Jamie Dimon Questioned Bitcoin's 21 Million Cap Years Before BlackRock — Here's How Much You'd Have If You Invested $1,000 Into BTC When JPMorgan CEO Shared His Take

Benzinga01-08 20:00

The world’s largest asset manager, BlackRock, kicked up a storm last month after supposedly disputing Bitcoin's BTC/USD supply cap in one of its explainer videos. However, the thesis, which underpins ...

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Jamie Dimon, CEO of lending giant JPMorgan Chase & Co. JPM, has been one of the prominent skeptics.\nWhat happened: During the Institute of International Finance event in Oct. 2021, Dimon attacked the finite supply thesis that cryptocurrency proponents take immense pride in.\n“I'll just challenge the group to one other thing: how do you know it ends at 21 million? You all read the algorithms? You guys all believe that? I don't know, I've always been a skeptic of stuff like that,” Dimon said.\nBitcoin's hard cap is the maximum number of BTCs that can ever be created, set at 21 million. It's estimated that the very last BTC will be mined sometime in 2140.\nSee Also: Ethereum Co-Founder Vitalik Buterin Offloads Nearly A Million In Memecoins To Benefit Charities — Dogecoin’s Sister Coin NEIRO Plunges 3% After Sale\nWhen Dimon questioned Bitcoin’s fixed supply, one Bitcoin was priced at $57,484.79. So, if you set his doubts aside and invested $1000, you'd have received 0.0173 units of BTC.\nAs of this writing, one Bitcoin was exchanging hands at $96,545.43. This means that your 0.0173 BTC stash would have been worth $1679.49 today, reflecting a 67% return.\nFor context, one could buy more than six shares of JPMorgan using this amount. \nWhy It Matters: Dimon's skepticism of Bitcoin's supply cap has continued despite factual rebuttals, including those by Bitcoin technologist Jameson Lopp. \nIt’s worth noting that Bitcoin’s code makes no explicit reference to the hard cap. Rather, it is calculated by adding all coins that the code allows to be introduced into circulation throughout time.\nDespite such apprehensions, JPMorgan remains exposed to Bitcoin's price movements. As per the latest 13F filings, the bank held roughly $65,000 worth of Bitcoin exchange-traded fund shares, with sizable investments in iShares Bitcoin Trust ETF IBIT and Fidelity Wise Origin Bitcoin Fund FBTC.\nPrice Action: At the time of writing, Bitcoin was exchanging hands at $96,401.25, down 5.26% in the last 24 hours, according to data from Benzinga Pro.\nImage via Flickr\nRead Next: \n\nTrump’s Greenland Gambit: Kalshi Bettors See 21% Chance He’ll Seal The Deal Before This Date\n Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. 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