During JP Morgan's investor day, CEO Jamie Dimon revealed that the bank will soon permit customers to buy Bitcoin, marking a significant shift in the institution's stance on the cryptocurrency. Despite Dimon's previous criticisms of Bitcoin, including labeling it as a 'fraud' and a 'pet rock,' JP Morgan will now facilitate BTC purchases for clients, although it will not provide custody services. This move reflects a broader acceptance of digital assets within the traditional finance sector, with other major U.S. banks also exploring crypto offerings. Dimon's change in approach is likely driven by increasing client demand for exposure to Bitcoin. While remaining skeptical of Bitcoin itself, Dimon has acknowledged the potential of blockchain technology, which JP Morgan has utilized for internal projects. The regulatory environment in the U.S. has also become more favorable towards cryptocurrencies, with recent policy changes allowing banks to custody digital assets. Read more AI-generated news on: https://app.chaingpt.org/news

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