Darkfost Reviews JPMorgan CEO's Shifting Stance on Bitcoin: From "Fraud" to Recognizing the Right to Buy
Odaily reports: Crypto analyst Darkfost published a post on X outlining the evolution of JPMorgan CEO Jamie Dimon's attitude toward Bitcoin in recent years.
In 2017, Dimon called Bitcoin a "fraud"; in 2018, he expressed regret over those remarks and acknowledged the value of blockchain technology; from 2019 to 2020, he said Bitcoin "doesn't appeal to him"; in 2021, he called it "worthless"; in 2023, he said that if he had the power, he would ban Bitcoin and other cryptocurrencies; and in 2024, he likened Bitcoin to "pet rocks" and a Ponzi scheme.
In 2025, Dimon still criticized Bitcoin for lacking value and being used for money laundering, but later stated that everyone has the right to buy Bitcoin. Now, JPMorgan in its 2027 outlook has listed Bitcoin as the asset with the best long-term return performance.
Previously reported, JPMorgan Asset Management released its "2027 Long-Term Capital Market Assumptions" report on October 19, including Bitcoin in its long-term return projections for the first time and forecasting a compound annual growth rate of 10% over the next 10 to 15 years, higher than the 7.5% for U.S. large-cap stocks, 5.5% for gold, and 8.2% for U.S. real estate investment trusts (REITs).
