- JP Morgan to allow Bitcoin purchases despite CEO Jamie Dimon’s continued skepticism.
- Bitcoin hits $105K amidst rising institutional adoption.
In a striking shift from its historically anti-crypto stance, JP Morgan is now taking a significant step into the digital asset space.
CEO Jamie Dimon, long known for his skepticism toward cryptocurrencies, revealed that the banking giant will soon permit its clients to buy Bitcoin [BTC].
JP Morgan’s crypto shift
JP Morgan won’t provide custody services for the asset. However, this decision represents a clear shift from its previous stance.
It also signals increasing recognition of client demand as the financial landscape continues to evolve.
Remarking on the same, at JP Morgan’s annual investor day on the 19th of May, Dimon said,
“We are going to allow you to buy it. We’re not going to custody it. We’re going to put it in statements for clients.”
Once openly critical of cryptocurrencies, the $4 trillion asset manager is now cautiously stepping into the crypto arena.
In fact, JP Morgan recently completed a tokenized treasuries’ transaction with Chainlink and Ondo Finance. This highlights its growing comfort with blockchain infrastructure.
At the same time, institutional interest in Bitcoin is rising. Strategy’s latest acquisition of 7,390 BTC reflects this increasing demand.
Jamie Dimon’s crypto stance remains unaltered
However, despite this shift, CEO Jamie Dimon’s skepticism toward Bitcoin appears unchanged.
Earlier this year, he reiterated his long-held skepticism by labeling Bitcoin a “Ponzi scheme” and dismissing i
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Author: Ishika Kumari
