JPMorgan Chase CEO Jamie Dimon updates bank’s Bitcoin policy
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Key Takeaways Bitcoin hit a new record high of more than $111,800 around midnight ET Thursday, lifting shares of cryptocurrency-related firms.The digital asset hit the $110,000 mark for the first time Wednesday.
JPMorgan Chase joins Morgan Stanley and others in supporting Bitcoin It'll show on statements, but JPMorgan won't custody Bitcoin CEO Jamie Dimon is still sceptical about cryptocurrency JPMorgan Chase announced at the company's annual investor day that the banking giant will now allow clients to buy Bitcoin,
The action by JPMorgan is consistent with a broader trend in financial institutions jumping into cryptocurrency products.
Bitcoin soared to a fresh record on Wednesday amid increasing acceptance of cryptocurrencies on Capitol Hill and Wall Street.
Bitcoin’s value broke the $100,000 mark for the first time in early December and moved even higher later in the month before pricing eased a bit. The digital token ended 2024 up over 100% for the year, with about half that gain realized after President Donald Trump‘s election victory in early November.
At the bank’s annual investor day on Monday, Dimon announced a final decision on Bitcoin as he made it clear that the bank will allow its customers to purchase the cryptocurrency despite his own personal beliefs.