JPMorgan CEO Jamie Dimon has changed his skepticism towards digital assets. In a recent interview, he expressed support for stablecoins and acknowledged the importance of blockchain technology.
Dimon's Evolving View on Cryptocurrency
Jamie Dimon's stance on cryptocurrency has undergone significant changes. In 2017, he called Bitcoin a fraud, expressing concerns about currencies created out of thin air. He famously compared Bitcoin to the notorious 17th-century Dutch tulip mania and threatened to dismiss any JPMorgan trader dealing with crypto.
By 2018, he reiterated his critical view, calling Bitcoin useless, although he acknowledged blockchain's potential. In January 2024, he maintained his belief that Bitcoin lacks intrinsic value, yet continued to uphold blockchain's applicability.
Even as recently as early 2025, Dimon voiced worries over Bitcoin's association with illicit trades but confirmed the promise of blockchain applications.
JPMorgan's Cryptocurrency Strategy
Dimon emphasized that JPMorgan’s growing interest in cryptocurrency stems primarily from client demand rather than internal conviction. He stated the bank’s intent to accommodate customers’ wishes while acknowledging that all new financial products carry inherent risks.
The financial giant is actively expanding its involvement in the crypto space. As confirmed by Dimon in July, JPMorgan plans to issue a deposit coin and develop stablecoins to better understand and excel in this sector.
JPMorgan's Partnership with Coinbase
Reflecting this shift, JPMorgan announced a key partnership with Coinbase aimed at deepening crypto integration. Starting this fall, Chase credit card holders will be able to buy digital assets directly via Coinbase and redeem reward points for USDC stablecoins.
Furthermore, reports from the Financial Times suggest JPMorgan is exploring crypto-backed loans using Bitcoin as collateral, with a possible launch by 2026.
These moves signal JPMorgan's commitment to understanding and participating actively in the evolving digital asset landscape driven by market demand.
