Famous quotes by billionaires about Bitcoin

Since Bitcoin was first introduced in 2009 it has gained a lot of attention, some positive and some negative.
Opinions vary among the world’s billionaires when it comes to Bitcoin. Here are some famous quotes about bitcoin:

Jeff Bezos (net worth: $131 B)

Founder and CEO of Amazon

According to Cointelegraph it’s almost impossible to find any comments made by Bezos directly talking about Bitcoin, cryptocurrency or blockchain technology.

Bill Gates ($96.5 B)

co-founder of Microsoft

“Bitcoin is mostly about anonymous transactions, and I don’t think over time that’s a good way to go. I’m a huge believer in digital currency … but doing it on an anonymous basis, I think that leads to some abuses, so I’m not involved in Bitcoin.”

The Essence of Bill Gates Life – Isa Singh (May 2014)

“I think it’s a technical tour de force but that it is an area where governments are going to maintain a dominant role.”

“Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and of course, for large transactions currency can get pretty inconvenient. The customers we’re talking about aren’t trying to be anonymous. You know they’re willing to be known so the Bitcoin technology is key and you could add to it or you could build a similar technology where there’s enough attribution that people feel comfortable this is nothing to do with terrorism or any type of money laundering.”

Bloomberg (Oct 2014) (Bitcoin price: $376.86)

“The main feature of cryptocurrencies is their anonymity. I don’t think this is a good thing. The Government’s ability to find money laundering and tax evasion and terrorist funding is a good thing. Right now cryptocurrencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way. I think the speculative wave around ICOs and cryptocurrencies is super risky for those who go long.”

Reddit (Feb 2018) (Bitcoin price: $10755.90)

Warren Buffett (Oracle of Omaha) ($82.5 B)

CEO of Berkshire Hathaway

“Of our 49 billion, we haven’t moved any to bitcoin”

CNBC (May 2013 )

“Stay away from it. It’s a mirage basically. … It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”

CNBC (Mar 2014)

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“You can’t value bitcoin because it’s not a value-producing asset. … There’s no telling how far bitcoin’s price will go and described it as a ‘real bubble in that sort of thing’.”

MarketWatch (Oct 2017) (Bitcoin price: $5753.71)

“In terms of cryptocurrencies, generally, I can say almost with certainty that they will come to a bad ending.”

CNBC (Jan 2018)

“If you buy something like a farm, an apartment house, or an interest in a business… You can do that on a private basis… And it’s a perfectly satisfactory investment. You look at the investment itself to deliver the return to you. Now, if you buy something like bitcoin or some cryptocurrency, you don’t really have anything that has produced anything. You’re just hoping the next guy pays more.”

Yahoo Finance (Apr 2018)

“Bitcoin has no unique value at all. It is a delusion, basically. It attracts charlatans.”

CNBC (Feb 2019)

Larry Ellison ($62.5 B)

CEO of Oracle

“Blockchains are often thought of in the context of bitcoin or other cyber currencies. But increasingly, companies outside of finance are using blockchain technology to replace long-held authentication practices in law, real estate, and shipping.”

Business Insider (Oct 2017)

Mark Zuckerberg ($62.3 B)

Chairman and CEO of Facebook

“The technology powering bitcoin could help improve Facebook in the future.”

Independent (Jan 2018)

Jack Ma ($37.3 B)

Chairman of Alibaba Group

“Blockchain technology could change our world more than people imagine. Bitcoin, however, could be a bubble.”

Bloomberg (Jun 2018) (Bitcoin price: $6250.81)

Michael Dell ($34.3 B)

CEO of Dell Technologies

“Dell is now the world’s largest e-commerce business to accept #bitcoin”

Twitter (Jul 2014)

Elon Musk ($22.3 B)

Founder and CEO of SpaceX, co-founder, and CEO of Tesla

“My opinion of bitcoin is that it’s probably a good thing. It is, I guess, primarily a means of doing illegal transactions but that’s not necessarily entirely bad because some things maybe shouldn’t be illegal. It will be useful for legal and illegal transactions.”

