Saylor has a mysterious response to JPMorgan

Core Insights - JPMorgan Chase & Co. is allowing institutional clients to use Bitcoin and Ether as collateral for loans by the end of the year, marking a significant shift in its stance on cryptocurrency [1][3] - This change comes despite CEO Jamie Dimon's previous negative comments about Bitcoin, including calling it a "fraud" and expressing a desire to fire employees trading it [3][4] - The move reflects a broader trend of increasing institutional demand for cryptocurrencies and easing U.S. regulations [3] Company Perspective - Jamie Dimon has acknowledged his past skepticism about Bitcoin, stating he regrets calling it a fraud and recognizing the legitimacy of blockchain technology [4] - Many investors view JPMorgan's new policy as a full-circle moment, highlighting the bank's transformation from dismissing Bitcoin to accepting it as collateral [5] Industry Commentary - Michael Saylor, co-founder of MicroStrategy, criticized JPMorgan's change of heart, emphasizing the importance of self-custody in Bitcoin ownership and encouraging investors to act independently of traditional banks [2][6] - Saylor's long-term belief is that Bitcoin will be recognized as a store of value globally, reinforcing the notion of financial independence from legacy financial institutions [7]