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10.24%JPMorgan's Jamie Dimon Says U.S. Should Stockpile Missiles, Not Bitcoin
The CEO argued that the country needs to focus on essential resources like ammunition and rare earths.
What to know:
- JPMorgan CEO Jamie Dimon believes the U.S. should prioritize defense logistics over stockpiling bitcoin.
- Dimon warned that the U.S. is only equipped with missiles for seven days in a potential war in the South China Sea.
- Despite Dimon’s criticism of BTC, JPMorgan will soon allow clients to buy bitcoin.
JPMorgan CEO Jamie Dimon says the U.S. should prepare for war, not a bitcoin-driven future.
Speaking at the Reagan National Defense Forum in California on Friday, TheStreet reports, Dimon dismissed recent government moves to bolster a national digital asset reserve, arguing that real-world defense logistics, not blockchain assets, should take priority.
STORY CONTINUES BELOW
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“We shouldn’t be stockpiling bitcoins,” Dimon said. “We know what we need. It’s not a mystery.” He called for the prioritization of “guns, bullets, tanks, planes, drones, and rare earths.”
Earlier this year, U.S. President Donald Trump called for the establishment of a bitcoin reserve and digital assets stockpile. Dimon isn’t convinced about it.
“If there’s a war in the South China Sea, we’ve got missiles for seven days,” he warned. “That’s not something we should be saying with a straight face.”
Dimon, a well-known crypto critic, revealed earlier this month that JPMorgan will soon allow clients to buy bitcoin.
Francisco Rodrigues
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.
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