Bitcoin Forum

Some wealthy people have expressed their disdain towards Bitcoin. They believe Bitcoin is a scam or Ponzi scheme backed by nothing. Figures like Warren Buffet, and even Donald Trump himself believe Bitcoin is a sham. I'm surprised to see this, since Bitcoin brings many profit opportunities to its "hodlers". For some reason, millionaires (or billionaires) hate Bitcoin. They usually support Gold and Fiat, not wanting to try something new like crypto/Blockchain tech. Justin Sun tried to convince Warren Buffet to get into crypto a while ago, only to find that his efforts were in vain.

Thoughts? ???

1. Warren Buffett doesn't understand technology
2. Donald Trump clearly said that Bitcoin is a risk to the USD
3. A lot of rich people(or people in general that aren't poor) think Bitcoin is unnecessary because they're privileged. They think Bitcoin is unnecessary because they're and their country is doing fine (at least as of now); completely ignoring other people living in communist and far more corrupt countries.

I'm just a simple speculation as someone who doesn't have any important role in my community. to me the reason that they hate Bitcoin, is because they don't want other people like ordinary people to have the opportunity to become millionaires in the simple step of owning Bitcoin. hasn't it been proven that since the existence of Bitcoin many new millions have sprung up and it has threatened their position as the richest people.

maybe the reasons I say can't be agreed, but for me Bitcoin has given a new atmosphere in our finances until now.

This is really not it. It's not like retail investors getting rich would make the current millionaires any less rich. If anything, rich people(who are most definitely business owners, regardless if direct business owners or just public shareholders), would far prefer other people to earn more money as to potentially increase revenue on their businesses. The last thing you'd want as a business owner is people getting poor.

It's obvious, bitcoin is the next big thing, the digital gold for this decade so most of the millionaires doesn't have the knowledge on how to make money out of the bitcoin market. They are still in the old and traditional way of investing in stocks with small risk. Unlike in bitcoin wherein there is so much volatility that these old investors are not used to, so they would rather put their money on safe haven like gold and then hate bitcoin itself.

I think those wealthy people doesn't want to see other people that also become rich through bitcoin that's why they hate bitcoin but I don't think that they didn't invest in bitcoin because many Billionaires and millionaires are also bitcoin investors. Another reason that I think why they hate bitcoin, maybe they lost huge amount of money by wrong investment in cryptocurrency. Also, Cryptocurrency has no backing entity, and no certainty unlike in gold and real asset which I think also the reasons why millionaires dislike bitcoin.

Probably because it gives financial freedom to the people which is problematic for some millionaires because they rely on people depending on them so bitcoin essentially takes away that dependence which in turn makes for low sales for the millionaires which is bad for the business.

When we're talking about actual investors and venture capitalists, then that's an easy no. If anything, they're actually the ones dumping on the altcoin investors lol. Those people actually gets access to certain coins and tokens even before they undergo the ICO process; which is mostly a far far cheaper price.

Some millionaires hate bitcoin because its a decentralized coin, and they hate things where they can't have full control. Another fact they hate is the high volatility, Is nice when that volatility brings huge profit, but is a big pain if the coin price drops and the investment was huge.

Another reason for them to hate is because a lot of people recommend them to invest in bitcoin and they never believe in the now, and now when they see how high it comes then that means they lose the best opportunity of their lives to make tons of money.

Being millionaire doesn't necessarily mean somebody is smart, understand tech and want common good.
Many are too old to understand Bitcoin.
Many have businesses related to banking system or gold, hence they'll be against Bitcoin.
Many trust kinda blindly on what other rich people (usually tied to central banks) told them.

Bitcoin markets are unregulated or poorly regulated and many will either fear that, either come against that.
Bitcoin is pretty easy to steal if somebody doesn't have the patience to learn about how to keep it safely.
Bitcoin allows tax evasion, allows hiding dirty money and so on.
Bitcoin is not perfect and some of these guys will not accept anything less perfect (as they understand that) than the banking system they already know and trust.

But don't worry. All these problems are temporary. We just need to go on. More and more people find the benefits of Bitcoin by every day passing by.

