From Jamie Dimon to Donald Trump: Why everyone eventually understands Bitcoin
It may take a minute to get to grips with magic internet money, but once you see the scarcity, durability, and predictability, it somehow all falls into place. From Jamie Dimon to Donald Trump, eventually everyone understands Bitcoin.
Eventually everyone understands Bitcoin
Anthony Pompliano summed it up best, against an image of some high-profile personalities, including Donald Trump, Jamie Dimon, and Jerome Powell, who have changed their tune on the number-one coin. He said:
“Eventually everyone understands bitcoin.”
In the beginning, the idea of a decentralized digital currency was met with skepticism, derision, and sometimes outright hostility. Yet, as the years have passed, some of the world’s most influential voices from Wall Street to Washington have changed their tunes, making Bitcoin’s journey from a fringe obsession to a mainstream asset nothing short of historic.
Titans of finance: changing their minds
Take Jamie Dimon, the CEO of JPMorgan Chase. In 2017, he called Bitcoin a “fraud,” threatened to fire employees who traded it, and warned of government crackdowns. Fast-forward to the present, JPMorgan offers Bitcoin exposure to clients and Dimon regularly attends crypto panels. He’s critical of specifics, but his institution is deeply entrenched in blockchain finance.
BlackRock CEO Larry Fink went from calling Bitcoin “an index of money laundering” to overseeing the world’s largest asset manager issuing a Bitcoin ETF and publicly referring to it as “digital gold.” Fink’s pivot stunned markets and signaled a shift in how legacy finance regards the new digital economy.
Jerome Powell, Chair of the Federal Reserve, was also skeptical about crypto for years. Yet under his watch, the Fed now closely monitors Bitcoin, citing its relevance to global markets and even a “competitor to gold.”
Politicians and power players
Donald Trump once dismissed Bitcoin as being highly volatile and based on thin air. But by 2024, Trump was reportedly courting crypto donors and acknowledging Bitcoin’s increasing significance, reflecting the asset’s growing political clout.
Michael Saylor, now synonymous with Bitcoin advocacy, wasn’t always a maximalist. Before 2020, Saylor publicly doubted Bitcoin’s longevity, calling its days “numbered” as far back as 2013. Now, his company MicroStrategy holds more BTC than any other publicly traded firm (over 636,000 coins) and Saylor has personally become its most famous evangelist.
And Mark Cuban spent years calling Bitcoin no different from bananas and raising doubts about its utility. Today, he’s an active participant in the crypto and NFT ecosystems, holding Bitcoin and advising blockchain companies. In other words? Eventually, everyone understands Bitcoin.
Governments join the fold
If the world’s biggest names can change their minds, so can entire governments. According to the Visual Capitalist, the United States is now the largest holder of Bitcoin, with China following closely.
These holdings are often the result of law enforcement seizures or strategic mining, but the fact remains: global governments hold thousands (sometimes hundreds of thousands) of bitcoins, quietly shifting from outright bans to accumulation and research.
Bitcoin’s path to mainstream acceptance has been paved with resistance and then recognition. Whether driven by economic imperatives, technological curiosity, or simply the fear of missing out, figures like Jamie Dimon and Donald Trump have finally come to the same realization: Bitcoin is here, and it is inevitable; even governments now hold Bitcoin as part of their strategic reserves.
What was once met with skepticism and doubt is now universally accepted at the highest level, proving Pompliano right that, despite the resistance, eventually everyone understands Bitcoin.
The post From Jamie Dimon to Donald Trump: Why everyone eventually understands Bitcoin appeared first on CryptoSlate.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
From yen rate hikes to mining farms shutting down, why is bitcoin still falling?
The recent decline in bitcoin prices is primarily driven by expectations of a rate hike by the Bank of Japan, uncertainty regarding the US Federal Reserve's rate cut trajectory, and systemic de-risking by market participants. Japan's potential rate hike may trigger the unwinding of global arbitrage trades, leading to a sell-off in risk assets. At the same time, increased uncertainty over US rate cuts has intensified market volatility. In addition, selling by long-term holders, miners, and market makers has further amplified the price drop. Summary generated by Mars AI This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.
The Economist: The Real Threat of Cryptocurrency to Traditional Banks
The crypto industry is replacing Wall Street's privileged status within the American right-wing camp.
Grayscale's Top 10 Crypto Predictions: Key Trends for 2026 You Can't Miss
The market is transitioning from an emotion-driven cycle of speculation to a phase of structural differentiation driven by regulatory channels, long-term capital, and fundamental-based pricing.
From Yen Interest Rate Hike to Mining Farm Shutdown, Why Is Bitcoin Still Falling
The market is down again, but this may not be a good buying opportunity this time.
Trending news
MoreCrypto prices
More
