Eric Trump mocked JPMorgan at Consensus Miami 2026 for reversing its bitcoin stance within 18 months, saying banks have accepted they can no longer hold back the tide.
Summary
- Eric Trump told Consensus Miami that JPMorgan dismissed bitcoin as a “joke asset” 18 months ago and is now allowing clients to take out mortgages against it.
- Trump said traditional financial institutions have “lost” the fight against crypto and are now joining the current rather than fighting it.
- JPMorgan CEO Jamie Dimon was a longtime critic of bitcoin before his bank built out its Kinexys blockchain platform and sponsored Consensus Miami 2026.
Eric Trump took the stage at Consensus Miami 2026 on Wednesday and attacked JPMorgan over its reversal on bitcoin, framing a timeline that moved from public hostility to mortgage products in under two years. Trump, co-founder and chief strategy officer of American Bitcoin, cast the shift as a concession by the banking establishment.
“JPMorgan, who was crapping all over bitcoin 18 months ago, saying it was a joke asset,” Trump told the Consensus crowd. “It’s really interesting — now they’re allowing people to take down home mortgages against their bitcoin holdings at JPMorgan, this happened in a period of 18 months, my friends.”
Trump argued the broader financial industry has been forced to capitulate. “The financial institutions all realize that they’ve lost and they can no longer push back,” he said. “And so instead of actually fighting against the tide, you know what they’re doing, they’re swimming with it for the first time.”
JPMorgan CEO Jamie Dimon described bitcoin as a fraud and a speculative asset at multiple points over the past decade. The bank has since pivoted, building out its Kinexys blockchain platform, which has processed more than $1 trillion in transactions, and sponsoring Consensus Miami 2026 for the first time. As crypto.news documented, JPMorgan is now embedded across crypto infrastructure, including as a key institutional partner for Chainlink.
Trump also referenced his family’s history of being debanked, calling it the experience that pushed him toward advocating for bitcoin’s censorship-resistant rails. American Bitcoin holds all mined coins without selling. For Trump, JPMorgan’s shift from critic to mortgage provider in 18 months is the clearest evidence yet that institutional resistance to bitcoin is over.
