Former US President Donald Trump has revealed that JPMorgan CEO Jamie Dimon, a known skeptic of bitcoin and cryptocurrencies, has apparently “changed his tune,” with the potential to win the role of Treasury Secretary in the scenario where the former president wins the Oval Office seat again.
Trump's comments come as Treasury Secretary Janet Yellen has expressed concerns about the future of the US dollar, signaling a changing landscape for the cryptocurrency industry and the role it can play in the US economy.
Dimon's stance on cryptocurrencies evolves in meeting with Donald Trump
bitcoin-and-crypto-flip-amid-huge-price-surge/” target=”_blank” rel=”noopener nofollow”>According In a private meeting with Dimon and 80 other business executives, including chief executives of Citigroup, Bank of America and Apple, Trump described Forbes as a “love party.”
Dimon, who has previously criticized bitcoin, calling it a “fraud” and a “Ponzi scheme,” has remained steadfast in his skepticism despite Wall Street’s growing interest in the technology. He has even referred to bitcoin as a “waste of time” and a “pet rock” with no inherent value.
However, Trump's openness to considering Dimon for the post of US Treasury Secretary if he returns to the White House in November highlights Trump and Dimon's shifting attitudes toward cryptocurrencies and their technology, and the potential benefits the industry can have on the nation's finances.
'crypto President'
Donald Trump’s growing involvement in the cryptocurrency space has allowed him to meet industry leaders and influencers, leading him to express his admiration for the people involved. Trump is also scheduled to be a keynote speaker at Bailey’s upcoming bitcoin 2024 conference in Nashville.
During a fundraiser in Silicon Valley, Trump declared himself the “president of crypto” and hinted that he would launch another collection of non-fungible tokens (nfts) following the success of his mugshot nfts.
Trump has also called for cryptocurrency companies to establish a presence in the United States rather than in China or other countries. Donald Trump has made it clear that he believes keeping bitcoin mining and development in the United States will contribute to the country's energy dominance.
At the time of writing, bitcoin is trading at $64,640.
Featured image from Business Insider, chart from TradingView.com
