傑米·戴蒙（Jamie Dimon

摩根大通（JPMorgan Chase）首席執行官傑米·戴蒙（Jamie Dimon）宣布，該銀行將允許其客戶投資比特幣，同時重申他對加密貨幣的個人懷疑。

On May 19, 2025, at JPMorgan Chase’s Annual Investor Day, Jamie Dimon made a major business decision while maintaining his personal reservations. The CEO officially announced that the bank will now allow its clients to invest in bitcoin, but the institution will not directly custody it.

2025年5月19日，在摩根大通（JPMorgan Chase）的年度投資者日，傑米·戴蒙（Jamie Dimon）在維持自己的個人保留期間做出了重大的商業決定。首席執行官正式宣布，該銀行現在將允許其客戶投資比特幣，但該機構不會直接拘留它。

This announcement is part of a broader strategy to adapt to client demands, despite the executive’s personal skepticism, which is well-known.

儘管執行官的個人懷疑態度，這是適應客戶需求的更廣泛戰略的一部分，這是眾所周知的。

“I’m not a fan of Bitcoin,,“ Dimon declared bluntly during this presentation.

“我不是比特幣的粉絲，”戴蒙在本演講中直言不諱。

His skepticism is nothing new. In an interview with CBS News in January 2025, Dimon was even more critical.

他的懷疑並不是什麼新鮮事。在2025年1月對CBS新聞採訪時，戴蒙更為重要。

Bitcoin itself has no intrinsic value. It is widely used by sex traffickers, money launderers, and ransomware actors

比特幣本身沒有內在價值。它被性販子，洗錢者和勒索軟件演員廣泛使用

This critical position does not prevent the CEO from recognising his clients’ freedom of choice.

這個關鍵立場並不能阻止首席執行官認識到其客戶的選擇自由。

“I applaud your ability to want to buy or sell it. Just as I think you have the right to smoke, but I don’t think you should smoke,,“ he added, with a provocative comparison that perfectly illustrates his ambivalent position.

他補充說：“我為您想要買賣它的能力表示讚賞。就像我認為您有吸煙的權利一樣，但我認為您不應該吸煙。”

JPMorgan analysts more optimistic amid growing institutional adoption

摩根大通分析師在不斷增長的機構採用中更樂觀

Contrary to Jamie Dimon’s reservations, JPMorgan analysts are optimistic about bitcoin’s future. In their recent studies, they predict that crypto will continue to outperform gold during the second half of 2025, a phenomena fueled by the surging demand from institutions.

與傑米·戴蒙（Jamie Dimon）的保留相反，摩根大通（JPMorgan）分析師對比特幣的未來很樂觀。他們在最近的研究中預測，加密貨幣將在2025年下半年繼續勝過黃金，這是由於機構的需求激增所激發的。

“Between mid-February and mid-April, we saw that traders sold risk assets such as equities and bought government bonds and preferred fixed income over equities. And during the past three weeks, we are observing the opposite phenomena: bitcoin is gaining ground on gold.”

“在2月中旬至4月中旬之間，我們看到貿易商出售了股票和購買政府債券的風險資產，並優先考慮固定收益而不是股票。在過去的三周中，我們觀察到了相反的現象：比特幣在黃金上取得了基礎。”

The figures speak for themselves. Since April 22, gold has lost nearly 8% of its value, while bitcoin has seen an impressive 18% increase.

這些人物自言自語。自4月22日以來，黃金損失了近8％的價值，而比特幣則增加了18％。

This shift in investment strategy is occuring at the same time as several US states are integrating bitcoin into their strategic reserves. As reported by Cointribune, New Hampshire has authorized investing up to 5% of its treasury in bitcoin.

投資策略的這種轉變正在同時發生，因為美國幾個州正在將比特幣整合到其戰略儲備中。正如Cointribune報導的，新罕布什爾州已授權將多達5％的財政部投資於比特幣。

Arizona has also taken steps to create a bitcoin reserve fund and will be investing a portion of its treasury funds in BTC, according to a bill signed by Governor Doug Ducey. The legislation further enacts a tax revenue-neutral policy for the state.

根據州長道格·杜西（Doug Ducey）簽署的一項法案，亞利桑那州還採取了措施建立比特幣儲備基金，並將在BTC投資一部分財政部資金。該立法進一步製定了該州的稅收中立政策。

On the corporate side, companies like Strategy are continuously adding to their bitcoin holdings, while Metaplanet recently announced a significant investment in bitcoin.

在公司方面，像戰略這樣的公司不斷增加其比特幣持有量，而Metaplanet最近宣布對比特幣進行了巨大的投資。

According to JPMorgan analysts, this multiplication of institutional adopters acts as a “sustainable positive catalyst” for bitcoin. They anticipate that the competition between gold and bitcoin will continue until the end of the year, with a probable edge for crypto in the second half.

根據摩根大通分析師的說法，這種機構採用者的這種乘法是比特幣的“可持續積極催化劑”。他們預計，黃金和比特幣之間的競爭將持續到年底，下半場的加密貨幣可能會有優勢。

This evolution highlights the dilemma faced by traditional finance as it encounters the growing interest from institutions in bitcoin, which is gradually becoming an incontournable asset in the global financial landscape.

這種演變強調了傳統金融所面臨的困境，因為它遇到了比特幣的機構日益增長的興趣，而該機構逐漸成為全球金融景觀中不可感染的資產。