Jamie Dimon says U.S. should stockpile bullets and tanks, not Bitcoin originally appeared on TheStreet .

JPMorgan Chase CEO Jamie Dimon said Friday that the United States should be investing in military supplies — not Bitcoin — to protect its national security.

Ironically, on May 19, Jamie Dimon told investors that JPMorgan will now allow clients to buy Bitcoin. He clarified the bank won’t custody BTC and reiterated, “I am not a fan.” The shift comes despite Dimon's long history of criticizing crypto, calling it “fraud” and fit only for “criminals.”

Speaking at the Reagan National Economic Forum in Simi Valley, California, Dimon argued that the country needs to prioritize essentials like “guns, bullets, tanks, planes, drones, and rare earths,” rather than piling into digital assets. “We shouldn’t be stockpiling bitcoins,” he said. “We know what we need. It’s not a mystery.”

His comments come months after President Trump signed an executive order to establish a U.S. Bitcoin reserve. But Dimon clearly sees the real risk elsewhere.

Earlier in 2025, President Trump announced the creation of a national digital asset reserve, backing Bitcoin, XRP, Solana (SOL), and Cardano (ADA).

“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. We need to act — not just talk.”

While some of the panel’s discussion focused on rising global tensions and economic policy, Dimon emphasized that America’s biggest threat isn’t China, but dysfunction at home.

“China’s got its problems,” he said. “What I’m more concerned about is us — our values, our capability, our management. That’s the real enemy within.”

The banking titan criticized the U.S. government’s inability to execute effectively, calling it a “Leviathan” that imposes burdens while failing to deliver. He called for reforms in education, healthcare, immigration, and tax policy — and a return to foundational American values.

“We need to celebrate free speech, enterprise, family, and faith,” Dimon said. “And yes, we have to acknowledge our flaws — but that doesn’t mean we diminish what makes this country great.”

As per Kraken’s price feeds , Bitcoin was down 1.6% in the past 24 hours, trading at $104,621 at press time.

Jamie Dimon says U.S. should stockpile bullets and tanks, not Bitcoin first appeared on TheStreet on May 30, 2025

This story was originally reported by TheStreet on May 30, 2025, where it first appeared.