Jamie Dimon, the chief executive officer of JPMorgan, has said that the bank will allow its clients to buy Bitcoin.
JPMorgan CEO Jamie Dimon, a longtime crypto skeptic who has previously labelled Bitcoin (BTC) as worthless, now says the bank’s customers can buy the benchmark digital asset. Dimon announced the move during a speech at the banking giant’s annual investor day on May 19, 2025.
However, while JPMorgan bids to join other leading banks and financial institutions, including Morgan Stanley, in bringing BTC to their clients, Dimon remains skeptical. He also noted that while JPMorgan will allow its customers to buy Bitcoin, the bank will not custody it.
On his personal view about Bitcoin, Dimon has said:
“I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin.”
After calling Bitcoin worthless in 2021, Dimon reiterated the take during a Senate hearing in 2023 and again in 2024 at the World Economic Forum in Davos. Earlier this year, Dimon likened Bitcoin to a “fraud.”
In his remarks about crypto and the ecosystem to lawmakers, the JPMorgan chief said he has always been “opposed to crypto, Bitcoin.” He noted that the only true use case of cryptocurrencies remains by criminals, money laundering, and tax evasion.
He has previously said he would shut Bitcoin down if it was all down to him.
“If I was the government, I’d close it down,” he noted in remarks in December 2023.
While Dimon has maintained a negative view of BTC and crypto, the broader banking ecosysem has increasingly warmed up to it.
Banks such as Morgan Stanley have shown greater ambition in tapping into the crypto market for their clients.
This has come as the launch of Bitcoin spot exchange-traded funds continues to shine a spotlight on institutional demand. Also taking a more upward trajectory is the tokenized assets market, with players such as BlackRock key cogs.
Notable shifts in regulatory approach by the U.S. Securities and Exchange Commission, banking regulators and others are also pushing crypto into widespread adoption across the globe. This positive outlook has gathered pace under President Donald Trump’s pro-crypto stance.
