Jamie Dimon Once Called Bitcoin a ‘Fraud.’ Now, JPMorgan Is Quietly Making Blockchain History and Betting This ‘Crypto Winter’ Will Be Short-Lived.

Jamie Dimon Once Called Bitcoin a ‘Fraud.’ Now, JPMorgan Is Quietly Making Blockchain History and Betting This ‘Crypto Winter’ Will Be Short-Lived. Justin Estes Wed, December 3, 2025 at 8:25 PM GMT+5:30 3 min read JPM BTC-USD JPMorgan (JPM) CEO Jamie Dimon famously called Bitcoin (BTCUSD) a “fraud” in 2017 and spent years comparing it to pet rocks, suggesting that its primary purpose is to serve scammers and money launderers. At times, his comments have sunk the Bitcoin price, with many on Wall Street looking to Dimon as a “guru” on all things finance.