Key Points:
- Jamie Dimon, CEO of JPMorgan, believes the U.S. needs to give precedence to defense supplies over accumulating bitcoin.
- Dimon highlighted that the U.S. is only prepared with missile stock for a week in any potential South China Sea conflict.
- Despite his skepticism about BTC, JPMorgan is set to allow clients to purchase bitcoin in the near future.
JPMorgan’s CEO Jamie Dimon recently stated that the United States should be ready for potential wartime scenarios instead of banking on a future driven by bitcoin. During the Reagan National Defense Forum in California on Friday, Dimon argued against the government’s push to build a national digital asset reserve, insisting that actual defense needs should come before digital currencies.
“We shouldn’t be stockpiling bitcoins. We know what we need. It’s not a mystery,” Dimon asserted, emphasizing the necessity for “guns, bullets, tanks, planes, drones, and rare earths.”
Earlier in the year, President Donald Trump suggested a governmental move towards establishing a bitcoin reserve, but Dimon remains doubtful about this strategy.
He raised concerns: “If there’s a war in the South China Sea, we’ve got missiles for seven days. That’s not something we should be saying with a straight face.”
Known for his critical stance on cryptocurrency, Dimon revealed that JPMorgan will soon enable its clients to acquire bitcoin separately.
