Even the smartest investors are divided on bitcoin

Bitcoin has become the world’s most popular cryptocurrency, with a market capitalization of more than $100 billion. It is also one of the most divisive investments in history. Some investors see it as a golden opportunity while others warn there could be a bubble. Even some of the smartest investors are divided on bitcoin:
Warren Buffett is famous for saying that bitcoin is a mirage.
If you’re a student of the stock market and have some money to invest, there’s a good chance that you’ve heard of Warren Buffett. He’s famous for making money in the stock market, but he has also criticized bitcoin as a mirage.
Buffett is one of the richest people in the world with an estimated net worth of $85 billion USD at last count — and he earned his fortune by investing wisely in companies like Coca-Cola and American Express. He is considered by many experts to be one of history’s greatest investors; Time magazine even named him “Person Of The Century.”
Chris Larsen, the founder of Ripple, says it’s the next big thing.
Chris Larsen, the founder of Ripple, a cryptocurrency network used by banks and other financial institutions to move money, told CNBC that bitcoin is the first application of blockchain technology. He added that it’s similar to gold or silver in that it’s a store of value.
“Bitcoin is digital gold,” he said in an interview with CNBC on Monday. “I think people need something like bitcoin because they need some sort of permissionless way to make payments.”
Bill Miller, who manages the Legg Mason Value Trust fund, says he owns bitcoin.
Bill Miller, who manages the Legg Mason Value Trust fund, says he owns bitcoin. Miller has a long history of beating the market and is one of Wall Street’s most respected investors. In fact, his fund has outperformed its benchmark index for 15 straight years — an incredible feat given how volatile markets have been during that period.
In an interview with Bloomberg TV last month, Miller said he bought some bitcoin for his family members as well as himself at around $2 per coin back in 2011 when everyone else was dismissing it as worthless hype or an illegal currency used solely by drug dealers on Silk Road (an online marketplace). Since then, it has risen more than 2 million percent.”I never thought I’d make any money off Bitcoin,” Miller said at the time.”It seemed like something interesting but not necessarily something that would be important enough to spend time on.”
Jamie Dimon, CEO of JPMorgan Chase, recently called bitcoin a fraud.
Jamie Dimon, CEO of JPMorgan Chase, recently called bitcoin a fraud. He said that it was used for illegal activities and that it would ultimately blow up in people’s faces.
Dimon said that bitcoin is not a currency because it is not backed by anything but its value as an investment: “It’s worse than tulip bulbs,” he said. “It won’t end well.”
Steve Wozniak said he has invested in bitcoin.
You might be surprised to learn that even the smartest investors are divided on bitcoin.
Steve Wozniak, the co-founder of Apple, said he has invested in bitcoin and believes it will be better than gold as a store of value. He also said he’s not interested in using the cryptocurrency to buy stuff.
“Bitcoin is mathematical, there is a certain quantity of Bitcoin that can ever exist,” Wozniak told CNBC at Money 20/20 in Las Vegas last week. “Gold gets mined and mined and mined; more and more gold is being used in our jewelry industry than ever before.”
While some investors are bullish on cryptocurrencies, others warn that there could be a bubble.
Bitcoin is a new asset class, and investors are divided on whether it’s a bubble or not.
Some experts say that bitcoin has no intrinsic value and is only worth what someone will pay for it. Others say that there are many factors that make bitcoin valuable, including scarcity, utility and use cases. But no one knows how high the price will go from here or even if there will be another crash like last year’s when prices fell 80%.
I think it’s important to remember that these are all just predictions. We don’t know what will happen in the future and whether or not bitcoin will be successful as a currency. But I do know one thing: if you want to get involved with cryptocurrencies, there are plenty of ways to do so. You can buy them directly on an exchange like Coinbase or Kraken, or invest through one of many funds that focus solely on this area of finance (like the Digital Currency Fund).
