In 2017, JPMorgan CEO Jamie Dimon made headlines by labeling Bitcoin a “fraud,” comparing it to the 17th-century Dutch tulip bubble. He criticized its volatility and potential for money laundering, even declaring he’d fire any employee trading Bitcoin. At the time, Bitcoin traded around $4,000, but despite Dimon’s skepticism, the cryptocurrency continued to rise in prominence.
Fast forward, and Bitcoin has evolved into a more mainstream asset, with even JPMorgan offering cryptocurrency-related services. This shift highlights how a once-fringe digital currency gradually gained acceptance in traditional finance.