As the years passed, JPMorgan said this about Bitcoin: 2014: “It’s a terrible store of value. It can be replicated over and over again.” 2015: “No government will support a cross-border virtual currency.” 2017: “Bitcoin is a fraud.” 2017: “If I had a trader trading Bitcoin, I’d fire him in a second… because it’s stupid.” 2018: It regretted calling it a “fraud,” but remained highly critical. 2021: “Personally, I believe Bitcoin has no value.” 2022: “They are decentralized Ponzi schemes.” 2023: “If I were the government, I’d shut it down.” / “It’s a hyped-up fraud.” 2024: “I call it a pet rock. It does nothing.” 2024: “This is the last time I’ll talk about this with CNBC—God help me.” 2025: “Bitcoin has no intrinsic value. It’s used for sex trafficking, money laundering, and ransomware.” 2025: He compared it to smoking: “You have the right to buy it, but I don’t think you should.” JPMorgan (2026): We have included #Bitcoin in our portfolio, as we view it as THE BEST LONG-TERM ASSET, outperforming stocks, bonds, and gold over the next 10 to 15 years. Everyone buys Bitcoin at the price it deserves.