I don't know why some millionaires hate bananas or oranges but most of them are old skeletons who think they know everything best, they are stubborn, corrupted
and they made most of their wealth with fiat system so they don't want to change that system.
There are probably more reasons for this but many of them like Trump probably thinks that Bitcoin is a scam currency that is competing with us dollar.
They can't have full control over Bitcoin (even if they can affect Bitcoin price), and rich people want to control everything, just like Rockefeller's favorite phrase say: Own Nothing, But Control Everything.

maybe their business sector is getting quieter because many investors are starting to see Bitcoin as one of the great potentials that will provide greater guarantees. Apart from that, for me, Trump just joined in to stoke the atmosphere, because he almost drowned in some media. and he knew the potential of Bitcoin was being talked about so he tried to poke Bitcoin into the limelight. We all know that after Biden's inauguration, Trump was not widely exposed in the international media.
As for Warren Buffet, it was clear he was anti-Bitcoin from the start.

Few of the reasons I can think of :
1. They do not want people to become rich suddenly, Bitcoins is mainly redistributing the wealth in the whole world and that's why some people are very happy but many are sad too. Which is absurd, finally something that is making the economic gap smaller
2. Some of the millionaires woked hard for every penny and worked on their slow and stable Investments so no billionaires think it's crazy to take such risk, plus for them investing in gold and land is the only thing that might work. Mainly people who are older have such thoughts and at the end they influence the whole public by such things, but they should understand that no one has such money to start our with, with BTC you can even invest 1$!! There is no limits, no caps !

They might not like the idea of decentralized money; they have been in a business for so long, they circulate people's investments for profit.
Imagine people actually owning their money and not the banks; that's a huge threat to them.

That's exactly what I say because for him, the concept of this Blockchain technology is not easy for him to understand and it seems he has this principle of "to see is to believe", we know Bitcoin was working through code and algorithm and backed with math principles, it means it's a fully digital currency and thinks that this Bitcoin was an unproductive asset not like stocks considering its a productive asset.

In other rich people's minds, they only invest what they know.  Because they think that volatility + risk is disagreeable for them to put and trust their money.  They're surrounded by the hype and that's probably they afraid to invest in Bitcoin and thinking that it's easy to manipulate the price.

But who knows, they secretly invested in Bitcoin without knowing the public.

The elite don’t want anybody raining down on their parade. It’s a closed shop, they don’t want the poor making money. Bitcoin takes the power away from them but there’s nothing they can do about it. Keep stacking those sats.

I remember Donald Trump stating that bitcoin is a threat to USD and its current state, so there's that. He believes that bitcoin is just a sham and asks people to stay away from it because it is and will never be better than the USD on many things. Whereas Warren Buffett already built his empire before the advent of technology, and believes that anything existing within the digital realm is just a fad that will eventually go away. Things with value must be tangible, and Buffett cannot wrap his head around valuation stemming from the fact that people simply believe something is worth anything at all, even if it only exists digitally.

I second that said by mk4 in the first reply. My thought is there is a lack of knowledge about cryptocurrency how it works and that's why a few millionaires or Billionaires don't like cryptocurrency and consider as Ponzi. If they know the technology behind cryptocurrency then it shouldn't call as a Ponzi Scheme at all. On the other hand, most millionaires are involved with the centralized organization from where they are making millions, so they don't want to move in a decentralized currency where they can't keep role themselves to manipulate or making money. They know Bitcoin would be a good investment, but they don't have faith in it. Because many people become a millionaire from cryptocurrency, so it's open for all and aware of it. Nothing secret in a decentralized cryptocurrency.

I believe they do, but even if they don't, why does it matter? Haven't they read how Bitcoin works theoretically? I think it's pretty obvious that they hate it, because Bitcoin is not towards their willings. In other words, it's an obstacle to them from making more fiat. They have to either play by the rules or accept its future and the damage it'll bring to fiat.

You should see it otherwise. Right now there are two types of billionaires; the obsessed ones with Bitcoin and the ones that hate it. The first ones play by the rules while the second, just hate its existence.

People from government, as Donald Trump, hate Bitcoin because it can limit their monetary police influence.

Rich people don't like Bitcoin becuase they don't understand it, and that's why they distrust bitcoin and its exponential growth.

Millionaires are people too, they can have their own opinions. There's no single reasons why some millionaires hate Bitcoin just because they are millionaires. Think about all the reasons why someone might hate Bitcoin - enviromental FUD, worrying for fiat system, devotion to gold and stocks, etc. - this all can apply to a person regardless of their social status.

they are fair to say that because they already have the privilege and no longer need bitcoin because their money is already abundant.
besides that I've read in one article where there is a statement from donald trump which says that bitcoin can be a risk to usd so that's why he doesn't like it.
for those who already have abundant wealth, there is no need to need bitcoin

My personal opinion maybe have 2 reason, they already have their assets like fiat, stocks or maybe anything else that can be threaten if people change their investment to bitcoin, or maybe they see bitcoin price can be increased after dump happen, they already hold or want to buy in cheaper price, only them who know about it. But it is not enough to make bitcoin dumped a lot like when it is started.

maybe also they are jealous to those who managed to earned big from this industry, they don't want to take the risk but instead they are criticizing this venue of investment.

