JPMorgan CEO Jamie Dimon says the U.S. should prepare for war, not a bitcoin-driven future.
Speaking at the Reagan National Defense Forum in California on Friday, TheStreet reports, Dimon dismissed recent government moves to bolster a national digital asset reserve, arguing that real-world defense logistics, not blockchain assets, should take priority.
“We shouldn’t be stockpiling bitcoins,” Dimon said. “We know what we need. It’s not a mystery.” He called for the prioritization of “guns, bullets, tanks, planes, drones, and rare earths.”
Earlier this year, U.S. President Donald Trump called for the establishment of a bitcoin reserve and digital assets stockpile. Dimon isn’t convinced about it.
“If there’s a war in the South China Sea, we’ve got missiles for seven days,” he warned. “That’s not something we should be saying with a straight face.”
Dimon, a well-known crypto critic, revealed earlier this month that JPMorgan will soon allow clients to buy bitcoin.