Jimmy Damon says we have to store bullets, not bitcoin

Jpmorgan Chase & Co. Jpm CEO Jimmy Damon presented a pointed message on the national security policy at the National Economic Forum Reagan on Friday.

the details: The head of the country’s largest bank spoke to a group that gathered and argued that the United States should focus more on traditional defense priorities and less on Bitcoin BTC/USD.

“We do not need to store bitcoin,” Damon said. “We must store weapons, lead, tanks, aircraft, drones, as you know, rare land – we know what we need to do, it is not a mystery.”

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Demon said that JPMorgan will publish a “defensive business model” aimed at directing industry and government towards eliminating excessive production surpluses and increasing defense spending, among other recommendations.

He also criticized the army’s dependence on long -term purchase courses and suggested the need to become more flexible with contracts for the axis of advanced technologies when necessary.

“The army cannot have a 30 -year program,” and urged it to a growing choir in Washington, calling for an increase in defense budgets and a faster modernization to keep pace with global competitors.

Why do it matter: Damon’s comments on the importance of increasing defense spending and preparations in the name of national security amid a great debate about America’s role in the world, where politicians are struggling with a balance between local needs and global security obligations.

However, Dimon’s comments on Bitcoin were not surprising because the CEO of Jpmorgan was constantly skeptical of the encrypted currency and said he had “no fundamental value” in an interview with CBS 2025.

“It is widely used by sexual travelers, by money laundering, Ransomwari. So I am not comfortable with bitcoin,” he added.

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