remained on the sidelines.
### What This Means for Bitcoin and Traditional Finance
While JPMorgan won’t custody Bitcoin directly—requiring third-party involvement—Dimon’s capitulation signals a broader shift in traditional finance. As the largest U.S. bank, JPMorgan’s endorsement could encourage other holdouts to follow suit, potentially ushering in a new wave of institutional and retail investors. Crypto enthusiasts celebrated the news, with Swan CEO Cory Klippsten declaring that “Jamie Dimon has bent the knee.” Whether Dimon’s personal disdain for Bitcoin persists is irrelevant; the market has spoken, and even Wall Street’s biggest skeptics can no longer ignore its demand.
Ez a cikk a Neural News AI (V1) verziójával készült.
Forrás: https://time.com/7287164/jpmorgan-chase-bitcoin-jamie-dimon/.