Vanity Fair (Oct 2014)

“I literally own zero cryptocurrency, apart from 0.25 BTC that a friend sent me many years ago.”

Twitter (Feb 2018)

Ray Dalio ($18.4 B)

Founder of Bridgewater Associates

“Bitcoin today you can’t make much transactions in it. You can’t spend it very easily. It’s not an effective storehold of wealth because it has volatility to it, unlike gold. Bitcoin is a highly speculative market. Bitcoin is a bubble.”

“There are two important facets to being considered a valid currency: ease of transactions as a medium of exchange and being a storehold of wealth. It’s a shame, it could be a currency. It could work conceptually, but the amount of speculation that is going on and the lack of transactions [hurts it].”

CNBC (Sep 2017)

“It’s very much speculative. People are thinking, ‘Can I sell it at a higher price? ‘so it’s a bubble … With Bitcoin, you can’t make much transactions in it and you can’t spend it very easily. It’s not an effective store-hold of wealth because it has volatility, unlike gold.”

Bloomberg (Sep 2017) (Bitcoin price: $4171.25)

Abigail Johnson ($15.6 B)

Chairman and CEO of Fidelity Investments

“I’m a believer. I’m one of the few standing before you today from a large financial services company that has not given up on digital currencies.”

Quartz (May 2017) (Bitcoin price: $2216.18)

Al-Waleed bin Talal ($15.2 B)

Saudi Arabia billionaire

“I just don’t believe in this Bitcoin thing. I think it’s just going to implode one day. I think this is Enron in the making … It just doesn’t make sense. This thing is not regulated, it’s not under control, it’s not under the supervision of any central bank.”

Bloomberg (Oct 2017) (Bitcoin price: $5911.12)

Eric Schmidt ($12.9 B)

Former Google CEO

“Bitcoin is a remarkable cryptographic achievement, and the ability to create something that is not duplicable in the digital world has enormous value.”

“The bitcoin architecture, literally the ability to have these ledgers which can’t be replicated, is an amazing advancement. Lots of people will build businesses on top of that.”

NewsBTC (Mar 2014) (Bitcoin price: $669.76)

Uday Kotak ($11.8 B)

Managing Director of Kotak Mahindra Bank

“I am a believer that the only cryptocurrency that has worked in the world is gold. Unless we reach a stage where we have an alternative currency that has the same trust as gold, it will be very difficult for the authorities to allow any new cryptocurrencies.”

India Times (Jan 2018)

Ken Griffin ($11.7 B)

Founder and CEO of Citadel

“I don’t have a single portfolio manager who has told me we should buy crypto. What’s unfortunate is the amount of hype and the number of early investors who’ve been caught up in this hype.”

Bloomberg (Jul 2018) (Bitcoin price: $7266.43)

Jack Dorsey ($5.1 B)

co-founder and CEO of Twitter

“The world ultimately will have a single currency; the internet will have a single currency. I personally believe that it will be Bitcoin.”

“It does not have the capabilities right now to become an effective currency. It’s slow and it’s costly, but as more and more people have it, those things go away. There are newer technologies that build off of blockchain and make it more approachable.”

Times of London (Mar 2018)

Richard Branson ($4.1 B)

Founder of Virgin Group

“Virgin Galactic is a bold entrepreneurial technology. It’s driving a revolution. And bitcoin is doing just the same when it comes to inventing a new currency.”

CNBC (Nov 2013)

“Bitcoin as a currency is working. There may be other currencies like it that maybe even better. But in the meantime, there’s a big industry around Bitcoin. People have made fortunes off Bitcoin; some have lost money. It is volatile, but people make money off of volatility, too.”

