Jamie Dimon wants to fortify America's economic defenses, but the plan will spark an unlikely side effect, according to CNBC's Jim Cramer.
- Track $BTC here.
The JPMorgan Chase CEO unveiled a $1.5 trillion initiative dubbed “Security and Resiliency.” The sweeping 10-year effort aims to finance and invest in industries deemed vital to national security — from critical minerals and batteries to AI and quantum computing.
Cramer, however, sees trouble brewing as a fresh wave of speculation has crypto bugs crawling out of the woodwork.
"We are in 2000 territory on specs," he warned on X, saying Dimon's fund "unwittingly stoked a huge spec wave." His message to investors: trim before people get hurt.
Read Also: AMD Stock’s Sellerless Surge: Cramer’s Crystal Ball Says Bubble Or Boom?
When Wall Street Gets Defensive — And Speculative
On paper, Dimon's plan looks patriotic. The bank will pour up to $10 billion in direct equity investments, helping U.S. companies in sectors such as defense, energy resilience, and advanced manufacturing. The move underscores Dimon's belief that the U.S. has become "too reliant on unreliable sources of critical minerals and manufacturing."
But Cramer's point is that Wall Street can't resist turning even the safest-sounding plans into speculative fuel. As Dimon talks "national resilience," traders are chasing crypto again — Bitcoin (CRYPTO: BTC) is up more than 60% over the past year, hovering above $108,000.
"It's where the cockroaches are," Cramer said, comparing the current moment to the dot-com bubble, when speculation overran fundamentals.
The Irony: AI, Defense — And Digital Speculation
The irony isn't lost on investors. JPMorgan's initiative includes funding for "frontier technologies" such as AI, cybersecurity, and quantum computing — all sectors now being linked, reasonably or not, to the crypto boom. As money flows into anything labeled "future tech," Cramer fears speculative excess will return with a vengeance.
Dimon's $1.5 trillion push might indeed strengthen America's economic backbone.
But as Cramer sees it, Wall Street's old habits die hard — and the cockroaches, it seems, are back to feast on the frenzy.
Read Next:
© Doral Chenoweth / USA TODAY NETWORK via Imagn Images
