a billionaire just pulled $20 million from chase. heres why it matters.
a billionaire just walked into chase and withdrew $20 million.
not quietly. not through lawyers. he announced it to millions of followers and told everyone else to do the same. grant cardone…. the real estate guy with the private jets and the loud personality…. just picked a side. and it wasnt the bank’s.
this happened after jpmorgan published a report trying to tank strategy’s stock. after they warned that companies holding bitcoin might get kicked out of major indexes. after years of jamie dimon calling bitcoin a fraud while his traders quietly accumulated.
but heres what most people are missing about this moment. the money doesnt matter. $20 million is a rounding error to jpmorgan. what matters is the signal. a billionaire choosing to publicly humiliate one of the most powerful banks on earth because they attacked bitcoin. thats new. thats different. five years ago that wouldve been career suicide. today its a flex.
jack mallers got debanked by chase last month. no explanation. his family had been clients for 30 years. they sent him a letter citing “concerning activity” and showed him the door. he framed it and hung it on his wall. thats the energy now. getting kicked out of the old system is becoming a badge of honor.
and this is what the banks dont understand yet. every time they attack bitcoin they create another convert. every account they close creates another evangelist. every hit piece creates another headline that spreads the message further than any marketing campaign ever could. jpmorgan isnt fighting bitcoin. theyre advertising it.
so what does this mean long term? it means the lines are being drawn. the institutions that adapt will survive. the ones that keep fighting will become cautionary tales in business school textbooks. we’ve seen this pattern before…. kodak and digital cameras, blockbuster and streaming, taxis and rideshare. the incumbants always think they can stop the future by refusing to participate in it. they cant. they never could.
cardone moving $20 million wont change jpmorgans balance sheet. but it might change yours. the question isnt whether the banks will eventually accept bitcoin. they will. they have to. the question is whether youll still need them by the time they figure it out.