Donald Trump has revealed that JP Morgan CEO Jamie Dimon, a prominent skeptic of Bitcoin and cryptocurrencies, has “all of a sudden changed his tune”.
Dimon previously compared Bitcoin to cigarettes and said he would “close it down” if he were in government.
However, Dimon has now defended investors’ right to buy Bitcoin, stating “I don’t know what the Bitcoin itself is for, but I defend your right to buy a Bitcoin”.
This shift in Dimon’s stance coincides with a notable admission from the CEO of BlackRock about his previous misjudgment of Bitcoin, as well as the increasing involvement of Wall Street and the likelihood of significant political and regulatory changes.
Trump’s own stance on cryptocurrencies has also become more supportive, as he has started accepting campaign contributions in Bitcoin and other cryptocurrencies, in contrast with the Biden administration’s cautious approach.
Trump has also named J.D. Vance, a proponent of Bitcoin and cryptocurrencies, as his running mate for the 2024 election.