There are still lots of arguments about bitcoin and cryptocurrency market. Although there are lots of people saying it is the future, some well known investors think otherwise. Lets see what they say.
Warren Buffet, the best investor of all time:
"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, head of one of the biggest global money center banks in the world:
“It’s not a real thing. It’s a fraud.”
Ray Dalio, founder of one of the biggest hedge funds in the world:
“Bitcoin is a bubble… It’s speculative people, thinking they can sell it at a higher price…and so, it’s a bubble.”
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."
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.”
Mark Cuban: “Only invest if you're prepared to lose your money.”
Eric Schmidt, Executive Chairman of Google:
“Bitcoin is a remarkable cryptographic achievement… The ability to create something which is not duplicable in the digital world has enormous value…Lot’s of people will build businesses on top of that.”
John McAfee, founder of the software and anti-virus company McAfee Associates:
“In the long term Bitcoin moves above $500,000 within three years. Bets?”McAfee tweeted on 17 July 2017.
Peter Thiel, Co-Founder of PayPal:
“PayPal had these goals of creating a new currency. We failed at that, and we just created a new payment system. I think Bitcoin has succeeded on the level of a new currency, but the payment system is somewhat lacking. It’s very hard to use, and that’s the big challenge on the Bitcoin side.”
What you think about it? Are they just scare what they don't understand? or "Are they saying the truth?"
Please feel free to comment!
Sources:
https://www.cnbc.com/2017/12/07/should-you-buy-into-bitcoin-heres-what-top-investors-say.html