Bitcoin
Bitcoin
shot higher in the last year, The CEO of the world’s largest asset manager, BlackRock, admits he made a mistake on bitcoin.

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The price of bitcoin has almost returned to its all-time high, driven by the long-awaited arrival of Wall Street It is the growing possibility of a major political and regulatory earthquake.

Now, as Treasury Secretary Janet Yellen admits her fears about the future of the US dollarFormer US President and 2024 Republican White House candidate Donald Trump has revealed that JPMorgan CEO Jamie Dimon, a big skeptic of bitcoin and cryptocurrencies, has “suddenly changed his mind.”

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ForbesProject 2025 Sets Bitcoin Up for a $16 Trillion Price Showdown With GoldBy

US President Donald Trump met with JPMorgan Chief Executive Jamie Dimon, who has previously criticized… [+] bitcoin, cryptocurrencies amid wild price swings, and about 80 other top CEOs last month.

© 2017 Bloomberg Finance LP

“Jamie Dimon was, you know, very negative and now all of a sudden he’s changed his tune a little bit,” Trump said. counted Bloomberg spoke last month after a private hearing in which he met with Dimon and about 80 other business executives, including the CEO of Citi, the CEO of Bank of America and Apple CEO Tim Cook, and was described by Trump as a “love fest.”

Dimon has remained a fiercely outspoken critic of bitcoin and cryptocurrencies even as Wall Street began warming to the technology, calling it a “fraud” and a “Ponzi scheme” in April. Dimon has said that if he were in government, he would “shut it down” and has labeled bitcoin a “waste of time,” calling it a “pet rock” that “does nothing.”

However, Dimon led JPMorgan in developing and deploying its own blockchain and cryptocurrency, JPM coin, to speed up and reduce the cost of transactions.

Trump also did not rule out considering Dimon for U.S. Treasury secretary if he returns to the White House in November, saying he has “great respect for Jamie Dimon.” JPMorgan declined to comment on Trump’s remarks when asked asked by Reuters.

This week, Trump named pro-bitcoin and cryptocurrency former venture capitalist JD Vance as his 2024 running mate.

Trump has leaned into bitcoin and crypto in recent months after making millions from a series of crypto-based digital trading card non-fungible tokens (NFTs) and putting him at sharp odds with the Biden administration’s anti-crypto stance. Trump declared support for crypto in late May and began accepting campaign donations in bitcoin and a handful of other cryptocurrencies.

“I’ve met people in the industry, they’re top-notch people,” said Trump, who met with major U.S. bitcoin mining companies last month and is being advised by Bitcoin Magazine editor David Bailey. Bailey has lined up Trump as a keynote speaker at his Bitcoin 2024 conference in Nashville later this month.

Last month, Trump went on a crypto charm offensive during a Silicon Valley fundraiser hosted by investors David Sacks and Chamath Palihapitiya last month. reported by Reuters. “He said he would be the president of crypto,” Trevor Traina, a San Francisco technology executive and former Trump ambassador to Austria, told the news agency.

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ForbesA warning of an imminent stock market “correction” suddenly flashed red — just as the S&P 500, Dow and Nasdaq hit all-time highsBy

Bitcoin’s price has risen sharply since the crash caused by the FTX implosion, helped by Wall Street’s… [+] Street’s long-awaited arrival on bitcoin and cryptocurrencies.

Forbes Digital Assets

Trump told Bloomberg he is planning to release another collection of NFTs after teasing the idea during an event for holders of his mugshot NFTs at his Mar-a-Lago, Florida, home in May. “The whole thing sold out: 45,000 of the cards. And I did that three times [and] I’m going to do another one because people want me to do another one. It’s an unbelievable spirit. Beautiful,” Trump said.

Trump also reiterated his previous calls for bitcoin and crypto companies to come to the U.S. instead of China or another country. Trump said in June that he wants all remaining bitcoin to be made in the U.S., claiming that doing so will “help us become energy dominant.”

“If I put this aside, it’s going to be picked up by another country, probably China — they’re very advanced in that sphere,” Trump said. “It’s a baby. It’s a child now. But I don’t want to be responsible for allowing another country to take over that sphere.”

Cryptocurrency Entrepreneur Justin Sun predicted last week that China is about to change its mind about bitcoin and cryptocurrencies as a cryptocurrency investor Brock Pierce said it is only a matter of time before China reopens its digital doors to cryptocurrencies, calling it “inevitable.”

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