Cryptocurrencies have been around for more than a decade now. When it first knocked on our doors, most people were clueless but here we are with multiple cryptocurrency options, experts investing and advocating about it, and people trying to understand more and more about the market too.
We have seen erratic changes in the cryptocurrency market throughout the years and we are also standing at the point where the market is dipping low. A lot has happened in the cryptocurrency market since the beginning of 2022 and investors are losing hope in cryptocurrency. We cannot be a hundred percent sure about what lies ahead for the cryptocurrency market but words from personalities who people widely believe in allow you to finally be a judge of what you want to do.
Here are some quotes by well-known personalities that will help investors gain more perspective about cryptocurrencies and the market in general. These quotes range from legendary investors like Warren Buffett to Satoshi Nakamoto, the person who is presumed to be the creator of Bitcoins.
1. “PayPal had the goal of creating a new currency. We failed at that, and we just created a new payment system. I think Bitcoin has succeeded on the level of a new currency, but the payment system is somewhat lacking. It’s very hard to use, and that’s the big challenge on the Bitcoin side. – Peter Thiel, Co-Founder of PayPal
2. “Bitcoin is a technological tour de force.” – Bill Gates, Founder of Microsoft
3. “It’s a fraud” and “worse than tulip bulbs” – Jamie Dimon, CEO of JP Morgan
4. “If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.” – Satoshi Nakamoto
5. “We have elected to put our money and faith in a mathematical framework that is free of politics and human error” – Tyler Winklevoss, CEO of Gemini Cryptocurrency Exchange
6. “Stay away from it. It’s a mirage, basically. In terms of cryptocurrencies, generally, I can say almost with certainty that they will come to a bad ending.” – Warren Buffett, CEO of Berkshire Hathaway
7. “(Bitcoin) is a remarkable cryptographic achievement… The ability to create something which is not duplicable in the digital world has enormous value… Lots of people will build businesses on top of that.” – Eric Schmidt, former CEO of Google
8. “The Federal Reserve simply does not have authority to supervise or regulate Bitcoin in any way.” – Janet Yellen, former Chair of the US Federal Reserve
9. “Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.” – Vitalik Buterin, Co-Founder of Ethereum
10. “Bitcoin’s structure is very ingenious. The paper money disappears, and crypto-currencies are a much better way to transfer values than a piece of paper, that’s for sure.” – Elon Musk, CEO of Tesla
11. “I see Bitcoin as ultimately becoming a reserve currency for banks, playing much the same role as gold did in the early days of banking. Banks could issue digital cash with greater anonymity and lighter weight, more efficient transactions.” – Hal Finney, Software Developer
These quotes about cryptocurrency have been said by famous personalities from the tech or finance field. While some of them believe that cryptocurrencies are going to be revolutionizing and form the first global currency of the world, others are skeptical about it. It is natural for some people to raise concerns about a currency being formed that doesn’t have the government involved anyway. Nevertheless, people have started investing in cryptocurrencies and will continue to do so.
The cryptocurrency quotes will only help crypto investors to gain some perspective on the opinion that industry experts have formed about crypto. Cryptocurrencies are still not wholly accepted and although some people anticipate them to grow into virtual money that will eliminate the need to carry paper money, others think that it’s a mirage. Some crypto experts also feel that it has huge potential in the future and that it should not be judged by where it stands today.