Today, the Chairman and CEO of Jpmorgan Chase Jamie Dimon repeated his personal rejection of Bitcoin during the bank’s annual investor event. Despite the bank’s decision to provide customers to reach Bitcoin investments, Dimon emphasized its personal rejection of Bitcoin.
“I am not a fan” from Bitcoin, Damon stated.
JPMorgan will allow customers to buy Bitcoin, but the bank will not save it, according to Bloomberg. Dimon explained that although JPMorgan will provide customers access to Bitcoin investments, the bank will not keep or manage the digital asset directly.
In an interview in January 2025 with CBS newsDamon expressed continuous doubts about Bitcoin. “Bitcoin does not have the fundamental value. It is used so severely by sex merchants, money laundering, and ransom programs,” Demon said.
Although he admitted, “we will have a type of digital currency at some point,” he added: “I don’t feel satisfied with Bitcoin. I salute your ability to buy or sell it. Just as I think you have the right to smoke, but I don’t think you should smoke.”
These comments from Dimon contrast with the recent optimism of JPMorgan analysts regarding the Bitcoin market prospects. JPMORGAN analysts reported that Bitcoin is likely to continue to obtain a floor at the expense of gold in the second half of the year, driven by the high demand for companies and increased support from the United States.
JPMorgan analysts said: “Between mid -February and mid -gold it was rising at the expense of Bitcoin, while in the past three weeks we have been watching the opposite, that is, Bitcoin rises at the expense of gold,” said analysts. “In general, we expect YTD Zero SUM to extend between gold and bitcoin to the remainder of the year, but it is biased towards encryption stimuli, which creates more bullish trend of Bitcoin on gold in the second half of the year.”
Since April 22, gold has decreased nearly 8 %, while Bitcoin has increased by 18 %, which reflects a noticeable transformation in investor morale. The capital was coming out of the investment funds circulating in gold and to bitcoin. Many American countries also heat Bitcoin – New Hampshire now allows up to 5 % of their Bitcoin reserves, while Arizona launches Bitcoin reserves and has pledged not to raise taxes this year. At the corporate level, companies such as Strategy and Metaplanet expand Bitcoin.
Analysts said: “With the growth of the list, with the presence of other American countries, they are likely to consider adding Bitcoin to their strategic reserves, as this may turn into a more sustainable incentive for Bitcoin,” the analysts said.
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