Key Takeaways:
American Bitcoin Corp. (NASDAQ:ABTC) co-founder Eric Trump said JPMorgan Chase & Co.’s turnaround on Bitcoin represents a significant victory for the digital asset industry, showing how quickly institutional attitudes are changing.
"JPMorgan, who was crapping all over bitcoin 18 months ago, saying it was a joke asset... now they're allowing people to take down home mortgages against their bitcoin holdings," Trump said Wednesday at the Consensus Miami 2026 conference. "The financial institutions all realize that they've lost and they can no longer push back."
The comments highlight a stark reversal from the bank's historical position, largely shaped by CEO Jamie Dimon, a long-time and vocal critic of cryptocurrencies. While Dimon has remained skeptical, JPMorgan has become increasingly involved in blockchain technology, recently completing a tokenized U.S. Treasury settlement pilot with Mastercard and Ripple on the XRP Ledger. Trump's firm, American Bitcoin, is ranked as the 16th largest public holder of bitcoin and is pursuing a strategy to mine the asset at "50 cents on the dollar," according to Trump.
The shift at a major institution like JPMorgan, even if gradual and complex, reinforces the narrative of growing institutional acceptance of Bitcoin as a legitimate asset class. For proponents, seeing a top-tier bank move from public criticism to using Bitcoin as collateral is a key sign of market maturation and a potential catalyst for further capital inflows from traditional finance.
This article is for informational purposes only and does not constitute investment advice.