Bloomberg (Sep 2014) (Bitcoin price: $483.24)

“I have invested in bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting. It has been obvious to us all for quite some time that people aren’t satisfied with the business as usual approach adopted by the major payment networks.”

Virgin (Nov 2014)

Mark Cuban ($4.1 B)

Owner of NBA’s Dallas Mavericks and chairman of AXS TV

“I think it’s in a bubble. I just don’t know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble.”

Twitter (removed) (Jun 2017)

“Bitcoin’s value is a function of supply and demand; it doesn’t really do anything else … Blockchain is a great platform for future applications.”

Bloomberg (Oct 2017) (Bitcoin price: $4283.49)

Howard Schultz ($3.5 B)

Chairman and CEO of Starbucks

“I believe that we are heading into a new age in which blockchain technology is going to provide a significant level of a digital currency that is going to have a consumer application. And I believe that Starbucks is in a unique position to take advantage of that.”

Bloomberg (Jan 2018) (Bitcoin price: $11256.52)

Donald Trump ($3.1 B)

45th President of the United States of America

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity…”

Twitter (Jul 2019) (Bitcoin price: $11802.00)

Jerry Yang ($2.6 B)

co-founder and former CEO of Yahoo

“Bitcoin as a digital currency is not quite there yet. Personally, I am a believer in how digital currency can play a role in our society… but for now, it seems like it’s more driven by the hype of investing and getting a return rather than using it as a transaction currency.”

CNBC (Dec 2017)

Peter Thiel ($2.5 B)

co-founder of PayPal

“I do think Bitcoin is the first [encrypted money] that has the potential to do something like change the world.”

The App Store Chronicle (Nov 2013)

“Bitcoin critics are underestimating [it] … It’s like a reserve form of money, it’s like gold and it’s just a store of value. You don’t need to use it to make payments.”

CNBC (Oct 2017) (Bitcoin price: $5842.24)

“I would be long bitcoin, and neutral to skeptical of just about everything else at this point with a few possible exceptions.”

“There will be one online equivalent to gold, and the one you’d bet on would be the biggest. I’m not talking about a new payments system. It’s like bars of gold in a vault that never move, and it’s a sort of hedge of sorts against the world going to fall apart.”

“Any of the objections most people would have to Bitcoin are the same objections people would have had to gold but money is a bubble that never pops … and there is this bubble-like aspect to money that can be quite stable.”

CNBC (Mar 2018)

Jeffrey Gundlach ($2 B)

Founder of DoubleLine Capital

“Maybe I’m just too old, but I’m going to let this mania go on without me.”

CityWire (Sep 2017)

Howard Marks ($2 B)

co-founder and co-chairman of Oaktree Capital Management

“Digital currencies are nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it. They are not real! Nobody has been able to make sense to me of these currencies.”

Bloomberg (Jul 2017) (Bitcoin price: $2503.29)

“So my initial bottom line is that I see no reason why Bitcoin can’t be a currency … But I still don’t feel like putting my money into it, because I consider it a speculative bubble. I’m willing to be proved wrong.”

Bloomberg (Sep 2017) (Bitcoin price: $4247.55)

Chris Larsen ($1.9 B)

CEO of Ripple

“Bitcoin solved the double-spend problem. The key problem was payment confirmation without central clearing. Bitcoin’s solution was ingenious but wasteful — it’s fairly slow, and you can’t put other things on it. It’s premised on forcing the world to adopt to Bitcoin, which is like making everyone switch to Esperanto.”

Business Insider (Mar 2014)

Charles Munger ($1.6 B)

Vice-chairman of Berkshire Hathaway

“I never considered for one second having anything to do with it. I detested it the moment it was raised. It’s just disgusting. Bitcoin is noxious poison.”

Bloomberg (Feb 2018) (Bitcoin price: $9287.96)

“To me, it’s just dementia. It’s like somebody else is trading turds and you decide you can’t be left out.”

