In 2022, JPMorgan Chase CEO Jamie Dimon called cryptocurrency “decentralized Ponzi schemes” at a U.S. House Financial Services Committee hearing. “I’m a major skeptic on crypto tokens, which you call currency, like Bitcoin,” he said at the time.

But on Monday at JPMorgan’s annual investor day, Dimon said that JPMorgan Chase, the U.S.’s largest bank, will allow its clients to buy Bitcoin, per CNBC.

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“We are going to allow you to buy it,” Dimon said. “We’re not going to custody it. We’re going to put it in statements for clients.”

^{JPMorgan Chase CEO Jamie Dimon delivers a speech during the Global Markets Conference, ahead of the Choose France summit, in Paris, on May 15, 2025. MICHEL EULER/POOL/AFP | Getty}

Rival Morgan Stanley has allowed clients to buy bitcoin ETFs since August 2024.

Dimon has long cited the risks of bitcoin, including money laundering. At Davos last year, he called it a “pet rock” that “does nothing.”

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But that doesn’t mean he is going to hold other people back from making their own financial choices.

“I don’t think you should smoke, but I defend your right to smoke,” Dimon said. “I defend your right to buy bitcoin.”