Why JPMorgan Chase’s CEO Accepting Bitcoin Is Significant
Time3 days
Bitcoin Hits Record $111,000 Amid US Regulatory Progress
Above: Bitcoin cryptocurrency cryptomonnaie coin covered with fake blood placed on a desk in Clermont-Ferrand France on May 16 2025. Image copyright: Romain Costaseca/AFP via Getty Images
The Spin
Cynical narrative
Bitcoin's meteoric rise represents history's greatest financial bubble — a speculative fever dream built on nothing but faith and hype. Unlike productive assets that generate real value, Bitcoin remains worthless digital vapor, transforming legitimate financial institutions into gambling facilitators while threatening pension funds and retirement savings with inevitable catastrophic collapse.
Optimist narrative
Bitcoin skeptics must swallow their pride and acknowledge that they were spectacularly wrong. Surging past $100,000, Bitcoin has proven its revolutionary disruption of finance, attracting institutional billions and government adoption. While traditionalists cling to outdated paradigms, Bitcoin delivers consistent upward momentum, validating early believers who saw its utility beyond mere speculation.