At the inaugural Reagan National Economic Forum in Simi Valley, California, held on May 31, 2025, JPMorgan Chase CEO Jamie Dimon issued a strong call for the United States to redirect its focus from cryptocurrencies to critical defense assets. In a high-profile appearance that drew national attention, Dimon warned that digital currencies like Bitcoin offer little security value in a world marked by geopolitical volatility and emerging threats.
The event, hosted at the Ronald Reagan Presidential Library, brought together political leaders, economic strategists, and business magnates to address America’s readiness in an increasingly unstable global environment. Dimon’s address stood out for its direct tone and urgent message to policymakers.
Bitcoin vs. Bullets: A National Security Concern
Dimon’s comments came on the heels of President Donald Trump’s controversial executive order to establish a national “Bitcoin reserve”—described by some officials as a digital-age Fort Knox. The order aims to position the U.S. as a crypto leader, safeguarding against inflation and enhancing fiscal independence.
However, Dimon offered a starkly contrasting viewpoint, arguing that such speculative investments do little to protect national sovereignty or strengthen military capabilities.
“We need to be practical and focus on what truly strengthens our nation,” Dimon told forum attendees. “Investing in tangible defense assets is more critical than speculative digital currencies.”
He emphasized that, in the event of a large-scale conflict—such as a hypothetical confrontation in the South China Sea—the U.S. may only have sufficient missile reserves to last a week. This, he said, is a grave strategic vulnerability that must be addressed with urgency.
Stockpiling Strategic Materials
In his address, Dimon called for increased federal investment in stockpiling essential materials such as bullets, drones, and rare earth elements. These components are indispensable for manufacturing advanced defense technologies, yet many are currently imported from geopolitical rivals, including China.
Dimon argued that securing domestic reserves of these assets should take precedence over building a digital currency portfolio. He warned that over-reliance on foreign suppliers could leave the U.S. exposed in a crisis, not only militarily but also economically.
“The strength of a nation lies in its ability to defend its people, maintain supply chains, and respond swiftly to threats,” Dimon said. “Cryptocurrencies, while innovative, are not a replacement for national preparedness.”
Domestic Reforms and Unity
In addition to defense concerns, Dimon touched on broader domestic issues, including political division, economic policy, and social cohesion. He cautioned that internal dysfunction and legislative gridlock could hinder the U.S. from meeting external threats effectively.
He advocated for comprehensive reform across several sectors: immigration, taxation, healthcare, and education. Dimon urged leaders to focus on pragmatic policies and to recommit to American ideals of equal opportunity, innovation, and unity.
“Our greatest strength has always been our values,” he noted. “Freedom, fairness, and the belief in a better future—these must be our guiding lights.”
A Crypto-Skeptic Outlook
Though JPMorgan Chase has adapted to client demand by offering limited Bitcoin trading options, Dimon reaffirmed his personal skepticism toward cryptocurrencies. He reiterated that while the bank facilitates access to Bitcoin, it does not provide custody or recommend it as a core investment asset.
His views contrast with the more crypto-friendly stance taken by the current administration, which sees digital assets as a potential economic edge. Still, Dimon’s cautionary tone adds a prominent voice to the debate on the future role of cryptocurrencies in U.S. economic strategy.
Reinforcing Reagan-Era Values
The Reagan National Economic Forum, held in honor of the 40th U.S. president, emphasized market-driven growth and national strength. Dimon’s remarks resonated with the forum’s mission to reinforce American leadership through responsible policy and innovation.
As the U.S. faces new global challenges, Dimon’s message was clear: security and stability must come before speculation. For many in attendance, his speech served as a call to return to fundamentals—preparing not just for tomorrow’s economy, but for tomorrow’s conflicts as well.