Long seen as a speculative fad with no future, Bitcoin has managed to convince some of Wall Street’s biggest investors. While some, like Warren Buffett, remain skeptical, others have radically changed their minds. Here’s how five major financial figures have evolved in response to Bitcoin’s rise.
Jamie Dimon (JP Morgan): From “fraud” to gradual adoption
Jamie Dimon, CEO of JP Morgan, was one of Bitcoin’s harshest critics. In 2017, he called the cryptocurrency a “fraud” and threatened to fire any bank employee caught trading it.
A strategic turnaround
Despite his statements, JP Morgan has gradually integrated Bitcoin into its offerings. The bank now provides crypto trading services to its wealthy clients and has even launched its own cryptocurrency, the JPM Coin.
Larry Fink (BlackRock): From skeptic to Bitcoin ETF leader
BlackRock CEO Larry Fink was long wary of Bitcoin, believing it was mainly used for illegal activities.
A major shift
In 2023, BlackRock launched its Bitcoin ETF, marking a massive wave of institutional adoption. Fink now describes Bitcoin as an “international asset” and a diversification tool.
Ken Griffin (Citadel): From staunch opponent to investor
Ken Griffin, founder of Citadel, long rejected Bitcoin, claiming it “slowed down financial innovation.”
A new approach
In 2024, Citadel invested in several crypto infrastructures and now facilitates Bitcoin trading on some of its platforms.
Warren Buffett (Berkshire Hathaway): Still a major skeptic
The legendary investor Warren Buffett has never hidden his disdain for Bitcoin, calling it “rat poison.”
An unchanged stance
Unlike others, Buffett has not changed his view and continues to favor traditional assets.
Ray Dalio (Bridgewater Associates): A measured acknowledgment
Ray Dalio, founder of Bridgewater Associates, initially saw Bitcoin as a speculative bubble.
An alternative to gold
Over time, he has acknowledged Bitcoin as a potential store of value and a diversification tool amid economic uncertainty.
Conclusion: A turning point for Wall Street
While Bitcoin still divides opinion, its adoption by major financial players shows that it has become a key market force. The question is no longer whether it will survive, but how it will integrate sustainably into the global economy.