Eric Trump takes shot at JPMorgan rethinking bitcoin after 'crapping' on asset
The U.S. president's son, who co-founded American Bitcoin, said there's been a turnaround from traditional institutional firms now embracing bitcoin.
AI Summary
Eric Trump, co-founder of American Bitcoin and son of President Donald Trump, stated that major financial institutions like JPMorgan Chase have reversed their stance on bitcoin after initially dismissing it. He highlighted that JPMorgan, which criticized bitcoin 18 months ago, now allows customers to take mortgages against their bitcoin holdings, exemplifying how traditional banks have capitulated to the crypto industry's growth. Trump argued that financial institutions have realized they cannot resist the crypto movement and are now embracing it rather than opposing it.