Bitcoin is a ‘Figment of Everyone’s Imagination’ – Allianz Senior Executive

Another “Old Man Yells at Bitcoin”

Away from price movements, million-dollar lunches, and regulatory crackdowns, memes are one of the more endearing aspects of the lighter side of the blossoming bitcoin scene.

And inside this sub-niche, the “old man yells at bitcoin” motif is perhaps one of the more iconic of the lot. It has featured such notable names as Warren Buffett, Charlie Munger, and Joseph Stiglitz to mention a few.

“I wouldn’t buy bitcoin,” says Neil Dwane, portfolio manager & global strategist at @Allianz.

“I believe bitcoin is a figment of everyone’s imagination. There is no evidence that you can actually get your money back out of the system. To me, it’s not a rational place to invest.”

— Steven Russolillo (Hive account@srussolillo) June 5, 2019

Now, according to Steven Russolillo of the Wall Street Journal (WSJ), Neil Dwane – portfolio manager and global strategist at Allianz, a German multinational financial services giant, has joined the club. In a tweet published on Wednesday (June 5, 2019), the WSJ reporter quoted the Allianz executive as saying:

I wouldn’t buy bitcoin. I believe bitcoin is a figment of everyone’s imagination. There is no evidence that you can actually get your money back out of the system. To me, it’s not a rational place to invest.