### JPMorgan’s Jamie Dimon Finally Embraces Bitcoin Amid Growing Institutional Demand
JPMorgan Chase CEO Jamie Dimon, once one of Bitcoin’s most vocal critics, has reluctantly allowed the bank’s clients to invest in the cryptocurrency—marking a major shift for the traditional finance giant. Dimon, who previously called Bitcoin a “fraud” and a “pet rock,” conceded during the bank’s investor day that clients should have the freedom to invest as they wish, despite his personal skepticism. His begrudging acceptance reflects the growing institutional demand for Bitcoin, driven by regulatory changes and competitive pressure from rival firms like BlackRock and Goldman Sachs. This move signals a significant victory for Bitcoin’s legitimacy in mainstream finance, even as Dimon continues to criticize its use in illicit activities.
The shift follows a year of increasing Bitcoin adoption in traditional finance, spurred by the SEC’s approval of Bitcoin ETFs in early 2024. These ETFs attracted billions in investments, prompting major financial institutions to offer crypto-related services. Morgan Stanley and Goldman Sachs were among the first to embrace Bitcoin ETFs, while Trump’s pro-crypto presidency further accelerated adoption. His administration repealed restrictive banking regulations, encouraging more institutions to explore digital assets. With competitors capitalizing on the trend, JPMorgan risked losing clients if it remained on the sidelines—forcing Dimon to relent, despite his reservations.
While JPMorgan will now allow Bitcoin purchases, Dimon emphasized that the bank won’t custody the asset, requiring third-party involvement. His decision could influence other hesitant financial giants to follow suit, potentially bringing a new wave of institutional investors into the crypto market. Crypto advocates celebrated the reversal, seeing it as a long-awaited acknowledgment of Bitcoin’s staying power. Whether Dimon’s personal disdain for Bitcoin softens remains to be seen, but his pragmatic pivot underscores the cryptocurrency’s irreversible integration into the global financial system.
Ez a cikk a Neural News AI (V1) verziójával készült.
Forrás: https://time.com/7287164/jpmorgan-chase-bitcoin-jamie-dimon/.