- JPMorgan’s CEO has reportedly modified his tune on BTC.
- The crypto market neighborhood was divided on Dimon’s reported change in BTC stance.
JPMorgan’s CEO Jamie Dimon, a long-time Bitcoin [BTC] critic, has emerged as considered one of Donald Trump’s potential candidates for the U.S. Treasury.
In a current Bloomberg interview with Trump, the previous president complimented Dimon and began,
“Jamie Dimon was, you recognize, very adverse, and now rapidly he’s modified his tune a bit bit.”
The report added that the previous president would rethink Dimon for the secretary of Treasury.
Nevertheless, the JPMorgan chief and chairman have all the time been adverse about Bitcoin, the biggest digital asset.
Though Dimon acknowledged the potential of blockchain expertise, he didn’t see any use case for Bitcoin and equated BTC to a “pet rock“ in March.
“There are cryptocurrencies that do one thing that may have worth. After which there’s one which does nothing; I name it pet rock. The Bitcoin, or one thing like that.”
Has Jamie Dimon’s crypto stance modified?
The manager has maintained his assaults on Bitcoin and, at one level, referred to it as a “Ponzi scheme.” His onerous stance remained at the same time as a part of Wall Road warmed to the digital after the profitable launch of BTC ETFs in Q1.
In truth, in December 2023, Dimon suggested that he would “shut down crypto and Bitcoin” if he had been within the federal authorities.
In consequence, crypto market commentators have expressed reservations about Trump’s reported “change” in Dimon’s stance on Bitcoin and the general business.
On his half, Ben Sparango of the Solana Basis termed the purported change as,
“This looks as if extra of a Trump-train-of-thought exaggeration than it does an precise reflection of Jamie’s change of stance on crypto.”
Nevertheless, different business gamers, like David Bailey of Bitcoin Journal and a part of Trump’s marketing campaign workforce, consider that the previous president has convinced Dimon to alter his views on Bitcoin.
Within the meantime, the percentages of Trump profitable the 2024 U.S. presidential elections are above 60%, and it appears markets might start pricing his potential win.
Supply: Polymarket
Regardless of his coziness to Dimon, a Trump win could be anticipated to bolster crypto markets, as projected by market analyst Alex Kruger. Kruger argued that,
“Trump’s administration would possibly pursue supportive laws for cryptocurrencies, fostering innovation and adoption.”
In the meantime, BTC confronted rejection at $65K and consolidated beneath that degree forward of the probably launch of the Ethereum ETF on July twenty third.