Strategy CEO Claims Jamie Dimon Privately Backs Bitcoin

Phong Le, the chief executive of Strategy, has claimed that JPMorgan's boss Jamie Dimon backs Bitcoin in private, even after years of criticising it in public. Le delivered the remark, only half in jest, during an interview on Natalie Brunell's Coin Stories podcast.

Strategy – previously known as MicroStrategy – is a US-based software company that has turned into the largest corporate holder of Bitcoin (BTC). It currently owns roughly 846,000 coins, representing about 4% of all Bitcoin that exists.

Why Phong Le Calls Jamie Dimon a Bitcoin Believer

When asked how Dimon might view MicroStrategy's ambition to become the 'JPMorgan of Bitcoin', Le chuckled and then replied.

“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 said.

Le stated that he has no desire to turn MicroStrategy into a bank. Rather, he envisions it as a central player in Bitcoin-driven finance, creating and marketing investment products in a fashion similar to JPMorgan's Wall Street operations.

He also challenged the notion that Bitcoin will supplant banks. According to him, it will enhance the existing system, and the US dollar will remain. Le further remarked that Bitcoin and AI are the two most significant technologies of the current century.

What Jamie Dimon Has Said About Bitcoin

Dimon's public statements tell a different story. In 2024, he described Bitcoin as a 'pet rock' that serves no purpose.

"There are cryptocurrencies that do something, that might have value. And then there's one that does nothing, I call it pet rock. The #Bitcoin, or something like that," says @JPMorgan CEO Jamie Dimon. "It has some use cases. Everything else is people trading among themselves."

— Squawk Box (@SquawkCNBC) January 17, 2024

In January 2025, he likened purchasing Bitcoin to smoking, stating that people have the right to do it but should not.

“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 said in the interview.

Nonetheless, Dimon's bank has edged closer to the cryptocurrency space. In October 2025, JPMorgan announced that institutional customers could use Bitcoin as loan collateral, with the coins held by third-party custodians.

Similarly, JPMorgan has engaged with the cryptocurrency arena. The financial institution now holds a sizable stake in Bitcoin ETFs, indicating its interest in digital assets. These ETF investments imply that the bank acknowledges the promise of digital assets.

BREAKING: JPMorgan bought $400M of iShares Bitcoin ETF in Q2

iShares IBIT position jumped to 17.8M shares, now worth $650M

— Bitcoin Archive (@BitcoinArchive) August 12, 2026

In July of the previous year, Donald Trump indicated that Jamie Dimon had moderated his previously tough position on Bitcoin. Trump also briefly backed Dimon for the role 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 said.

But Dimon's latest remarks suggest he still holds a critical view of Bitcoin, notwithstanding Trump's claim that his stance had shifted.

Dimon continues to oppose crypto companies that operate like banks. In May 2026, he stated that US banks would challenge the CLARITY Act, a piece of legislation establishing regulations for US crypto markets. His opposition focuses on the rewards given to holders of stablecoins, digital tokens tied to the dollar.

Brunell concluded the discussion by referencing MicroStrategy co-founder Michael Saylor's idea that everyone opposes Bitcoin before they eventually support it.

Everyone is against Bitcoin before they are for Bitcoin.

— Michael Saylor (@saylor) August 11, 2026