Bitcoin (BTC) Just Got a Surprising Nod – from Jamie Dimon of All People

That’s right, the CEO of JPMorgan, one of Bitcoin’s loudest critics over the years, now says his bank will allow clients to buy the cryptocurrency.

JPMorgan (NYSE:JPM) will now allow clients to buy Bitcoin, the bank's CEO Jamie Dimon said, finally giving in to client demand for the cryptocurrency.

"We serve clients, and they can get crypto products in various ways, both on the banking side and in the markets in equities, bonds, and digital assets," Dimon said at an American Bankers Association event on Monday.

Earlier this year, Morgan Stanley (NYSE:MS) and some other large banks started offering Bitcoin and other digital assets to wealthy clients.

JPMorgan, one of the largest banks in the U.S., couldn't really afford to stay out of the game any longer.

"So we do. We have a small part of that business. It's an important part of the business for our clients."

While still making disparaging remarks about crypto, Dimon said his firm offers clients access to Bitcoin. The move is symbolic as it signals that even the bank, which has been a vocal critic of crypto, is giving in to the asset class.

"If you're interested in crypto, you can go to a crypto bank or you can go to JPMorgan," he added.

Additionally, executives at Fidelity and JPMorgan said that Bitcoin could replace gold as the best-performing asset in the next bull market.

"I think in the next bull market, you'll see one asset class really outperform, and it'll carry the baton," Tom Braun, head of macro strategy at Ivy Ridge and former president of Fidelity's investment management arm, told the outlet.

"I think it'll be Bitcoin, and I think it'll be interesting to see if that's the case."

Bitcoin has shot up again, surpassing the $100K mark as the cryptocurrency continues to heat up.

At the same time, major ETFs are also climbing again, with the IV iBoxx High Yield v7.5 (DE000A2P8836) ETF now trading at over €186.

Meanwhile, whale activity is increasing again, with derivatives open interest nearly doubling since March.

While volatility may keep things choppy for a while, all signs point to something big on the horizon.