JPMorgan Chase CEO Jamie Dimon reaffirmed his personal disapproval of Bitcoin, despite announcing that the bank will allow clients to purchase Bitcoin, though it will not custody the digital asset.

Dimon compared buying Bitcoin to smoking—acknowledging clients’ rights to invest while expressing skepticism about Bitcoin’s intrinsic value and its use in illicit activities.

Contrary to Dimon’s stance, JPMorgan analysts have shown optimism about Bitcoin’s prospects, predicting it will outperform gold in the latter half of 2025 due to increased corporate demand, state-level support, and a shift in investor sentiment.

States like New Hampshire and Arizona are integrating Bitcoin into their reserves, and companies are expanding their holdings, signaling growing institutional acceptance of the cryptocurrency.