While negative press may not have a significant or lasting impact on bitcoin value, the slurry of negative opinions that some well-known multi-billionaires expressed towards bitcoin may have contributed to the delays in its road to $10,000.
First off, we have Warren Buffett and Charlie Munger. These billionaires never fail to make their opinions on bitcoin known.
At the annual meeting for Daily Journal Corp, Munger called bitcoin a “disgusting,” “noxious poison” saying:
“I have never considered for one second having anything to do with it. I detested it the moment it was raised.”
He commended the Chinese government for their stand on bitcoin, calling the U.S. government “wrong” for being lenient towards the cryptocurrency.
Warren Buffett had the same sentiments. He swore that he would never buy cryptocurrencies. At the Berkshire Hathaway Annual Shareholder Meeting, he even went on to say that bitcoin is “probably rat poison squared.”
He followed up with a prediction of the future of cryptocurrency:
“In terms of cryptocurrencies, generally, I can say almost with certainty that they will come to a bad ending.”
Following these comments, it was Bill Gates’ turn to criticize the coin. On the topic of bitcon, Gates told CNBC last Monday:
“I would short it if there was an easy way to do it.”
He has also previously linked bitcoin and cryptocurrencies in general with illegal transactions, saying that they have “caused deaths in a fairly direct way.”
Gates, however, clarifies that he is a supporter of blockchain technology.
These known billionaires bombarding the crypto space with negative opinions may be part of the reason why bitcoin has not yet reached $10,000 this week despite coming extremely close to the figure. What do you think about their opinions? Will they be proven wrong?