What do the most famous financiers and rich people think of Bitcoin?
Even billionaires are attracted to the crypto sphere. What do they think about Bitcoin and blockchain?
Top 13 most wealthiest people in the crypto industry. Their thoughts and beliefs about future of Bitcoin and other cryptocurrencies.
Over the past decade, blockchain, Bitcoin and other cryptocurrencies have turned over the entire industries they have come into contact with. Banks, hedge funds, law enforcement, healthcare and real estate. Blockchain technology and crypto have the potential to revolutionize many areas, but now we are only at the beginning of this scenario. However, despite the general enthusiasm and excitement around cryptography, almost all of the world’s wealthiest people have a controversial position on this relatively new phenomenon.
Take the example of billionaire Warren Buffett, who has long earned a reputation as one of the main haters and critics of Bitcoin. On the other hand, there are those who liked the breakthrough technology. Let’s take a closer look at the list of the richest people in the world according to Forbes, as well as their opinion on the crypto and blockchain technologies.
Jeff Bezos, founder of Amazon
Jeff Bezos is considered the richest man in the world. His capital currently stands at $130 billion. The founder of Amazon, the largest e-commerce retailer, is rumored to have already invested in Bitcoin several times. Even Changpen Zhao, the founder of the world’s largest cryptoexchange Binance, has said that Bezos will be the catalyst for the next price jump of Bitcoin.
However, none of the rumors have been confirmed, and Amazon denies any plans to start taking Bitcoins or any other cryptocurrency.
Bill Gates, founder of Microsoft
With a net worth of over $100 billion, Bill Gates was for some time considered one of the richest businessmen in the world. Gates had previously been enthusiastic about Bitcoin. In 2014 he said in an interview with Bloomberg that Bitcoin is better than any currency. However, he later changed his mind and now believes that the anonymity of digital currencies will not allow using them for everyday transactions.
In addition, during an interview with CNBC in 2018, Gates said the following.
“Bitcoin and ICO [initial offering of coins, a way to attract investment in cryptocurrency projects] are entirely based on speculation.”
However, he, like many other critics of Bitcoin, noted that the blockchain technology embedded in the cryptocurrency actually has enormous potential.
Warren Buffett, the world famous Wall Street investor
Buffett is an old Bitcoin critic. Prior to his Berkshire Hathaway holding’s annual meeting in 2018, he called Bitcoin “fiction,” which is more like “rat poison squared” than currency.
In a recent interview, however, Justin Sun, CEO of Tron, said that Buffet was open enough for new technologies. This happened right after San’s charity dinner with the Oracle of Omaha [nicknamed Warren Buffett]. During the lunch, the young CEO tried to explain to Buffett the potential of cryptographic software.
But later it turned out that he failed to convince a hardened investor from the traditional sector.
Bernard Arnault, owner of the LVMH empire
Bernard Arnault has been one of the wealthiest people in the world since 1985 — after his holding bought the Christian Dior brand. His empire includes over 70 luxury brands, including Sephora and Louis Vuitton. According to Forbes, his business achieved record sales in 2018.
Although there have been no official comments from Arno on Bitcoin and blockchain technology, some conclusions can be drawn. It is reported that the billionaire worked with Microsoft Azure and ConsenSys last year with plans to develop a blockchain-based platform that will help track products created by LVMH. However, there is also evidence to the contrary. According to some publications, Arnault has not agreed to participate in the creation of a Belgian crypto company called Abesix Belgique.
Mark Zuckerberg, founder and CEO of Facebook
Not so long ago, the Facebook social giant failed with the launch of its own stablecoin called Libra. Many expressed concern that if Zuckerberg’s company will be allowed Libra to be launched, it would undermine the position of most of the world’s fiat currencies.
At the same time Mark Zuckerberg states that “they take their project with full seriousness and will naturally try to take into account any aspects and factors before giving the currency to the mass consumer”. Around 2018, the founder of Facebook has been showing a definitely positive attitude towards the blockchain technology.
“The technology behind Bitcoin will help make Facebook better in the future.”
