Jamie Dimon’s Stunning Shift | From Bitcoin Critic to Mortgage Collateral
Edited By
Laura Martinez
In a shocking turn of events, Jamie Dimon, CEO of JPMorgan, has made headlines after shifting from his long-standing criticism of Bitcoin to now accepting it as collateral for mortgages. This enormous U-turn marks a significant moment in the financial world, echoing both controversy and curiosity.
A Brief History of Dimon’s Bitcoin Dissent
For years, Dimon was vocally opposed to Bitcoin, labeling it variously as a "fraud," "scam," and even a "Ponzi scheme." His public denouncements spanned from 2017 to 2024:
Sept 12, 2017: "Bitcoin is a fraud. I’d fire any trader at JPM who traded it."
Oct 12, 2021: "Bitcoin is worthless."
Jan 17, 2024: "Bitcoin does nothing. I don’t care."
Suddenly, in October 2025, Dimon’s rhetoric shifted.
The Turning Point in 2025
On Oct 24, 2025, JPMorgan began accepting Bitcoin as mortgage collateral, a move that truly catches the eye. Just over a month later, on Nov 26, 2025, their analysts labeled Bitcoin a "legitimate macro asset" with an astonishing price target of $240,000. They also introduced a Bitcoin ETF utilizing IBIT derivatives.
"From 'fraud' to embracing Bitcoin for mortgages, the irony is thick," one commentator noted.
Public Reactions: Mixed Sentiments
Responses to this drastic pivot have varied widely:
Critics question the legitimacy of using Bitcoin in this manner, pointing out that it may not be applicable for average consumers seeking mortgage loans.
Supporters have expressed their newfound approval of Dimon's change of heart, some stating, "I’m glad Jamie has come around to Bitcoin's value."
Skeptics remain wary, speculating that banks may exploit the situation. Expecting events like margin calls on homes, one user commented, "They want you to give up your Bitcoin as collateral."
Key Takeaways
△ JPMorgan now accepts Bitcoin as collateral for mortgages.
▽ Analysts predict Bitcoin could reach $240,000.
※ "He does whatever maximizes JPMorgan's profits" - Reflects public sentiment.
Interestingly, many view this shift as signaling that financial institutions may be nervous about Bitcoin’s growing influence in the market. "Banks are starting to become increasingly scared of Bitcoin," noted one user.
As we continue to witness rapid changes in the world of finance, one question remains: what’s next for Bitcoin critics turned proponents? This may be just the beginning of a larger trend.
Possible Futures for Bitcoin and Banking
As JPMorgan embraces Bitcoin, the banking landscape could shift dramatically over the next few years. There's a strong chance we will witness more financial institutions following suit, with estimates suggesting around 25% of major banks may start offering cryptocurrency services by 2026. This trend could further legitimize Bitcoin in everyday transactions, and if market predictions hold, analysts expect Bitcoin could exceed $240,000 within the next two years. The evolving acceptance of Bitcoin as an asset may encourage mainstream consumers to view it as a valid financial instrument, fostering an environment for regulatory clarity. However, skeptics warn of potential pitfalls, such as increased volatility and margin calls, which could lead to a rocky transition for both banks and borrowers alike.
Drawing Unlikely Parallels in Change
This banking pivot mirrors the transformation seen during the rise of credit cards in the late 20th century. Initially dismissed by many as a fad, credit cards faced resistance from consumers and financial institutions alike. However, as businesses adapted and the technology matured, credit cards became a staple in everyday transactions. Just as credit cards revolutionized consumer spending and reshaped banking dynamics, Bitcoin’s acceptance could herald a new era in financial operations. Thus, it highlights how institutions often react to trends not by resisting outright but by gradually embracing what can help them maintain relevance in a changing economy.