Trump says JPMorgan’s Jamie Dimon no longer Bitcoin critic, considers him for Treasury Trump says JPMorgan’s Jamie Dimon no longer Bitcoin critic, considers him for Treasury
Dimon has been a long-standing critic of Bitcoin and cryptocurrencies but Trump recently shared that his stance has softened in recent months.
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Updated: Jul. 18, 2024 at 1:39 am UTC
World Economic Forum / CC BY-SA 2.0 / Flickr. Remixed by CryptoSlate
Former US president and Republican presidential candidate Donald Trump said JP Morgan chairman CEO Jamie Dimon has “changed his tune” toward Bitcoin and crypto, adding that he is willing to appoint the executive as Secretary of the Treasury.
Trump revealed the long-standing Bitcoin critic’s softening stance during an interview with Bloomberg, where he also called for the US to maintain dominance over the crypto sector. Notably, the statements were made in June despite the interview only recently being published.
Trump told the newswire:
ย “Iโve gotten to know people in the industry, theyโre top-flight people. And you ask Jamie Dimon, Jamie Dimon was, you know, very negative and now all of a sudden heโs changed his tune a little bit.”
In the same interview, Bloomberg asked Trump whether he might select Dimon as Secretary of Treasury. Trump responded:
“He is somebody that I would consider, sure.”
Trump described a June meeting with Dimon and other executives of top US companies coinciding with meetings with Republican Congress and Senate members. Trump said the JPM CEO was in attendance and expressed “a lot of respect” for the bank executive.
In 2016, Fortune reported that Trump’s transition team offered Dimon the position during his first term. However, Dimon ultimately declined the role.
More recently, in December 2023, Axios reported on the possibility of Dimon heading the Treasury, citing sources close to Trump’s campaign.
Dimon’s evolving stance
Dimon has long criticized Bitcoin and crypto. As early as 2017, he called Bitcoin a “fraud” and said he would fire any JP Morgan trader trading in the asset.
At the start of the year, he repeated his belief that crypto is aย Ponzi schemeย andย advanced severe criticisms of Bitcoin mining. However, a few months later, in March, he also said he would “defend” the right to buy and hold Bitcoin even if he would not do so himself, hinting at a softening stance.
Despite his negative statements about crypto, Dimon has been an avid advocate of the underlying blockchain technology. In 2022, he expressed support for DeFi and blockchain, calling each area a “real, new technology” in a letter to JP Morgan shareholders.
JP Morgan has been at the forefront of experimenting with distributed ledger technology and has several blockchain-based products, including its Liink network and JPM Coin.
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Author 
Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
JPMorgan
JPMorgan Chase & Co is a global leader in financial services, offering solutions to the world’s most important corporations, governments, and institutions in more than 100 countries.
A businessman, politician, and media personality, Donald John Trump served as the 45th president of the United States from 2017 to 2021.
Jamie Dimon, an American billionaire, business executive and banker, has held the dual roles of chairman and CEO of JPMorgan Chase since 2005.