- Trump is considering JP Morgan CEO Jamie Dimon for Treasury Secretary despite Dimon’s past criticism of Bitcoin.
- Dimon’s stance on Bitcoin has softened, showing more respect for it in a recent meeting with Trump and other executives.
- Despite his crypto criticism, Dimon supports blockchain technology, backing DeFi and blockchain initiatives at JP Morgan.
Former US President Donald Trump has pointed out that Jamie Dimon, JP Morgan’s Chairman and CEO, has adopted a more supportive position toward Bitcoin and crypto assets. This statement was made during an interview with Bloomberg, in which Trump underlined the need of maintaining US dominance in the cryptocurrency market.
BIG BREAKING
— BITCOINLFG® (@bitcoinlfgo) July 18, 2024
DONALD TRUMP SAYS JAMIE DIMON HAS SUDDENLY “CHANGED HIS TUNE” ON HIS ANTI #BITCOIN STANCE — FORBES.pic.twitter.com/kux8HJZ9Qy
The interview provided insight into a meeting that took place between Trump, Dimon, and other senior executives from major US corporations. During this meeting, Trump noted that Dimon showed notable respect for Bitcoin, which is a change from Dimon’s prior views.
In 2016, Trump’s transition team reportedly offered Dimon the position of Secretary of the Treasury during his first term. Despite declining the position at the moment, Dimon’s recent position on cryptocurrency may affect his decisions in the future.
Dimon has been an outspoken critic of bitcoin. He famously called Bitcoin a ‘fraud’ in 2017 and threatened to fire any JP Morgan dealer found dealing in the cryptocurrency.
However, by March this year, his stance softened a little, and he acknowledged the right to buy and hold Bitcoin, even though he personally would not invest.
Despite his criticism of cryptocurrencies, Dimon has been an advocate for blockchain technology. In a 2022 letter to JP Morgan shareholders, he indicated strong backing for decentralized finance and blockchain, referring to them as real and promising technologies.
JP Morgan has taken a proactive approach to distributed ledger technology under Dimon’s leadership, creating various blockchain-based products such as the Link network and JPM Coin.
Trump’s possible consideration of Dimon for a Treasury position, alongside Dimon’s change of attitude on cryptocurrency, indicates a shift in how business elites view the rapidly growing sector.
Trump’s recent remarks regarding Dimon’s shifting views on Bitcoin and his likely appointment as Secretary of the Treasury indicate a turning point in the integration of finance and digital assets.
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