Rich people like them already have it all, and they have their own principles and already have their own venue of investment, why bother taking their call right? there's nothing good that will come out from their opinion, let them think whatever they want.

Don't be bothered as this venue of investment open its door to every believers that will take their steps. Keep it up!

Do you really think that they do hate out Bitcoin honestly? You wouldnt know that out of those negative words spit out into their mouth I wont be surprised if they are actually accumulating behind the curtains.
No one can really prove out that they do really hate it up neither those are true intentions or just simply some show off to make look themselves that they do actually hate it.
Really hard to believe on what these big whales or popular person been saying because every action would have corresponding intention attached to it.

I think it's envy.
These wealthy want to be among themselves and not lose power, but control even more. Social media also makes a big contribution, especially with millionaires. It's not directly about money, but definitely about power.

because they don't understand Bitcoin that's why they hate it...

those who hate Bitcoin will definitely not like decentralization and transparency. for example warren buffet, actually the reason he hates Bitcoin is really unclear until now, if he connects Bitcoin with a Ponzi scheme then how does he explain how stocks work!

Lol, millionaires even if they have "abundant" money, they will always want to make more. They use their money to make more money. Maybe they show that they hate bitcoin, but they actually don't? They spread FUDs so that the market tanks and then they can buy at the dip and make more profit when the price rises. After all, its easy for them to take such kind of risks!
Lol, why even bother listening to this dumb ass?

Well, just a simple word to answer this question.
Just because they don't know what is Blockchain and how bitcoin will work, they always believe in physical investments like stock or gold because they can able to monitor it by its physical information such as include the value. But we should not generalize this question, because there are other millionaires who believe in bitcoin and investing in it despite knowing that they are lack knowledge of it.
Perhaps, --the decentralized nature of all cryptocurrencies is the most major reason why rich people avoided this kind of investment and it could be they heard a lot of criticism.

Donald Trump hates Bitcoin because he thinks that Bitcoin has the potential to damage US dollar. If he was the president right now, I'm very sure that he would even impose a ban on cryptocurrencies like Chinese government has done already.  ;D

They lack understanding of bitcoin.
That's true, he sees that bitcoin is a threat to USD and thinks that it will eventually destroy not just the US markets but as well as it's economy. But he doesn't understand it, instead, bitcoin will eventually help people to avoid inflation from the USD.

They don't want to join Bitcoin, but they are afraid that if people get rich because of bitcoin, some of them also don't know about technology. For a trump he fears Bitcoin will go big and affect the value of the usd. However, no matter how much they hate bitcoin, they can't prohibit the existence of bitcoin at this time

Maybe it relates to a personal feeling. In fact, many Millionaires also like Bitcoin, BTC can really make high profits to earn money, a worthy investment, and a promising future. However, some of them don't show up about their likes of Bitcoin, maybe because of some reasons.
however, if somebody doesn't like BTC itself, maybe because he doesn't like the system and the decentralization. Or maybe he is feeling that he has more competitors as a millionaire?
 ??? ;D

Decentralization is still seeming scary for many people. Some millionaires are also in this group of people. They are too adhered to the traditional money that they don't even want to see the new technologies and the future.

There are many reasons why millionaires hate Bitcoin, one of which may be because some millionaires support the banking system. So with Bitcoin
being decentralized and considered a threat to the banking system, made some millionaires hate Bitcoin and spread negativity about Bitcoin.
Actually in this world it is impossible to make everyone like Bitcoin, because we really have to admit there will always be Bitcoin haters popping up.
And everyone is free to choose to be a Bitcoin supporter or a Bitcoin hater, because there should be no coercion everyone has to like Bitcoin.

Bitcoin is the great economic equalizer no one expected... anytime there is an economic equalizing force, all the powers that already be, will be against it... this is because the powers that be got their wealth and power at the expense of most.

