ALERT: This is What Billionaires Say About Bitcoin!!
Carl Icahn:
“I don’t understand it… If you read history books about all of these bubbles…this is what this is.”
Warren Buffett:
"Stay away from it. It's a mirage... the idea that it has some huge intrinsic value is a joke. It's a way of transmitting money."
Jamie Dimon:
“It’s not a real thing. It’s a fraud.”
Ray Dalio:
“Bitcoin is a bubble… It’s speculative people, thinking they can sell it at a higher price…and so, it’s a bubble.”
Leon Cooperman:
"I have no money in bitcoin. There's euphoria in bitcoin."
Marc Lasry:
"I should have bought bitcoin when it was $300. I don’t understand it. It might make sense to try to participate in it, but I can’t give you any analysis as to why it makes sense or not. I think it’s real, as it coming into the mainstream."
Ken Griffin:
"It’s not the future of currency. I wouldn’t call it a fraud either. Bitcoin has many of the elements of the Tulip bulb mania.”
Jerry Yang (founder of Yahoo):
"Bitcoin as a digital currency is not quite there yet. I personally am a believer that digital currency can play a role in our society, but for now it seems to be driven by the hype of investing and getting a return, as opposed to transactions.”
Michael Novagratz:
"The whole market cap of all of the cryptocurrencies is $300 billion. That’s nothing. This is global. I have a sense this can go a lot further.”
This doesn't worry me. Billionaires have faith in banks because they have so much money in them. Banks are nice to rich people. For the rest of us who have been screwed over by banking systems, cryptocurrencies is the future, and there's a lot more nonbillionaires than billionaires.
This may be the reason why they are not involved in trading cryptocurrencies.
I think the primary reason people have such hard time understanding bitcoin and other cryptocurrency is because they don't understand the value of fiat currency. The quantity may be defined by the federal reserve, but the value of the dollar or any fiat currency is defined by the value of the industry in the nation. The US dollar is valuable because we have a massive economy and almost everything within that economy can only be bought with dollars. The value of bitcoin is its security, trustlessness, and decentralized architecture.
But is it the future currency? Or just temporary as some billionaires think?
Honestly there's a good chance that Bitcoin is temporary, but I'm sure it'll be replaced by another better cryptocurrency.