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Boom or Bust? Here’s what CEO’s think of Cryptocurrencies

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CEO’s are smart, educated and extremely successful people. They are responsible for thousands of jobs and billions of dollars. But, what do they know and think about cryptocurrencies? Here’s a selection of quotes illustrating some of their thoughts:

Perhaps the most (in)famous CEO to comment is JPMorgan’s Jamie Dimon, who said recently:

  • “It’s a fraud”
  • “bitcoin is not a real thing and it’s solely speculative and that there’s no need for it in the U.S.” 
  • “Bitcoin will eventually blow up. It’s a fraud. It’s worse than tulip bulbs and won’t end well

Morgan Stanley CEO James Gorman, late September:

“I haven’t invested in it. I’ve talked to a lot of people who have. It’s obviously highly speculative but it’s not something that’s inherently bad. It’s a natural consequence of the whole blockchain technology.”

Warren Buffet of Berkshire Hathaway, back in 2014 said:

“Stay away from it. It’s a mirage, basically. 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. Are checks worth a whole lot of money? Just because they can transmit money?”

Blackrock CEO Larry Fink, 3 October:

“I am a big believer in the potential in what cryptocurrencies can do.”

Ray Dalio, Bridgewater Associates:

  • “Bitcoin is a highly speculative market,”
  • “Bitcoin is a bubble.”

Fidelity Investments CEO Abigail Johnson:

  • “I like to think that huge new markets and products will be built on these platforms,”
  • “But before that can happen, we need to address the barriers there are to adoption — and there are several.”

 

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