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Eric Trump took the stage at Consensus Miami 2026 on Wednesday and criticized JPMorgan for reversing its stance on bitcoin, arguing that the bank’s position shifted from public hostility to offering mortgage products backed by bitcoin holdings in less than two years.
Trump, co-founder and chief strategy officer of American Bitcoin, framed the change as a concession by the banking establishment. He said JPMorgan had previously dismissed bitcoin and later moved to allow customers to use bitcoin holdings to obtain home mortgages through the bank.
“JPMorgan, who was crapping all over bitcoin 18 months ago, saying it was a joke asset,” Trump told the Consensus crowd. “It’s really interesting — now they’re allowing people to take down home mortgages against their bitcoin holdings at JPMorgan, this happened in a period of 18 months, my friends.”
He added that the broader financial industry has been forced to adjust its approach. “The financial institutions all realize that they’ve lost and they can no longer push back,” Trump said. “And so instead of actually fighting against the tide, you know what they’re doing, they’re swimming with it for the first time.”
Trump also referenced JPMorgan CEO Jamie Dimon’s long-running criticism of bitcoin, describing it as a fraud and a speculative asset at multiple points over the past decade.
Since then, JPMorgan has expanded its crypto-related efforts, including building out its Kinexys blockchain platform. The article states that Kinexys has processed more than $1 trillion in transactions. JPMorgan is also sponsoring Consensus Miami 2026 for the first time.
As described in the source material, JPMorgan is now embedded across crypto infrastructure, including serving as a key institutional partner for Chainlink.
Trump further pointed to his family’s experience with being “debanked,” saying it influenced his push for bitcoin’s “censorship-resistant rails.” He also noted that American Bitcoin holds all mined coins without selling.
For Trump, JPMorgan’s shift from critic to mortgage provider within 18 months is presented as evidence that institutional resistance to bitcoin has ended.
