Resistance Is Futile

From crypto critic to convert, it’s becoming a cliché.

Case in point:

America’s top banker boss, Jamie Dimon, is being considered for Secretary of the Treasury in a second Trump administration.

This comes on the heels of Dimon breaking ranks, cozying up to Trump:

“Take a step back, be honest. He was kind of right about NATO, kind of right on immigration. He grew the economy quite well. Trade tax reform worked. He was right about some of China. He wasn't wrong about some of these critical issues.”

There’s just one problem.

Dimon is one of Bitcoin’s most outspoken critics.

Here’s some of his best hits over the years:

• "It's worse than tulip bulbs. It won’t end well.”

• “It’s just not a real thing, eventually it will be closed.”

• "It’s a terrible store of value, it can be replicated over and over. It doesn’t have the standing of a government."

• "I've always been deeply opposed to crypto, Bitcoin, et cetera…The true use case for it is criminals, drug traffickers, anti-money laundering, tax avoidance…”

• “I’d fire them in a second,” Bloomberg reported Dimon saying of any JPMorgan trader trading Bitcoin “For two reasons: It’s against our rules, and they’re stupid. And both are dangerous.”

Why is this a problem?

Because Trump just flipped bullish on Bitcoin:

“If I throw it aside, another country, most likely China, will pick it up—they’re pretty advanced in that sphere. It’s a baby, an infant right now. But I don’t want to be responsible for allowing another country to take over this sphere.”

You’re watching game theory in action.

Hate it all you want, throw a hissy fit, cry and stomp your feet, Bitcoin doesn’t care.

It’s superior money and it’s getting adopted, one way or another.

Cue Dimon’s convenient rehabilitation:

The dominoes are falling quickly now.

Reality check - we’re at a point where being anti-Bitcoin is disqualifying for the nation’s top jobs. Oh, how the career risk has flipped.

Because guess who else is under consideration for the Treasury Secretary position?

That’s right, it’s BlackRock’s head honcho, Larry Fink, who also happens to be Bitcoin’s biggest cheerleader and most notable recent convert.

He went from trashing Bitcoin as an “index of money laundering” just a few years ago to now sitting on top of $20 billion worth of the stuff through his IBIT fund.

Yes, the fastest growing ETF in history will do wonders.

As the game theory accelerates and the orthodoxy continues crumbling, expect many more high profile apostates to bend the knee.

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