This episode is sponsored by NYDIG.

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Ah, Jamie Dimon. One of the skeptics with the longest term for Bitcoin and one of the most wrong from a market perspective. Yesterday the CEO of JPMorgan Chase added new material to its anti-Bitcoin cannon and Bitcoin Twitter was extremely quick to respond. In fact, part of that response was generally upward as Bitcoin saw another surge above $ 57,000. NLW examines Bitcoin’s Twitter response to Dimon’s comments and examines why many believe the current rally is being driven by institutions rather than retailers.

See also: Market Wrap: Bitcoin all-time high expected but not before a pullback

“The Breakdown” was written, produced and presented by NLW, with editing by Rob Mitchell and additional production support from Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is Countdown from Neon Beach. The music that you heard behind our sponsor today is “Tidal Wave” by BRASKO. Photo credit: Justin Sullivan / Getty Images News, modified by CoinDesk.

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