JPMorgan opens up to Bitcoin: conviction or market pressure?
Jamie Dimon, CEO of JPMorgan and one of the harshest critics of Bitcoin, has just made an unexpected turn: the bank will allow its clients to purchase the cryptocurrency. Although it will not directly custody BTC, it will include the investment in the account statements, marking a significant change in its institutional stance.
"We are going to allow you to buy it... but we are not going to custody it," Dimon stated on May 19. This opening comes as the bank prepares to offer access to Bitcoin ETFs, thus joining the growing wave of adoption led by firms like Morgan Stanley.
Despite the change, Dimon has not softened his view on cryptocurrencies. He has openly associated them with illegal activities such as money laundering and terrorism. "I have always been deeply opposed to cryptocurrencies," he stated, comparing Bitcoin to a "pet rock."
However, the facts speak louder than words: with Bitcoin surpassing 100,000 dollars and almost 42 billion dollars flowing into ETFs in the U.S. since January, large banks seem to be yielding to institutional and retail demand.
Is this move a real acceptance of Bitcoin or simply a strategy to avoid being left behind in the new financial ecosystem? The truth is that even traditional giants can no longer ignore the impact of digital assets.
