From Jamie Dimon to Donald Trump: Why everyone eventually understands Bitcoin
John: Hey everyone, I’m John, a veteran writer for our crypto blog where we break down Web3, virtual currencies, and blockchain in simple terms. Today, we’re diving into how even big-name skeptics like Jamie Dimon and Donald Trump have come around to understanding Bitcoin’s value, based on the original CryptoSlate article and fresh updates from trusted sources.
Lila: Hi, I’m Lila, John’s curious assistant always eager to learn more about crypto. John, for beginners like me, why do high-profile folks eventually warm up to Bitcoin? It seems like magic internet money!
The Basics of Bitcoin
John: Great question, Lila. Bitcoin is the first decentralized digital currency, created by Satoshi Nakamoto back on 2009-01-03. It operates on a blockchain, which is like a public ledger that records all transactions securely without needing banks.
Lila: Blockchain sounds technical. What’s a simple way to think about it?
John: Think of blockchain as a chain of digital notebooks where each page is a block of transactions. Once written, it can’t be erased, ensuring transparency and security. As of now in 2025, Bitcoin’s scarcity—capped at 21 million coins—makes it durable and predictable, much like digital gold.
High-Profile Skeptics and Their Shifts
Lila: So, who are these skeptics, and what changed their minds?
John: In the past, Jamie Dimon, CEO of JPMorgan Chase, called Bitcoin a fraud around 2017-09-12. But by 2024-03-13, he defended investors’ right to buy it, according to DL News. Donald Trump was critical too, tweeting against crypto in 2019, but shifted gears by 2024-07-18, even considering Dimon for Treasury while noting his softened stance on Bitcoin, as reported by CryptoSlate.
Lila: That’s a big turnaround! Any humor in how quickly opinions change?
John: Ha, it’s like hating pineapple on pizza until you try it—sudden converts everywhere. Seriously though, Trump’s positive comments came amid Bitcoin ETFs going mainstream, helping critics see its potential.
Recent Developments in 2025
John: Looking at updates as of 2025-09-08, Trump signed an Executive Order on 2025-03-07 to establish a Strategic Bitcoin Reserve, per the White House fact sheet. This includes a U.S. digital asset stockpile, signaling government-level adoption.
Lila: Wow, a national Bitcoin reserve? What does that mean for everyday people?
John: It positions Bitcoin as a strategic asset, like oil reserves, potentially stabilizing its value. Additionally, a Washington Post analysis from 2025-07-17 found over 1 in 5 top Trump appointees held crypto investments, far more than in previous administrations.
Lila: And what about the Trump family’s involvement?
John: Recent news from Investopedia on 2025-09-04 shows Eric Trump and Donald Trump Jr. linked to American Bitcoin, a mining company that listed on Nasdaq under ABTC. Sources like AInvest also note Trump’s backing of a $1M Bitcoin price future as of three weeks ago in 2025-08.
Why Bitcoin Wins People Over
John: Bitcoin’s appeal lies in its scarcity, durability, and predictability. Unlike fiat money printed endlessly, Bitcoin’s fixed supply mimics gold’s rarity. High-profile figures understand this once they see its resilience through market cycles.
Lila: Can you give examples of its use cases?
John: Sure! Here’s a quick list of practical applications:
- Store of value: People hold Bitcoin like digital gold to hedge against inflation.
- Payments: Companies like Tesla accepted it in 2021, though paused later.
- Remittances: Sending money across borders quickly and cheaply, bypassing high fees.
- Institutional investment: ETFs approved on 2024-01-10 by the SEC opened doors for big money.
John: These factors helped Dimon shift; in a 2025-01-12 Brave New Coin interview, he discussed Bitcoin alongside America’s wealth divide, showing a nuanced view.
Risks and Safeguards
Lila: Sounds promising, but aren’t there risks? I don’t want to lose my shirt!
John: Absolutely, volatility is key—Bitcoin dropped over 70% in 2022 but rebounded. Regulatory risks exist, like potential crackdowns, but safeguards include using reputable exchanges and hardware wallets. Remember, as of 2025, U.S. frameworks are evolving under pro-crypto influences.
Lila: How do beginners stay safe?
John: Start small, educate yourself via sources like CoinDesk, and never invest more than you can afford to lose. No financial advice here, just friendly pointers.
Looking Ahead
John: In the future, with Trump’s crypto-friendly policies, we might see more integration. Analysts from Reuters on 2025-03-03 suggest clearer regulations could boost prices, including assets like XRP and Solana in reserves.
Lila: Exciting! Any predictions without speculating?
John: Based on trends, institutional adoption will likely grow. For instance, Metaplanet’s strategic Bitcoin position, noted in AInvest a week ago in 2025-09, shows momentum building globally.
John: Wrapping up, it’s fascinating how Bitcoin turns skeptics into believers through its core strengths. Whether you’re a beginner or seasoned, staying informed from trusted sources is key. Thanks for joining us—keep exploring the crypto world safely!
Lila: My takeaway: Bitcoin’s not just hype; it’s got real staying power. Can’t wait to learn more next time!
This article was created using the original article below and verified real-time sources:
- From Jamie Dimon to Donald Trump: Why everyone eventually understands Bitcoin
- Fact Sheet: President Donald J. Trump Establishes the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile
- Over 1 in 5 high-level Trump picks held crypto, Post analysis finds
- The Trumps Are Leaning Further Into Crypto. Two New Listings Show Just How Far.