Strategy CEO Phong Le asserts that JPMorgan chief Jamie Dimon privately backs Bitcoin, despite years of public criticism. Le shared this half-joking perspective during an appearance on Natalie Brunell’s Coin Stories podcast.
Strategy, formerly known as MicroStrategy, is a US software enterprise that stands as the largest corporate holder of Bitcoin (BTC). The organization maintains roughly 846,000 coins, which accounts for about 4% of all existing Bitcoin.
Why Phong Le Calls Jamie Dimon a Bitcoin Believer
When Brunell asked how Dimon might view Strategy’s ambition to become the “JPMorgan of Bitcoin,” Le responded with a laugh.
“I think Jamie Dimon is a Bitcoiner behind the scenes, but he’ll say what he needs to say externally. I think everyone is a Bitcoiner privately once they learn and understand Bitcoin,” he stated.
Le clarified that he does not intend for MicroStrategy to operate as a bank. Instead, he envisions the company positioning itself at the heart of Bitcoin-centric finance, generating and offering investment products similarly to how JPMorgan functions on Wall Street.
Furthermore, he disputed the notion that Bitcoin will displace traditional banks. In his perspective, the cryptocurrency will enhance the existing financial infrastructure while the US dollar remains in place. Le also noted that Bitcoin and artificial intelligence (AI) represent the two most critical technological advancements of this century.
What Jamie Dimon Has Said About Bitcoin
Dimon’s public track record leans in the opposite direction. Back in 2024, he criticized Bitcoin as a “pet rock” devoid of utility.
During January 2025, he drew a parallel between purchasing Bitcoin and smoking, arguing that individuals possess the right to do so despite it being ill-advised.
“We are going to have some kind of digital currency at some point. I’m not against crypto. You know, Bitcoin itself has no intrinsic value. It’s used heavily by sex traffickers, money launderers, ransomware…I just don’t feel great about Bitcoin. I applaud your ability to wanna buy or sell it. Just like I think you have the right to smoke, but I don’t think you should smoke,” Dimon remarked during the interview.
Even so, his financial institution has grown closer to the crypto sector. In October 2025, JPMorgan announced that institutional clients could leverage Bitcoin as collateral for loans, with third-party custodians managing the actual coins.
Along similar lines, JPMorgan has engaged directly with the cryptocurrency ecosystem. The banking institution currently maintains a significant holding in Bitcoin ETFs, demonstrating corporate interest in digital assets. These investments in crypto exchange-traded funds imply that the company acknowledges the potential of digital currencies.
In July of the previous year, Donald Trump intimated that Jamie Dimon might have softened his historically harsh stance toward Bitcoin. Trump also briefly considered Dimon for the position of Treasury Secretary.
“Jamie Dimon was, you know, very negative and now all of a sudden he’s changed his tune a little bit,” Trump observed.
Nevertheless, Dimon’s most recent statements demonstrate that he continues to harbor skepticism toward Bitcoin, contradicting Trump’s assessment of a shifting attitude.
Dimon persists in opposing cryptocurrency companies that function like traditional banks. In May 2026, he stated that US banks intend to resist the CLARITY Act, a legislative proposal designed to establish regulatory frameworks for American crypto markets. His primary opposition centers on the rewards distributed to holders of stablecoins, which are digital tokens pegged to the dollar.
Brunell concluded the conversation by referencing a sentiment from MicroStrategy co-founder Michael Saylor, who noted that individuals universally oppose Bitcoin prior to supporting it.