Michael Bloomberg, founder of Bloomberg and ex-mayor of New York City
In addition to being among the top ten richest people in the world, Michael Bloomberg is currently running for the US president from the Democratic Party. Unlike other high-ranking politicians like current U.S. President Donald Trump, Bloomberg has a rather positive view on crypto and blockchain technology.
“Cryptocurrencies have become an asset class of hundreds of billions of dollars, but regulatory oversight remains fragmented and belated. At the same time, despite the full potential of the Blockchain and Bitcoin, one should keep in mind the great risks, fraud and criminal activities associated with them.”
Ray Dalio, founder of Bridgewater Associates
Recently, Ray Dalio gave an interview to CNBC, in which he confirmed his fears about the state of the world economy. In his opinion, the monetary policy is now in a position where what used to work no longer works.
However, instead of recommending a transition to Bitcoin, Dalian believes gold is a much safer safe haven for preserving capital. Money has two purposes: the means of exchange and the means of saving. And Bitcoin is ineffective in either of these cases.
Elon Musk, CEO of Tesla and SpaceX
Not long ago, Elon Musk was in the spotlight for his mysterious tweets about Bitcoin. However, the CEO of Tesla admitted that he was neither for nor against Bitcoin. And while he sees the potential and value of the largest cryptocurrency, he says it is used mainly for illegal operations. At the same time, Musk believes that although Bitcoin can indeed be used as money, it is unlikely to be a full-fledged replacement for traditional currencies like dollar.
Jack Ma, owner of Alibaba and Aliexpress
In one of Bloomberg’s articles of 2018, Jack Ma’s warning about cryptocurrency was published. According to him, Bitcoin could be a bubble. Earlier, the founder of the giant electronic retailer Alibaba and chairman of the Chinese financial conglomerate Ant Financial said that he pays special attention to blockchain and Bitcoin technology. In particular, he is interested in the potential and ability of these phenomena to create a cashless society.
Michael Novogratz, founder of Galaxy Digital Holdings
Mike Novogratz, CEO and founder of Galaxy Digital Holdings and former manager of Fortress Investment Group, is the one who correctly predicted the price of Bitcoin at the end of 2017.
But this is not his only prediction that could come true. What else did he say? Bitcoin will be the digital equivalent of gold. According to Novogratz, Bitcoin is “the only coin that has become a legitimate project,” no matter how negative it may sound at first glance.
At the same time, in order not to be groundless, the entrepreneur has invested 30 percent of his fortune in cryptocurrencies. And his opinion has not changed even after he lost $136 million in early 2018 due to the collapse of the crypto market.
Tim Draper, a billionaire crypto investor
In September 2019, venture capitalist Tim Draper doubled his forecast on the price of Bitcoin. Now, he believes that the largest cryptocurrency should rise in price to $250 000 by 2022. And that’s “still a conservative estimate.”
Draper has maintained his bullish position on Bitcoin since June 2014, when he bought all the confiscated Bitcoins from the U.S. Marshals Service auction for $19 million.
He also recently decided to completely abandon the stock market and move to Bitcoin.
The Winklevoss brothers, crypto billionaire twins
After the Bitcoin price hike in 2017, Tyler and Cameron Winklevoss were the world’s first Bitcoin billionaires. The founding brothers of the Gemini Cryptocurrency exchange claim to own nearly 1 percent of BTC’s total circulating offer. They are now considered one of the richest Bitcoin investors in the world.
It seems that over time, more and more successful people are starting to pay attention and talk about Bitcoin. Whether they believe in it or not, whether they invest in it or not, the important thing is that they carry the message about Bitcoin. Sometimes their words work much more effectively than the media information. Especially when you consider that the classical media have all conspired to bring news only about the failures of Bitcoin and the crypto sector. But when the cryptocurrency enters another upward trend, journalists from the traditional financial sector often overlook it for some reason.
It is a positive development that even the aforementioned people are at least aware of the cryptocurrency. Yes, Warren Buffett may not like Bitcoin, but his regular comments on the cryptocurrency are able to attract those who believe in the technology and see its value. Therefore, from the same Buffett and other media personalities in theory, one can even welcome criticism of cryptocurrencies and blockchain technology.
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