It's not about wealthy people, it's rather about people in general. Many people are prejudice about Bitcoin and other cryptocurrencies, we just don't know and hear about that, because they're not public figures.
Also, you should consider political and business-related aspects. So for Trump as a president, the spread of Bitcoin wasn't something desired, obviously, because it questions the whole fiat system, and Warren Buffett deals with something much more old story: banks, insurances, it's not surprising he's not willing to go for something so novel and cutting-edge as crypto.

Maybe it's probably because they don't understand about bitcoin yet, and only know it as something intangible that is really volatile and able to produce many new millionaires. Those millionaires usually earned their money through hard work, and because of that they don't accept things like easy money, and for some people bitcoin is easy money, you just need to be patient, keep holding and gain a lot of profits.
But well, it's okay although they don't support bitcoin, as long as they don't do bad things or harm bitcoin names, i guess they are fine.

The more they are going to hate BTC when the price goes up more and countries adopt it just like El Salvador. But these millionaires are the ones who can disregard the Bitcoin economy. 


Not understanding Bitcoin is not the reason to hate. But I think because they seem to be too late to get into Bitcoin. If they could turn back the time when the price is very affordable, they will do it. Unfortunately, they can't and they are going to be forced to buy at a high rate if they will. It makes them irrelevant in terms of finance in the coming years.

Maybe those millionaires thought they know about everything specially investing. And since BTC is very volatile, they obviously don't like it. On the contrary, there are people, early bagholders of BTC who become millionaire as well. So every argument you hear about millionaires or even anti-bitcoiners have flaw because BTC has shows that many individual can get rich thru BTC.

Millionaires are businessman , so they are always business minded people.
The only thing they think is how to make more and more money.
Hating Bitcoin is one of their strategy to make more money. I can cite the example of Elon Musk.
For his own profit, he became the Godfather of Dogecoin, and shared negative comments regarding BTC.
For this the price of DOGE increased(which he wanted) and BTC fell down.
Many other Businessmen, don’t understand how the crypto works, for which they don’t give damn care to the coin.
Hope this helps you better to understand OP.

Not only rich people, basically everyone's views will certainly be different and it may depend on what they experience. Well, after all that's not the end of most people's assessment of bitcoin, there are still many who believe and other evidence that will really prove that the crypto world is not as bad as they think, there is still a positive side that can lead many people's beliefs.

I have also on my mind that they just hate it in public, like on some interviews with asking them what are their thoughts or opinion with Bitcoin and they ended up telling negative things on Bitcoin or not favor it, maybe they are just trying to create FUD and price of Bitcoin could dump and they can load their bags.

Becoming someone who had a million bucks was a really big deal back then. Before one could get and own such an amount, he or she must have put in a lot of work, sometimes office hours to be able to realise such, but times have changed. Someone can easily make a million bucks from even the comfort of his home because of digital currency and trading it. This idea and concept has not sat well with many old tine millionaires who maybe hold the believe that Bitcoin and  other crypto currencies have made the millionaire status too easy to attain for the younger generation.

Those who insult Bitcoin certainly have their reasons. In my opinion, the most logical reason is that the wealth they get has absolutely nothing to do with Crypto, they are very comfortable with what they have, they don't want to be disturbed by their efforts in collecting their coffers of wealth and that's why they see bitcoin as threats that could prevent them from accumulating even more wealth.

They see bitcoin in terms of investing in traditional and old-fashioned goods. even though crypto is similar but not the same. it is not wrong that they have such tought like that. just like computers in the early 90's many people don't care and underestimate digital thing and computer but now everything is done with digital and computers. I think the future in bitcoin and crypto also will be like that.

Cryptocurrency network or industry people understand it differently, And most times some rich people don't comprehend how Bitcoin in particular be regulated and i think that should be one of the major fear while they are against Bitcoin, But from my perspective it's an average person that like to establish or invest via cryptocurrency because they assume that cryptocurrency investment is valid.

While the rich people concept towards cryptocubutrrency especially Bitcoin is that Bitcoin is avenue or opportunity for them to be scammed, so comparing this scenario, it's a quite different from average person understanding or mentality towards Bitcoin and the rich person, i may likely say that rich people and some part of countries government is against cryptocurrency because they feel that Bitcoin is decentralized, And ask them while they dislike cryptocurrency, the answer will not be positive while? They prefer centralized business and Bitcoin is difficult for them to understand.

I agree with all you point especially number 3. I use to think to myself, why don't those rich guys that have the edge to buy up many Bitcoins when in a bear market and make even bigger profits in Bull usually don't do that? This point makes it more clear to me. Of cause , those that are still struggling and looking for an opportunity to make financial gains will definitely see Bitcoin as the best form of investment but the already rich wouldn't see this.

