What Business Guru's Say About Bitcoin

Written by: Poppy Skinner Created: 07 December 2017

A brilliant new payment method or a bubble that's about to burst? Industry experts weigh in here.

Jamie Dimon: Chief executive of JPMorgan Chase

“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. Don’t ask me to short it. It could be at $20,000 before this happens, but it will eventually blow up.” he said. “Honestly, I am just shocked that anyone can’t see it for what it is.”

Mohamed El-Erian: Chief economic adviser of Allianz SE; former chief executive Pimco; former head of the Harvard University endowment.

“It is a disruptive technology, but the current pricing assumes massive adoption, and I don’t think that governments will allow the amount of adoption that is currently priced in, I would say at least half of what it is, a third of what it is.” 

Warren Buffet: Chief executive of Berkshire Hathaway a world-leading financial expert

"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…I hope Bitcoin becomes a better way of doing it. I would advice people to stay away from it. It’s a mirage, basically"

Ray Dalio: Founder of Bridgewater Associates, the world’s largest hedge fund

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

Bill Gates:  Founder of Microsoft

"Bitcoin is a techno tour de force." 

Tyler Winklevoss:  Co-creator of Facebook

“Bitcoin is where you can elect to put our money and faith in a mathematical framework that is free of politics and human error.”

Rick Falkvinge:  Founder of the Swedish pirate party

"Bitcoin will do to banks what email did to the postal industry"

Sir Richard Branson: Founder of Virgin Records and Virgin Galactic

"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."

Written by: Poppy Skinner

Poppy covers a wide range of topics at Billionaire, having spent the past 13 years at companies including Singapore Tatler, Her World Plus and Harpers Bazaar UK. She has a passion for fashion, jewellery and travel as well as an avaricious fascination with crime novels. Follow her at poppypskinner on Instagram.