CNN (May 2018)

Marc Andreessen ($1.3 B)

co-founder Andreessen Horowitz

“Bitcoin is a classic network effect, a positive feedback loop. The more people who use Bitcoin, the more valuable Bitcoin is for everyone who uses it, and the higher the incentive for the next user to start using the technology. Bitcoin shares this network effect property with the telephone system, the web, and popular Internet services like eBay and Facebook.”

“Bitcoin gives us, for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer. The consequences of this breakthrough are hard to overstate.”

“The gulf between what the press and many regular people believe Bitcoin is, and what a growing critical mass of technologists believe Bitcoin is, remains enormous.”

New York Times (Jan 2014)

“Most of the big breakthrough technologies/companies seem crazy at first: PCs, the internet, Bitcoin, Airbnb, Uber, 140 characters. It has to be a radical product. It has to be something where, when people look at it, at first they say, ‘I don’t get it, I don’t understand it. I think it’s too weird, I think it’s too unusual’.”

Stanford (Mar 2014)

Jamie Dimon ($1.3 B)

Chairman and CEO of JPMorgan Chase

“It’s just not a real thing, eventually it will be closed.”

“Bitcoin will eventually blow up. It’s a fraud. It’s worse than tulip bulbs and won’t end well. Someone is going to get killed.”

“Currencies have legal support. It will blow up.”

“I’m not interested that much in the subject at all.”

CNBC (Sep 2017)

“It’s a fraud. If a JPMorgan trader began trading in Bitcoin, I’d fire them in a second. For two reasons: It’s against our rules, and they’re stupid. And both are dangerous.”

Bloomberg (Sep 2017) (Bitcoin price: $4179.95)

“The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.”

“If you were in Venezuela or Ecuador or North Korea or a bunch of parts like that, or if you were a drug dealer, a murderer, stuff like that, you are better off doing it in bitcoin than US dollars. So there may be a market for that, but it would be a limited market.”

The Guardian (Sep 2017)

“I regret making comments saying Bitcoin is a fraud. The blockchain is real. You can have crypto yen and dollars and stuff like that.”

Bloomberg (Jan 2018) (Bitcoin price: $14554.08)

Brian Armstrong ($1.3 B)

CEO and co-founder of Coinbase

“I think it’s going to end up a lot like the Internet. Some countries try to regulate the Internet — bitcoin will be very much like that. It will be legal, and there will be some countries with currency control.”

TechCrunch (Oct 2014)

Lloyd Blankfein ($1.2 B)

Chairman of Goldman Sachs

“Something that moves 20% [overnight] does not feel like a currency. It is a vehicle to perpetrate fraud.”

“When do I have to have a bitcoin strategy? Not today. Life must be really rosy if that is what we are talking about. Bitcoin is not for me. A lot of things that have not been for me in the past 20 years have worked out, but I am not guessing that this will work out.”

The Guardian (Nov 2017)

“Maybe Bitcoin is a kind of a bubble, I don’t like it, I’m not comfortable with it, I don’t trust it. On the other hand, if it works… maybe that was a natural progression from hard money to fiat money to consensus money.”

CNBC (Nov 2017)

“I don’t have an investment in it, but I’m not willing to pooh-pooh it, and that’s why I say I’m open to it.”

Bloomberg (Nov 2017) (Bitcoin price: $7057.82)

Changpeng Zhao (CZ) ($1.2 B)

Founder and CEO of Binance

“On the first day I learned of Bitcoin, I thought, ‘Wow, this is going to be very good internationally’, because I have personally experienced a lot of trouble transferring money from one country to another. For example, if I moved to Hong Kong, I would be wanting to transfer money from Canada to Hong Kong — it is a pain. I understood the impact of that. China, Canada, the US, Hong Kong, Japan — I’ve lived in all of those places and that experience helps a lot.”

Cointelegraph (Jan 2018)

What do you think about Bitcoin? Leave a comment.

*Featured image from Pixabay
*Net worth source: Forbes

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