Eric Trump, co-founder of American Bitcoin, used his appearance at Consensus Miami 2026 to criticize JPMorgan Chase over what he described as a sharp reversal in its view of Bitcoin. According to Trump, the bank had previously dismissed Bitcoin as a “joke asset,” but now allows clients to use their Bitcoin holdings in connection with home mortgage borrowing.
Trump emphasized that this policy shift happened in just 18 months, presenting it as evidence that major financial institutions are being forced to adapt to the growing role of crypto. In his view, banks that once resisted digital assets are increasingly acknowledging that they can no longer ignore the sector.
A changing stance from traditional finance
During the speech, Trump argued that JPMorgan’s move reflects a broader change across traditional finance. He said the crypto industry has “broken the banks” that had previously rejected the Trump family’s business, framing the moment as a symbolic win for the digital asset sector over long-standing institutional skepticism.
The remarks underline how Bitcoin continues to move closer to mainstream financial use cases. A bank permitting mortgage-related borrowing against Bitcoin holdings signals that crypto is being treated less as a fringe speculation and more as an asset class with practical financial utility.
American Bitcoin’s mining strategy
Trump also highlighted the operating focus of American Bitcoin, where he serves as chief strategy officer. He said the company is concentrating on cost-efficient Bitcoin mining, with the goal of achieving the lowest acquisition costs in the sector.
Overall, the speech combined criticism of legacy banking with a pro-crypto message, reinforcing the increasingly visible convergence between Bitcoin and traditional financial services.