What does Elon Musk really think about crypto? What about Jack Dorsey? Gary Vee? Janet Yellen? 🤔 TheCoinPope1 takes us through some of the funniest, weirdest, and smartest quotes in the crypto space 👇
Join us in showcasing the cryptocurrency revolution, one newsletter at a time. Subscribe now to get daily news and market updates right to your inbox, along with our millions of other subscribers — what are you waiting for?Warren Buffet.Ø “[…] probably rat poison squared.”
That is at least a consistent position. Mr. Buffet is simply not comfortable with the technology and doesn’t really understand it, so he won’t invest in crypto. But is there any utility whatsoever to crypto?Ø “They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem.
The good ol’ Bitcoin is for criminals FUD. Every serious crypto investor by now knows that the share of Bitcoin used for illicit transactions is lower than that of cash. But that won’t stop people like Ms. Yellen trumpeting the same old messages. She also said the following about Bitcoin.Ø “It is not a stable store of value and it doesn’t constitute legal tender. It is a highly speculative asset.
Where and why Gary Vee developed this affection is unknown to the author of this article. But he has made it abundantly clear that he thinks NFTs are the shiz.Ø "We are living more and more increasingly in a digital landscape, and NFTs become assets to communicate who you are. And that's something human beings have done forever — bought things to communicate. And NFTs will be the scaled version of that.
Mr. Dalio has also commented on Bitcoin slowly seeping into the financial system. He is conscious of different policy approaches to Bitcoin.Ø “You have El Salvador taking it on and you have India and China getting rid of it. And you have the United States talking about how to regulate it and it could still be controlled,”
While Mr. Cuban sees Bitcoin as a legitimate store of value, he doesn’t quite foresee hyperbitcoinization like some others. However, he is well aware of the opportunity costs of not understanding blockchain technology.Ø “Not understanding blockchain, it’s going to smack you down and make you bleed.” There is some truth to that. Investing in cryptocurrencies is open to anyone, whereas investing in traditional finance can come with racial discrimination or simply not be open to regular investors because of regulation. But Mr. Palihapitiya went even farther than that when he talked about how cryptocurrencies influence the current monetary system.Ø “This is now a confidence game. There is no real utility in this.
We went from “venereal disease” to “most pristine asset.” That just goes to show that investing is an art and not a science. Mr. Pal also gave a very confident price prediction for the crypto market.Ø “I take a look at the entire derivatives market, it’s $1 quadrillion.
The most interesting — and iconic — Elon quotes are not about Bitcoin, regulation, or policy. They are, of course, about Dogecoin:Ø “I find that often times the most ironic and entertaining outcome is the most likely. And the most entertaining outcome would be Dogecoin becoming the global new earth currency.”
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