Jamie Dimon: From “Bitcoin is a fraud” to “We’re taking Bitcoin as mortgage collateral.

The biggest U-turn in Wall Street history just happened and nobody’s talking about it loudly enough. Jamie Dimon spent 8 years trashing Bitcoin louder than anyone in finance and now JPMorgan is literally embracing the asset he swore he’d shut down.

Jamie Dimon’s Greatest Hits (2017–2024) Sept 12, 2017 — “Bitcoin is a fraud. I’d fire any trader at JPM who traded it.” Oct 13, 2017 — “If you’re stupid enough to buy it, you’ll pay the price.” Oct 12, 2021 — “Bitcoin is worthless.” Dec 6, 2023 — “If I were the government, I’d shut it down.” Jan 17, 2024 — “Bitcoin does nothing. I don’t care.” Mar 12, 2024 — “I’ll defend your right to buy it… but it’s used for crime.” Apr 18, 2024 — “Bitcoin is a scam… a fraud and a Ponzi scheme.”

Eight years of maximum salt. Pure hater energy.

And then… 2025 happened. The JPMorgan reversal (the REAL plot twist): Oct 24, 2025 — JPMorgan begins accepting Bitcoin as collateral for mortgages. Nov 26, 2025 — JPMorgan analysts issue a research note calling Bitcoin a “legitimate macro asset” with a price target of $240,000. Nov 26, 2025 JPMorgan rolls out a new Bitcoin ETF using IBIT derivatives to amplify returns. The same bank that mocked Bitcoin…now wants your Bitcoin for mortgages AND wants to sell you leveraged Bitcoin exposure. You can’t make this script up.

From “fraud,” “Ponzi scheme,” “scam,” and “shut it down”… to: “We will custody it, collateralize it, model it, ETF it, and project $240K targets.” This is not a buy recommendation. This is a historic capitulation from Bitcoin’s loudest critic — and a massive signal of how far adoption has moved.