Key dealers
- JPMorgan allows customers to buy bitcoin but will not provide custody services.
- CEO Jamie Dimon has shifted from his previous criticism to allowing Bitcoin purchases, despite skepticism.
JPMorgan will soon allow customers to buy Bitcoin, although it will not provide custody services for the asset, CEO Jamie Dimon confirmed on Monday during the company’s Investor Day event.
Although Dimon still says he is not a fan of bitcoin, the statement shows how much has changed since 2017. Then he dismissed Bitcoin as a “fraud”, compared it to the tulip bubble and predicted its collapse.
Dimon even warned that he would fire all employees in JPMorgan who found trading with it, called the law “stupid” and against fixed policy.
The latest statement comes after Dimon explained in an interview 2024 CNBC that he would do No longer discuss bitcoin publicly.
He also said during the interview that Bitcoin “has no internal value” and is strongly used by criminals involved in sex trafficking, money laundering and ransomware activities.
At Blockchain, Dimon said it was overvalued. Last week, however, JPMorgan Chase carried out its first structured transaction on a public blockchain, in collaboration with Ondo Finance and Chainlink.
The company has been involved in several blockchain-based initiatives in recent years.