I don't think that it's traditional and old-fashioned because this is a paradigm shift for investment and they are scared of it, the old millionaires hate bitcoin because they have an old-fashioned investment like stocks, bonds and real estate.

Those millionaires do not like to see other people become millionaires like them, so they hate and spread the news that bitcoin is a scam or Ponzi. But people tend not to care about that and those involved in bitcoin are still trying to make as many bitcoins as possible. We do not know if those millionaires have their agenda to possess many bitcoin because they have a lot of money and they can buy bitcoin at any price. We do not have to listen to what they said and we can still try to make more bitcoin.

They love the old fiat system where they can use their money and manipulate the minds of poor people. Actually, they are more corrupt than the government.

They can't do this to Bitcoin, they can never take advantage of the market which is very unlikely with what they did to fiat.
And aside from a lack of knowledge of crypto, it was also a lack of interest in the new system. To hate to say but it is really hard to change their mind.

I think they have missed the lowest price of bitcoin, so to invest now they are afraid of the risk they are taking, then spread the fud news about bitcoin.
although they are already millionaires by now, but I believe their instincts are against what they say.

Not only him but most of the millionaires or most of the old millionaires don't understand the technology behind it thus, they are just saying negative things to it or at least they will show to the public that they hate Bitcoin.

There are some millionaires that are in partnership with the banks right now and you know the connection between the banks and the crypto :D. One thing more that I'm seeing why they hate is the fact that they don't want average people to become rich or in short, they are selfish which is I think they really are.

When there are some millionaires that are hating it, there are some who are supporting it and we saw many institutions supporting it. The twist here is that there might be some millionaires out there who hate Bitcoin are secretly buying it :D. We don't know though but I believe there are some.

maybe, the simple reason is bitcoin give you more and more profit than haters. hater, give their sweat to work, than paid. they give more idea to develop their job, success with much time. and there are people, just invest in bitcoin on right time, take big profit in short time. it just opinion.
people who dont understand crypto will said that 'you cant make money from this stuff'

It is undeniable that bitcoin has given a new atmosphere in our lives, no matter how good we are, there will definitely be people who hate us, and vice versa, no matter how bad we are there must be those who support us. , as with bitcoin, many people have become rich, and can change the economy of their families, but still there are those who hate bitcoin..

Millionaires are people who have strong ties with banks and governments and with centralized businesses who need political support to make the business flow as it should, Is a carefully controlled system that involves several actors as I said, now imagine that bitcoin enters something decentralized system that allows anyone anonymous to be rich and move money outside the system of the rich? of course the rich wouldn't be happy to see something they can't control, ask yourself; how many people became rich thanks to bitcoin? The answer is easy: no one knows precisely or even guessing. but ask yourself: how many rich people are there in country Z? easily the government of country Z can have access to this answer

Especially old people don't understand Bitcoin and they are afraid of it. Some old millionaires are also one of those people. They wouldn't like their investments into fiat devaluate because of Bitcoin also.

Technology is what hinders them or makes them think twice. Unlike paper money which is used obviously globally, it opens doors for serious risks, scamming, and other potential dangers that could harm the economy of a nation. They stick to the classic or fundamentals. It is just like when Mark Zuckerburg of Facebook was questioned in court by some "boomer" authorities and threw some newbie questions about how the system of advertisements and privacy in Facebook works. Bitcoin or any other digital cryptocurrency could be seen as a posed threat to economical currencies like US dollars, mainly.

Maybe those people don't understand the value of Bitcoin or people are too rich and don't care about it, but today Bitcoin is proving more and more valuable so in the near future it is very likely that the Millionaires will see Bitcoin as a reliable investment.

why billionaires hate bitcoin, the answer Maybe billionaires are too close to the government, and all the projects they will do are always supported by the government, sometimes there are also big projects that are directly given by the government to billionaires, so you could say some millionaires have to submit to the government.

They don't hate bitcoin unless if they gained enough profits on it because for sure negative news will be the next move for them.. Like what elon's technique wherein at first mostly were good news but soon after gaining good profits on it he will make tweets about negative side of bitcoin and etc just to manipulate the growth rate..lol  this is actually a very obvious technique of those billioner and sad to say a bunch of ppl always shaking when it comes negative views especially if it came from some billionaires out there..

