Former President Donald Trump, currently seeking the Republican nomination for the 2024 presidential election, has indicated a notable change in his stance on cryptocurrency.
In a recent interview with Bloomberg, Trump mentioned that he is contemplating appointing Jamie Dimon, the CEO and Chairman of JP Morgan, as his Secretary of the Treasury.
This potential appointment is significant given Dimon's past criticisms of Bitcoin and cryptocurrencies.
Trump pointed out Dimon's shifting perspective on Bitcoin.
In 2017, Dimon famously labeled Bitcoin a "fraud" and threatened to fire any JP Morgan employee trading it.
However, more recently, Dimon has become more open-minded.
By March this year, Dimon acknowledged individuals' rights to buy and hold Bitcoin.
Trump, who recently survived a near-death assassination attempt, noted that Dimon had changed his stance on Bitcoin.
"I’ve gotten to know people in the industry; they’re top-flight people. And you ask Jamie Dimon, he was very negative and now all of a sudden he’s changed his tune a little bit,"' he stated.
Jamie Dimon on CNBC | YT
Trump's remarks come as he aims to position the U.S. as a leader in the cryptocurrency sector.
He stressed the need to stay competitive in this rapidly changing field.
When asked about considering Dimon for the Treasury role, Trump confirmed, "He is somebody that I would consider, sure."
Dimon and Trump's Past Interactions
This is not the first time Dimon has been considered for a significant position in the Trump administration.
In 2016, during Trump's transition team discussions, Dimon was offered the Treasury position but declined.
In December 2023, reports suggested Dimon was again under consideration, showing Trump's regard for Dimon's financial expertise.
Despite his past criticisms of Bitcoin, Dimon has consistently supported blockchain technology.
In a 2022 letter to JP Morgan shareholders, he praised decentralized finance (DeFi) and blockchain as "real, new technologies."
JP Morgan has also led blockchain innovation, developing products like the Liink network and JPM Coin.
Political Landscape: Trump vs. Biden Polls Faces Big Changes
Trump's campaigns for the presidency against President Joe Biden lately took a major turn.
President Joe Biden, whose recent debate performance has caused concern among Democrats, stepped down from the presidential race just yesterday.
According to Biden, he's decision was made in the best interests of his party.
My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term. My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best… pic.twitter.com/x8DnvuImJV
— Joe Biden (@JoeBiden) July 21, 2024
In an expected move, the US president has endorsed Vice President Kamala Harris to step in as the Democratic nominee for the presidency.
Before this, polling data shows a close race between Trump and Biden.
A recent CBS News survey indicates Trump leads Biden by 52% to 47% among likely voters, a significant shift from earlier polls.
While Biden has stronger support in battleground states, Trump's backing appears to be growing.
Nancy Pelosi, the former House Speaker, reportedly conveyed to Biden that their internal polling indicates he could face challenges in defeating Trump.
However, Biden previously brushed off these worries, claiming that he had seen polls suggesting that he could emerge victorious.
Nonetheless, this conversation underscored the mounting pressure on Biden as he assessed his chances for re-election, ultimately leading to his withdrawal from the race.