Bitcoin: What big names are saying

How to buy in addition to also also sell Bitcoin

Bitcoin’s stunning rise was one of the big stories of 2017, in addition to also also the idea’s set to divide opinions further This specific year.

The digital currency’s cost soared more than 1,300% last year, easily outgunning the returns through many traditional financial assets like stocks, bonds in addition to also also gold.

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although while bitcoin has gained greater mainstream acceptance in recent months, the idea still includes a lot of critics. They warn about issues like its volatile cost, absence of underlying assets in addition to also also lack of regulation.

Related: What is actually bitcoin?

Here are some of the most memorable quotes through high-profile figures inside the financial world:

THE FANS

Peter Thiel: ‘Great potential’

“If bitcoin ends up being the cyber equivalent of gold, the idea includes a great potential left,” billionaire tech investor Peter Thiel said at an investment conference in October.

Thiel, an early investor in Facebook (FB), said he thinks people were “maybe underestimating” bitcoin. “the idea’s just a store of value, you don’t actually need to use the idea to make payments,” he said.

Related: I bought $250 in bitcoin: Here’s what I learned

Cameron Winklevoss: ‘A multitrillion-dollar asset’

“Long-term, directionally, the idea is actually a multitrillion-dollar asset,” Cameron Winklevoss, who founded bitcoin exchange Gemini with his twin brother Tyler, said in December.

The brothers, who settled with Facebook CEO Mark Zuckerberg over their legal challenge accusing him of stealing the idea for the common social network, became the planet’s first bitcoin billionaires in 2017.

Related: Bitcoin boom may be a disaster for the environment

Tim Draper: ‘The greatest technology since the internet’

“This specific is actually the greatest technology since the internet. This specific is actually a sociological transformation, the idea’s a movement,” Silicon Valley venture capitalist Tim Draper said in November.

Draper has previously backed the likes of Tesla (TSLA) in addition to also also Skype. He invested in bitcoin three years ago, buying thousands of the virtual coins, which are currently worth more than $13,000 each.

is actually Blockchain's CEO throwing shade at Jamie Dimon?

THE SKEPTICS

Jamie Dimon: ‘If you’re stupid enough to buy the idea …’

“If you’re stupid enough to buy the idea, you’ll pay the cost for the idea one day,” Jamie Dimon, CEO of JPMorgan Chase (JPM), said in October, predicting governments might eventually “crush the idea.”

Dimon has been a frequent critic of bitcoin’s ascent. He’d previously dismissed the idea as a “fraud” in addition to also also threatened to fire any of his bankers who trade the idea — although he has admitted his daughter owns some.

Related: South Korea is actually trying to cool its red-hot bitcoin market

Janet Yellen: ‘the idea is actually a highly speculative asset’

“the idea is actually not a stable source of value in addition to also also the idea does not constitute legal tender. the idea is actually a highly speculative asset,” Janet Yellen, the chair of the Federal Reserve, said last month.

although she played down concerns about a bitcoin bubble leading to a full-blown financial crisis, saying the idea posed only “limited” risks.

Bitcoin attacks fuel traders' frustrations

Warren Buffett: ‘A real bubble’

“You can’t value bitcoin because the idea’s not a value-producing asset,” renowned investor Warren Buffett said in October. He added in which its unpredictable cost makes the idea a “real bubble in in which sort of thing.”

The Berkshire Hathaway (BRKA) CEO is actually a long-term skeptic. He labeled the digital currency a “mirage” back in 2014, when its cost was a little over $0.

Related: Looking to sell bitcoin? the idea’s complicated

Lloyd Blankfein: ‘A vehicle to perpetrate fraud’

“Something in which moves 20% [overnight] does not feel like a currency. the idea is actually a vehicle to perpetrate fraud,” Goldman Sachs CEO Lloyd Blankfein said in November.

He said Goldman (GS) didn’t have a bitcoin strategy at in which point. although he did leave the door open for the bank to trade the digital currency inside the future if the idea becomes less volatile.

Related: Hackers take advantage of bitcoin’s wild ride

Joseph Stiglitz: the idea ‘ought to be outlawed’

“Bitcoin is actually successful only because of its potential for circumvention. the idea doesn’t serve any socially useful function,” Nobel laureate Joseph Stiglitz said in November.

The former World Bank chief economist warned in which bitcoin “ought to be outlawed.”

sy88pgw (Hong Kong) First published January 2, 2018: 5:19 AM ET


Bitcoin: What big names are saying

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