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The cryptocurrency continues to divide the financial world as some other subjects. Even among the experts in respected money, opinions range from enthusiastic approval to a complete dismissal.
The split does not only concern the investment strategy. It reflects fundamental disagreements on the future of money, technology and financial systems. Some experts consider crypto as a revolutionary technology that will reshape funding. Others consider it a speculative game that threatens traditional principles of wealth creation.
Here is how six eminent financial experts align the debate on cryptography.
Crypto enthusiasts
These three are definitely on the favorable side of the crypto.
Kevin O’Leary
The star of “Shark Tank” has become one of the most vocal supporters in crypto. O’Leary first called Bitcoin “Garbage” but completely changed his air after a deeper search in technology.
In fact, he allocated around 20% of his crypto portfolio. O’Leary frequently discusses cryptographic investments on CNBC and has teamed up with FTX (before its collapse) and other cryptographic platforms. He maintains that institutional adoption validates cryptocurrency as a class of legitimate assets.
Anthony Poseliano
“Pomp” has built its entire brand around Bitcoin plea. The former analyst of Morgan Stanley who has become an Crypto entrepreneur maintains that Bitcoin represents the future of money and the value reserve.
Pospiano has often declared on his podcast and social media that Bitcoin is the most efficient asset. He thinks that Bitcoin will possibly replace gold as a main value reserve and recommends important portfolio allowances to cryptocurrency.
Michael Saylor
The CEO of microstrategy has transformed all his business into a Bitcoin proxy by buying more than 190,000 bitcoins for the company’s treasure. Saylor has become the most eminent corporate evangelist in crypto.
Saylor supported in interviews and presentations that Bitcoin is a “digital property”. He considers Bitcoin as greater than real estate, gold and obligations as a long -term value store, in particular for companies that seek to preserve capital.
Saylor regularly speaks during Bitcoin lectures and maintains an active presence on social networks promoting the adoption of bitcoin between individuals and institutions.
Critics of cryptography
These three feel a little differently from those we have just discussed.
Warren Buffett
The CEO of Berkshire Hathaway has never hesitated in his cryptographic skepticism. Buffett called bitcoin “square poison” and has always argued that cryptocurrencies do not produce anything.
“I have no cryptocurrency and I will never do it,” said Buffett at the annual meeting of Berkshire shareholders in 2020. He argues that the crypto does not have the productive capacity of companies or real estate, which makes it purely speculative.
While Warren Buffett remains a vocal critic of Bitcoin, the investment activity of his business tells a more nuanced story. Berkshire Hathaway has taken an indirect exposure to cryptographic space through participations in companies like Nu Holdings, which offers crypto -related services, and Jefferies Financial Group, which is considerably invested in the FNB Ishares Bitcoin Trust, the largest Bitcoin fund to the largest spot in the world.
Charlie Munger
The deceased vice-president of Berkshire was even more blurred in his cryptography criticism than Buffett. Munger had hard words for crypto.
“I think that all the fucking development is disgusting and contrary to the interests of civilization,” said Munger during various investment conferences.
Munger thought that cryptocurrency represents everything that does not go with modern speculation and called for government prohibitions on digital assets.
Jamie Dimon
The CEO of JPMorgan Chase was one of the most important banking criticism of crypto, calling bitcoin “fraud” and predicting government’s repression on digital assets.
“Bitcoin is a fraud that will eventually explode,” said Dimon in 2017, although he has slightly softened his language in recent years. He maintains that cryptocurrencies serve little legitimate purpose beyond speculation and criminal activity.
Interestingly, JPMorgan has developed its own blockchain technology for internal use while Dimon remains skeptical about public cryptocurrencies like Bitcoin.
