There are two sides to every coin, most especially with Bitcoin. Since its inception in 2008, the community has never lost the buzz surrounding it, whether it be positive or negative. Let us take a look at some of the biggest proponents and those on the opposing sides and where they these innovators think the whole industry is headed:
Hailing from Silicon Valley, it is normal for Tim Draper to be in the know of the best investment opportunities in the technology space. Venture capitalists should know the pulse of opportunity and Draper sees this in the Bitcoin community. He is known to have continued seeking growth in tech startups and facilitating educational reform in every industry and company he’s invested in.
Richman is part of the growing number of billionaires who value their privacy, he is known for investment acumen as he manages the wealth of his fellow ultra high net worth (UHNWI) clients investing in diversified investments ranging from real estate, private equities, commodities, bonds. The billionaire has most recently been rumored to have increased his holdings in cryptocurrencies as a result of the growing demand from his wealth clients.
The Winklevoss twins gained popularity when they challenged one of the internet giants, Facebook. But more than that, they are well-known as the biggest Bitcoin proponents and billionaires. The Winklevoss brothers have cemented their place in the industry of crypto exchange, with their brainchild, Gemini in the forefront.
Going against Bitcoin comes naturally for Jamie Dimon because for him, it is all a bunch of fraud. As the CEO of JP Morgan Chase, it’s just as natural for him to diss the technology that may turn banks obsolete. He does not think that it should be treated as a legitimate currency. Simply put, Jamie thinks that it is not going to work. But it is interesting to note that he has said in an interview that, “Blockchain is real.”
The CEO of PayPal and Intuit professes his bearish point-of-view on Bitcoin, calling it “the greatest scam in history”. Harris says that Bitcoin is void of any value and he strongly warns people that it is just a scheme used to dupe people. Harris does not believe in the merits that Bitcoin gives to people because of the irregular payment processing methods.
Charles Munger will push for the eradication of Bitcoin if he can. He describes the cryptocurrency as, “Disgusting. Bitcoin is noxious poison.” The billionaire and vice chairman of Berkshire Hathaway would much rather steer clear from Bitcoin and the incompetence it seems to reek of. As a legend in his own right, Munger is very much against the whole of Bitcoin stands for.
With limited supply of 21 million, many people finding potential in the Bitcoin system, it is bound to stay for a long time. However, as some entrepreneurs have said, they would rather see it gone. Whether you are for or against Bitcoin, it will help you think by learning from the business moguls and investors.