Jamie Dimon once called Bitcoin
$BTC “a fraud.”
Today, his bank is preparing to sell it.
On Monday, JPMorgan filed SEC paperwork to offer leveraged Bitcoin-linked notes — 1.5x upside exposure, no performance cap, maturing in 2028.
The exact year of the next Bitcoin halving.
This is not innovation.
This is capitulation.
The largest bank in America just raised a white flag.
The Math Wall Street Doesn’t Want You To Run
The global bond market is worth $145.1 trillion — yes, trillion — tied up in fiat instruments backed by governments that printed record amounts of money during the pandemic.
Meanwhile, Bitcoin’s supply is forever fixed at 21 million.
No emergency money printing.
No bailouts.
No Chairman’s speech.
Pure mathematical scarcity.
When scarcity collides with $145 trillion in debt-heavy capital, only one thing happens: migration
The Hidden Trigger No One Is Talking About
On January 15, 2026, MSCI will decide whether to remove Strategy (the world’s largest public Bitcoin holder) from major stock indices.
If removed, the market faces:
$8.8 billion in forced selling
649,870 BTC held
Cost basis: $74,433
Current price: $91,300
A razor-thin margin for volatility
Everyone sees the selloff risk.
But nobody sees the moat behind it:
The IRS just exempted unrealized Bitcoin gains from the 15% corporate minimum tax.
That’s $1.65 billion Strategy does not owe.
The message is clear:
Bitcoin’s legal and financial structure is becoming harder to attack — and easier to adopt.
JPMorgan’s Real Move: Not Fighting Bitcoin, But Owning the Toll Roads
JPMorgan isn’t embracing Bitcoin out of love.
They are building the tollbooths for when trillions migrate from:
paper promises → mathematical certainty.
They want the fees.
They want the gateways.
They want to sit between Bitcoin and every institutional investor on earth.
The world’s biggest bank versus the world’s biggest Bitcoin company.
Only one of them satisfies both:
The demand for hard collateral
The need for a sovereign, incorruptible asset
Forty-Seven Days Until the Decision That Reshapes Global Finance
A forced-sale event.
A tax advantage no analyst expected.
A global debt market begging for yield.
A banking giant quietly positioning itself for a Bitcoin future.
The great collateral migration has already begun.
And this time, Wall Street isn’t fighting it —
it’s preparing to follow it.
$BTC ?
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