The United States should stockpile guns, ammunition and drones instead of bitcoin, JPMorgan Chase CEO Jamie Dimon said Friday at the inaugural Reagan National Economic Forum in California.
“We shouldn’t be stockpiling bitcoins,” Dimon said when asked about how industrial policy is entwined with national security policies during a panel. “We should stockpiling guns, bullets, tanks, planes, drones, you know, rare earths. We know we need to do it. It’s not a mystery.”
Bitcoin is a decentralized digital currency that operates outside of banking or government authority. President Donald Trump signed an executive order in March establishing a Bitcoin reserve, which he described as “a virtual Fort Knox for digital gold.”
“We should be stockpiling bullets,” he continued. “Like, you know, the military guys tell you that, you know, if there’s a war in the South China Sea, we have missiles for seven days. Okay, come on. I mean, we can’t say that with a straight face and think that’s okay. So we know what to do. We just got to now go about doing it. Get the people together, roll up our sleeves, you know, have the debates.”
