In a major shift in politics, Jimmy Damon, CEO of Jpmorgan Chase, was said to have announced today that the bank will allow its customers to buy Bitcoin.
This is a remarkable exit from its historically decisive position on Bitcoin and Cryptocurrency in general.
Does JPMorgan change his position on Bitcoin?
Speaking on the day of the 2025 JPMorgan investor, Damon stated that while he is personalized by Bitcoin, the bank will facilitate the customer purchases for digital assets. However, JPMorgan will not provide Bitcoin nursery services, which requires customers to manage storage through third -party service providers.
This development reflects a wider direction to increase institutional participation with digital assets. The investment banking services giant criticized the coding, and described Bitcoin as a “fraud” in 2017 and the “Bonzi Plan” earlier this year.
There are even rumors that Damon threatened to shoot the employees who traded bitcoin. The variable tone and the increasing decision reflects the customer’s demand and the advanced financial scene.
Also, this step is in line with the recent Blockchain initiatives from JPMorgan. Recently, the company has implemented the first organized transaction on Blockchain Public in cooperation with Ondo Finance and ChainLink.
Since the price of Bitcoin hovered about $ 105,000, is about to rise at all, changing JPMorgan policy may indicate a new era of prevailing financial institutions that adopt the cryptocurrency.
However, there is still an important warning – JPMorgan will not provide coded custody services.
The bank will allow bitcoin transactions, but do not store the digital assets for customers. Therefore, external nursery solutions are still required to preserve them.
Disintegration
All information on our website is published in good faith and for general information purposes only. Any action the reader takes on the information on our website on our own responsibility.
