Bitcoin
Strategy CEO Suggests JPMorgan Head Jamie Dimon Privately Backs Bitcoin
Phong Le argued on a recent podcast that Jamie Dimon understands and supports Bitcoin behind closed doors despite years of public skepticism from the banking executive.
Strategy CEO Phong Le claimed that JPMorgan Chase chief executive Jamie Dimon is privately supportive of Bitcoin despite his long-standing public criticism of the cryptocurrency. Le made the remarks during an interview on Natalie Brunell's Coin Stories podcast, commenting on his company's ambition to become the leading financial institution for Bitcoin-based investment products.
Le clarified that Strategy, formerly known as MicroStrategy and currently holding approximately 846,000 BTC representing about 4% of total supply, does not intend to operate as a commercial bank. Instead, he stated the firm aims to structure and distribute investment instruments around Bitcoin. Le also noted that Bitcoin will complement rather than replace traditional banking and the US dollar, identifying Bitcoin and artificial intelligence as the two defining technologies of the century.
Dimon's public statements have consistently opposed the asset, having labeled Bitcoin a "pet rock" in 2024 and comparing its purchase to smoking in January 2025 due to a perceived lack of intrinsic value. Despite Dimon's public stance, JPMorgan has expanded its involvement with digital assets, notably allowing institutional clients to utilize Bitcoin as loan collateral through third-party custodians in October 2025.
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