In a public speech during JPMorgan’s Investor Day 2025 this Monday (19th), CEO Jamie Dimon confirmed the bank’s plans to allow its customer base to buy bitcoin.
The bank’s change of stance comes amid growing adoption of bitcoin by companies around the world, as well as governments. Jamie Dimon, however, continues to claim that he is not a fan of bitcoin, even though he is about to launch a service in the market.
In addition, he confirmed that the plans involve only releasing trading, with the custody service being from a third-party partner. With information from The Block.
Showing change of direction in the traditional financial system
The arrival in the bitcoin market comes after several public clashes between its CEO and the digital currency. Jamie Dimon has been one of the biggest critics in the history of bitcoin, which he has called a bubble in the past.
In addition, he has repeatedly classified bitcoin as a fraudulent scheme, which shows an attitude against innovation.
But with the arrival of Donald Trump in power and the new rise of bitcoin, not even the biggest critics can consider ignoring this market. In other words, the imminent release of bitcoin trading is proof of the change of direction that the traditional financial market is going through.
The situation is similar, with several investors still preferring to buy bitcoin and other cryptocurrencies in banks. In other words, the trend is for financial institutions to become increasingly involved, in search of a market in which brokers still dominate.
CEO said that if he were the government he would shut down bitcoin in December 2023
In December 2023, during a public hearing with executives from major US banks in the Senate, Jamie Dimon was one who contributed to a debate on the topic. On that occasion, he received a question from Senator Elizabeth Warren, a Democrat who is one of the biggest critics of the market.
“Mr. Dimon, you have been CEO for almost two decades, can you explain why cryptocurrencies are such an attractive financial tool for terrorists, drug dealers and rogue nations?“, said the senator.
In an objective response, Jamie Dimon said that he has always had a position against the market and bitcoin itself. “I have always been deeply against crypto Bitcoin etc. You pointed out that the only true use case for it is criminals, drug dealers. If I were the government, I would shut it all down“, he concluded in his participation.
Less than two years later, he shows that in addition to not being able to shut everything down, he will open a division in the market of which he remains skeptical.
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