Top 5 Bitcoin Critics And Where Do They Stand Today?

By Rushali Shome

Bitcoin has the world divided into believers and skeptics. Even as proponents and staunch supporters like the Winklevoss Brothers, Brian Armstrong and John McAfee pledge their support for Bitcoin and cryptocurrencies that followed, some heavyweights in the finance, investment and technology sectors are quite anti-Bitcoin. Today, we take a look at 5 Bitcoin critics and where they stand today.

Warren Buffet

If you have ever wondered “what does Warren Buffet think of Bitcoin?“, you can rest assured that the answer will not be a very positive one. This billionaire who frequently finds his name towards the top of rich lists clearly is an experienced investor.

He has clearly not made his fortune without knowing a thing or two about finance works. However, if you do go with his opinion and understanding of Bitcoin, you will stay far far away from it. Blaming its unregulated status, its instability and the bubble-like hype around it, this top boss of the Berkshire Hathaway group has made his opinion about quite openly known.

He has gone on record to say he would rather buy rat poison than Bitcoin and there could hardly be a stronger statement than that. As of now, his opinion remains the same.

Nouriel Roubini

Nouriel Roubini, an economist par excellence, has also dissed Bitcoin and other cryptocurrencies, saying that trading on these constitute a “big manipulative fraud”.

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Dismissing the opinion of this critic is not easy as he is the one who had been able to predict the 2008 crash. However, his anti-crypto stance has been quite vocal and vehement, as he thinks it is a great scam. His opinion, like Buffet’s, also has not changed.

Joseph Stiglitz

This is another economist of repute who really does not like Bitcoin. In fact, he has gone on record to suggest that Bitcoin should be outlawed.

He is of the opinion that the moment regulation is introduced into the world of Bitcoin, it will collapse and disappear without much of a trace.

Bill Gates

For most 90s kids, Bill Gates is practically synonymous with wealth and success.

Therefore, when he criticizes some form of asset or security, it is indeed a cause for concern. Now Bill Gates has praised blockchain technology in glowing terms but when it comes to Bitcoin, he has called it “a pure “greater fool theory” type of investment”.

He has also said Bitcoin is not easy enough to short for him to invest in it. Till date, he has not gone back on these words and still seems to be skeptical about Bitcoin.

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Robert Shiller

Shiller is a Nobel laureate economist which obviously gives him a great deal of credibility in terms of opining about Bitcoin and investments.

He has said that Bitcoin seems like a bubble. In fact he has even said Bitcoin is likely to get extinct in about 100 years.

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Rushali Shome

Rushali Shome is a history undergraduate with a keen interest in puns, politics and beyond. When not typing away furiously in the “Notes” section of her phone, she can be found trying to catch the eye of servers at restaurants or weddings for a second helping.

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