Jamie Dimon Urges U.S. to Stockpile Bullets and Rare Earths, Not Bitcoin, at Reagan Forum

SIMI VALLEY, Calif. — At the Reagan National Economic Forum, JPMorgan Chase CEO Jamie Dimon delivered a bold wake-up call, urging the U.S. to prioritize stockpiling guns, ammunition, drones, and rare earths over cryptocurrencies like bitcoin. Speaking with conviction, Dimon argued that national security demands tangible resources, not digital assets. "We shouldn't be stockpiling bitcoins," he declared during a panel discussion, emphasizing the need for military readiness in an increasingly volatile world. "If there's a war in the South China Sea, we have missiles for seven days. That’s not enough."

Dimon’s remarks come amid President Donald Trump’s recent executive order establishing a bitcoin reserve, dubbed a "virtual Fort Knox." Yet, Dimon dismissed this focus, advocating for a robust defense strategy. He stressed the urgency of preparing for global challenges, from wars to the potential spread of nuclear weapons, while pointing to an "enemy within"—America’s own internal dysfunction. "Our real threat isn’t China," he said. "It’s our inability to get our act together—our values, our management, our economy."

In a fireside chat, Dimon painted a picture of a nation at a crossroads. He criticized the U.S. government as a "Leviathan" too weak to enact effective policies yet burdensome enough to frustrate its citizens. He called for a return to core American values—freedom of speech, enterprise, and equal opportunity—while acknowledging the nation’s historical flaws, particularly its treatment of Black Americans. "Celebrate our virtues, but don’t ignore our mistakes," he urged.

Dimon also warned that America’s status as the world’s reserve currency isn’t guaranteed. "If we’re not the preeminent military and economic power in 40 years, we won’t be the reserve currency. History proves it." His solution? Fix the nation’s schools, healthcare, immigration, and regulations to restore global dominance. The Reagan National Economic Forum, hosted at the Reagan Presidential Library, gathered leaders like Secretary of Energy Chris Wright and Sens. Mike Rounds and Bill Cassidy to discuss these pressing issues, rooted in Ronald Reagan’s belief in free markets and individual opportunity.