JPMorgan Chase customers will soon be able to purchase cryptocurrencies through the bank, though the institution won’t hold the digital assets itself, according to an announcement from CEO Jamie Dimon. The move represents a significant shift for the banking giant, whose chief executive has previously been openly skeptical about cryptocurrencies.
“We are going to allow you to buy it,” Dimon said at the bank’s annual investor day on Monday. “We’re not going to custody it. We’re going to put it in statements for clients,” according to CNBC.
The announcement marks an evolution in Dimon’s stance, who famously described Bitcoin as “a hyped up fraud, a pet rock” in 2023. Despite his personal reservations, Dimon acknowledged client demand, stating: “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy bitcoin.”
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