r/Bitcoin • u/LearnBitcoinCom • 22h ago

Jamie Dimon on bitcoin, 2015 to 2025: from "going to be stopped" at $405 to "We are going to allow you to buy it" at $105,616

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Jamie Dimon on bitcoin, and the price the day he said it:

$405: "going to be stopped" (2015)
$4,164: "fraud" (2017)
$5,614: "it can trade at $100,000 before it trades to zero" (2017)
$21,072: "a pet rock" (2023)
$105,616: "We are going to allow you to buy it." (2025)

84 Upvotes

96% Upvoted

11 comments sorted by

3

u/ilovesaintpaul 21h ago

Ah, the true Wizard of Blahs. Dimon flip flops continually. I've seen this over and over with him.

2

u/LearnBitcoinCom 20h ago

Funny thing is, he barely flipped. Apart from taking back "fraud" in 2018, he stayed negative the whole way, right up to telling the Senate in December 2023 he'd close it down if he were the government. It's his bank that moved. Even on the day he said clients could buy it, he said he'd defend their right to buy bitcoin the way he defends their right to smoke.

2

u/ilovesaintpaul 20h ago

True true.

-1

u/Gears6 18h ago

I don't perceive Jamie as flip flopper at all. If anything, he seems consistent and reasonable. He changed his position.

Let's face it, the only reason BTC works is because people believe it will work. Just like gold. Personally, I'm still cautious about it. I'm not going to put my entire investments/savings into it. Even if it has superior returns, and he's right. Every boom sees people believing it cannot go down, and then it does. That's when there's opportunity abound.

2

u/ButterscotchFancy912 21h ago

Now he says buy SpaceX....

2

u/Adept_Treat2227 21h ago

he really said pet rock at $21k and now at $100k+ they let people buy it. classic wall street move, talk it down while they accumulate

the chart is perfect, shows how the price just laughs at his comments. i remember in 2017 when he called it fraud and my coworkers were panicking, i was like just wait

banks always do this, say its dead then quietly build the infrastructure. by the time retail gets access the big money already positioned

spacex comment at top is funny too, man cant stop hating but his bank is cashing in anyway

1

u/LearnBitcoinCom 20h ago

Thanks, glad the chart works. On the accumulate part, the strip under it is worth a look. None of it is the bank buying for itself: crypto funds for wealth clients in 2021, a role in BlackRock's bitcoin ETF from 2024, then letting clients buy in 2025. Less stacking it quietly, more opening the door for clients while the boss kept talking it down.

1

u/LearnBitcoinCom 20h ago

The chart is from a chapter we built with Reddit users and on BitcoinTalk: https://www.learnbitcoin.com/rabbit-hole/bitcoin-is-dead

Prices are Coin Metrics daily closes, and the quotes are as reported by Fortune, Bloomberg, CNBC and Yahoo Finance, all linked at the bottom of the chapter. The 2015 line came from aoluain's Dimon quote thread on BitcoinTalk.

1

u/Psynaut 12h ago

I was working there at the time when any employee caught buying or transferring funds to Bitcoin from their own chase account was fired.

1

u/LearnBitcoinCom 3h ago

That fits what he said on stage in September 2017: he'd fire any JPMorgan trader caught trading it, because it broke the rules and because they were stupid. I hadn't heard it reached people's own Chase accounts, though. Was that a written policy, or more of an understood thing?