'He Still Knows It’s Ponzi': Peter Schiff Clarifies JP Morgan CEO’s Bitcoin Stance
Analysis
Price Impact
LowPeter schiff's clarification debunks a misinterpretation that jp morgan ceo jamie dimon is changing his stance on bitcoin. this prevents a false bullish narrative from taking hold, but doesn't introduce new negative sentiment as dimon's skepticism is well-known.
Trustworthiness
HighPeter schiff, a long-time bitcoin critic, accurately clarifies jamie dimon's consistent stance, distinguishing between praise for blockchain technology and actual support for bitcoin, which aligns with dimon's historical comments.
Price Direction
NeutralThe news primarily serves to correct a misperception. since dimon's critical view of bitcoin has been consistent, this clarification merely reinforces the status quo rather than introducing new bullish or bearish catalysts.
Time Effect
ShortAny potential mini-rally based on the initial misinterpretation would be quickly corrected as the market processes the clarification. it's not a fundamental change in policy or adoption, but a sentiment check.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News Biggest Bitcoin critic Peter Schiff is not having it after a viral X post recently celebrated Jamie Dimon’s blockchain speech at a live TV session with Fox Business. Advertisement While the post had speculated that the JP Morgan CEO, who has been a longtime Bitcoin critic, is finally changing his stance and embracing the blockchain technology, Peter Schiff issued an unfriendly response clarifying that the JPMorgan CEO’s stance on Bitcoin itself has not changed. Dimon praises blockchain technology During the live session, Dimon described the blockchain technology as real, faster, and cheaper, acknowledging that JPMorgan has been moving trillions of dollars a day on blockchain. HOT Stories BREAKING: Ripple Scores Big National Bank Win Morning Crypto Report: Bitcoin Mogul Saylor Taps JP Morgan, Satoshi Disappeared Exactly 15 Years Ago, Shiba Inu (SHIB) Denies 'Meme Coins Are Dead' Claim Ripple CTO Reacts to Solana's XRP Integration Crypto Market Prediction: Is Shiba Inu (SHIB) Dream Rally Ending? Ethereum Brutally Denied After Fakeout, Bitcoin (BTC) Not Giving up $100,000 Thus, the post had interpreted Dimon’s praises on blockchain as a major reversal after years of Dimon calling Bitcoin a fraud. Advertisement Furthermore, the post highlighted JPMorgan’s growing blockchain initiatives, including its stablecoin on Base, real-world asset tokenization, and on-chain settlement experiments. Nonetheless, Schiff cleared that the excitement is misplaced and borne out of an extreme misconception, reasserting that the public figure has not changed his view about Bitcoin . You Might Also Like Fri, 12/12/2025 - 13:49 Biggest Bitcoin Critic Says QE Will Not Save Bitcoin as Gold and Silver Take Lead By Gamza Khanzadaev Advertisement In his response, Schiff explained that Dimon’s comments were strictly about blockchain technology and stablecoins and not Bitcoin, drawing the line between the enterprise use cases of blockchain and Bitcoin’s monetary infrastructure. Notably, Schiff argued that interpreting Dimon’s remarks as a bullish stance for Bitcoin is misleading. According to Schiff, he strongly believes that the JPMorgan CEO still knows Bitcoin as a Ponzi, and his long-standing criticism of Bitcoin has not changed. Thus, Peter Schiff has strictly cleared that institutional blockchain adoption does not mean support for Bitcoin. #Bitcoin #JP Morgan News #Jamie Dimon #Peter Schiff