American Bitcoin Corp. (NASDAQ:ABTC) co-founder Eric Trump on Wednesday pointed to JPMorgan Chase & Co.’s (NYSE:JPM) shift in stance on Bitcoin (CRYPTO: BTC) as a major win for the cryptocurrency sector over traditional banking powerhouses.
Trump Says Crypto ‘Won The Race’
At CoinDesk’s Consensus event in Miami, Trump stated that JPMorgan went from calling Bitcoin a “joke asset” to allowing institutional clients to use it as collateral for loans in just 18 months.
“It’s all gonna become digitized, and the banks have fought like hell. They kept that from happening, and we broke the banks,” he added. “We’ve won this race.”
Trump said that institutional cryptocurrency adoption is just getting started, and the speed of growth over the next couple of years would be “monumental.”
JPMorgan didn’t immediately return Benzinga’s request for comment.
