A sharp drop in cryptocurrency prices in early October led to the fact that the pessimists once again rushed to publicly share their negative opinion on the market. Let’s remember the most famous critics (they are listed in ascending order of their hostility to bitcoin).
5. Robert Shiller
Robert Shiller, Nobel laureate and Professor at Yale University. He has enough experience and credibility to formulate a balanced position, however, the owners of bitcoins it is unlikely to enjoy. Speaking on CNBC, Shiller said that bitcoin could disappear in the next 100 years, and noted that the first cryptocurrency “similar to bubble.”
But there is good news: Yes, Shiller really believes that cryptocurrency market there is a huge bubble, but he doesn’t think he will completely evaporate. In an interview with Bloomberg, he said:
“This is a speculative bubble. But this does not mean that nothing of it will remain.”
4. Warren Buffett
All probably heard about Warren Baffetta, the third richest man on Earth. His fortune is estimated at $ 85 billion, and it is deservedly considered one of the most successful investors in history. His opinions are definitely worth listening to.
Unfortunately, Buffett is not a fan of digital assets. He believes that bitcoin has no intrinsic value. Speaking on CNBC, Buffett also noted that the asset itself does not create anything. He said:
“With regard to cryptocurrencies, in General, I can say that they are waiting for a sad end”.
3. Joseph Stiglitz
World Economic Forum/Flickr
Columbia University Professor and Nobel laureate Joseph Stiglitz takes a more assertive position in relation to cryptocurrency than Robert Shiller. Speaking in 2016 at the joint spring session of the IMF and the world Bank, Stiglitz stated that bitcoin should be outlawed. He believes that the regulation will eliminate the demand for bitcoin, which in turn will kill the cryptocurrency. Stiglitz said:
“I feel that when the regulation will prevent the laundering of money and other manipulation of digital currency, the demand for bitcoin will disappear. In other words, eliminating the violations, you will destroy bitcoin”.
2. Bill Gates
Nobody would like to get into a situation where the second and third richest people in the world would have been on the other side of the fence. Bill gates, founder of Microsoft, to date, is estimated at more than $ 95 billion. And he also does not like cryptocurrencies. In the may interview with CNBC, gates said:
“I have played against this mania, if there was an easy way to do it.”
We will remind, in may, bitcoin was worth as much as $9300! If then the gates opened a short position, that’s fine would work.
Answering users ‘ questions on Reddit, gates wrote about cryptocurrency the following:
“The main feature of a digital currency is its anonymity. I don’t think it’s good. Tracking financial flows, the authorities fight money laundering, tax evasion and terrorist financing. Currently, crypto currencies are used to buy fentanyl and other drugs, so this technology is one of the few that is directly associated with the deaths. I think the speculation wave surrounding ICO and cryptocurrencies is extremely dangerous for investors.”
1. Nouriel Roubini
World Economic Forum/Flickr
Roubini — renowned economist, a Professor at new York University and one of the few who predicted the financial crisis of 2008. It can be called one of the toughest opponents of cryptocurrencies. In the last few weeks it is very actively shared on Twitter with your negative point of view.
Roubini, of course, took the top spot in our list and leads by a wide margin. If you see the history of his posts to Twitter, you can discover how Roubini calls cryptocurrency trade “global manipulative Scam” and says that “99% of crypto is a Scam”.
“The cryptocurrency industry is saturated with different manipulations. There is a thriving pump and dump, spoofing, fictitious bids, ahead of the transaction, insider trading, conflicts of interest at exchanges, Tether and other pseudostable coins, which, as shown by research, the cost of bitcoin soared more than 80%”, — he wrote in his Twitter.
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