Saylor Reacts to JPMorgans Bitcoin U-Turn

Crypto is getting increasingly integrated into the financial sector, with other banks of the likes of Morgan Stanley also working on expanding their digital asset services.

As Bloomberg‘s Eric Balchunas notes, crypto continues to get “absorbed” into Wall Street’s plumbing.

Dimon refuses to comment on Bitcoin

In the meantime, JPMorgan CEO Jamie Dimon recently refused to comment on Bitcoin while complaining about getting “death threats” from the crypto community.

Dimon, of course, has been a staunch opponent of the leading cryptocurrency. He previously described the flagship coin as “fraud” or a “pet rock.”

However, the bank continues to embrace crypto despite the fact that its longtime boss continues to resent it.

Last year, Saylor, who himself was a Bitcoin critic in the past, took aim at Dimons “pet rock” comment, insisting that the leading cryptocurrency by market cap actually fits the definition of digital money.

If you encounter a strange new asset (“Pet Rock”) circulating on a blockchain that “does nothing” other than allow people to own something they can “trade among themselves” without fear of debasement or theft, you have just discovered digital money. #Bitcoin

— Michael Saylor (@saylor) January 17, 2024