JPMorgan Chase CEO Jamie Dimon, previously a vocal skeptic of cryptocurrency, has announced that the bank will allow its clients to buy Bitcoin, although it will not hold custody of the digital asset.

Dimon has compared Bitcoin to a “pet rock” in the past and expressed concerns about risks such as money laundering, yet he supports individual choice in purchasing Bitcoin.

This move aligns JPMorgan with rivals like Morgan Stanley, which has offered Bitcoin ETFs to clients since 2024.

Despite his skepticism, Dimon stated, “I defend your right to buy bitcoin,” signaling a nuanced approach toward client access to cryptocurrencies.