Jamie Dimon | Wall Street's Shocking Shift | Bitcoin Now Collateral for Mortgages
Edited By
Lila Thompson
In a striking turn, Jamie Dimon and JPMorgan Chase have embraced Bitcoin, a significant shift from eight years of harsh criticism. On Oct 24, 2025, the bank announced it would accept Bitcoin as collateral for mortgages. The change comes amid ongoing discussions within the finance world about Bitcoin's legitimacy and value.
A History of Criticism
Dimon's disdain for Bitcoin was evident over the years:
2017: Called it a "fraud" and threatened to fire any trader dealing with it.
2021: Dubbed it "worthless."
2024: Described it as a "scam" and a "Ponzi scheme."
His public disdain set a tone for Wall Street's skepticism toward cryptocurrencies. Now, his bank wants to use it to back potential home loans—a major flip.
What Changed?
On Nov 26, 2025, JPMorgan analysts labeled Bitcoin a "legitimate macro asset" with an optimistic price target of $240,000. Not only that, they rolled out a new Bitcoin ETF to amplify returns.
This shift raises eyebrows among industry experts. "Curiously, how do you go from calling it trash to using it as a cornerstone of mortgage finance?" questioned one commenter on forums.
Voices from the Community
Reactions from the people reflect mixed sentiments:
Skepticism: Some pointed out that institutional clients could use Bitcoin ETF shares, not actual Bitcoin, for loans.
Caution: Others warned that JPMorgan could be using this strategy to short Bitcoin, creating risks for ordinary people.
Support: Yet, some are optimistic, stating, "Glad Jamie has come around to Bitcoin's value."
"They do whatever maximizes JPMorgan's profits," remarked a thoughtful observer. It underscores skepticism about motives behind this pivot.
Key Takeaways
🔄 Major Shift: JPMorgan now accepts Bitcoin as mortgage collateral.
🏦 New ETF Launched: A Bitcoin ETF will provide leveraged exposure to the asset.
📈 Analysts Optimistic: Bitcoin price target set at $240,000.
The Future Ahead
As this story develops, it raises significant questions about the future of banking and Bitcoin's role in it. Can an asset once deemed fraudulent truly be integrated into mainstream finance? As Dimon once said, "Bitcoin does nothing," but now, it could be the key to home ownership.
Is this a trend that other banks will follow? One thing's for sure: the world of finance is watching closely.
The Path Forward for Bitcoin in Banking
Experts predict a strong chance that more banks will follow JPMorgan's lead and begin accepting Bitcoin as collateral for loans. With increasing acceptance, analysts estimate around 30% of financial institutions could adopt similar policies in the next two years. This shift may stem from a combination of pressure to innovate and the need to remain competitive in a rapidly changing market. As regulatory frameworks catch up with cryptocurrencies, we might see a future where digital assets become standard in lending practices, reshaping home financing for a new generation.
From Stocks to Crypto: A Historical Shift
Reflecting on the 1980s, we can view this pivot toward Bitcoin akin to the emergence of corporate bonds when traditional stocks were the only mainstay for investors. Back then, many investors frowned upon bonds, viewing them as low-risk, low-reward investments compared to the booming stock market. However, as economic landscapes shifted, bonds gained traction, evolving into a crucial component of diversified portfolios. Similarly, Bitcoin may transition from skepticism to a respected asset class within the finance world, forcing the entire industry to reassess its worth and relevance.