Usually people hate something out of jealousy or dislike perhaps that the development of BTC has probably affected the things around them, or it has grown so much that other values are overshadowed. , because of that there will be a lot of Bitcoin hate.

I think there are many reasons that they decide to talk badly about it. Some like Warren Buffett send mixed messages - throughout his whole investing career he has repeatedly stayed clear of technology stocks and has admitted that he should have invested in many companies in that sector. He might want to help people avoid losing their money in a highly volatile asset like Bitcoin which comes from a good place, but it's hard to judge the opinion of a self proclaimed technophobe. Trump is another story entirely and will bend whichever way the wind blows if he thought he could use it to his advantage, if there was money to be made in Bitcoin by easy manipulation which would not interfere with his new found political ambition then he would certainly take that path.

The term millionaire is used to represent a person who have millions worth assets/properties/investment/gold/anything. He have earned those big millions out of different investment. This makes them not to think about bitcoin and sometimes makes statements against bitcoin. There are millionaires who have made statement against bitcoin during its early days as it got much used on illegal needs. Now those people have made big investment on Bitcoin.

I guess it is just all has something to do with control. Maybe these billionaires and elites who disdain Bitcoin and cryptocurrency don't really want investing at something that is volatile and for them easy to lose money at. I think that they were able to become rich through the other avenues like stocks and buying companies and the whole monopoly thing. And also I think they don't want to make a huge gamble or any gamble for that matter at something they think is nonsense. Yes, they think lowly of cryptocurrency.

They hate bitcoin just because bitcoin is more fair than what they have, they think it's unnecessary and they don't need special because they are fully qualified to handle any problem. Just a few, BillGate doesn't hate bitcoin but he is also skeptical. There are things that are not simple but it is really easy. And that may be the mindset of the rich. I don't worry if one day bitcoin makes me a millionaire. Lol

Most of them don't want to deal with the risks of crypto investing regardless of the profit that we could get from it. They only stick to what they believe is profitable such as stocks investment and putting up huge businesses. If there would be a higher demand in crypto and strong competition on it, I'm sure that richer people would switch to it.

We had some reasonable answers earlier like this post (https://bitcointalk.org/index.php?topic=5343254.msg57210255#msg57210255) on why billionaires hate bitcoin. Their proximity to the government may not be a deterrent factor for them to support bitcoin and meanwhile they may not understand about this technology and how it works and also fear the collapse of the USD. After all, bitcoin and this technology have forced them to think harder so far because bitcoin is unstoppable. They are never forced to support bitcoin because maybe one day they will admit that bitcoin innovation is far more useful than fiat.

Everyone has a way to make money and Bitcoin has made many people rich quickly.
The hatred of Bitcoin comes from many points of view. Some people envy the rich from Bitcoin. Some of them don't understand the technology of bitcoin. Some people invest in Bitcoin and lose. Others make their money based on government ties, and they think Bitcoin threatens their government's FIAT currency.

If they can open their mind about the new thing that can give them more profit, such as bitcoin, they will not just do that instead they will try to help traders to make a profit too. But even if they do not do that, the traders will figure out how they can make a profit with the millionaires because they will have their chance to make a big profit. Well, we can not do anything about them because we do not know who they are but we can keep trying to follow their step and get out as soon as we can make a profit.

rich people don't care about bitcoin I think rich people don't keep up with the times if there are rich people who understand bitcoin and they ignore bitcoin, rich people are stupid because basically now bitcoin is the best choice in investing but they ignore it, people are very stupid.

True, nobody dislikes something that can be a vehicle for making money. Hello, no, the only problem this time is that the vehicle can be hard to steer but not entire impossible. The crypto market enables anybody with a hitch for technology and some basic financial understanding to make a nice profit. So, millionaires and billionaires have nothing to fear as long as they ride on with the financial change brought by crypto.

Humans intrinsically resent change. We like to stay in the comfort zone and conserve our energy. You can imagine that Buffett, at his age, has both his energy levels and cognitive ability seriously impaired. That's a biological fact. I'd bet that researching and understanding a new technology is a challenging chore for a young intellectual guy, not even talking about a 90-year old sir. I'm just saying that his opinion should not matter a lot, no matter his experience and results in the investing world.

So you can assume that most millionaire who hate Bitcoin is because they hate change. Bitcoin has the power to disrupt the economy as we know it. This will force all these millionaires to learn new things. Most of them will likely degrade from the position though.

That's the basic principle those people have and you are a fool if you make your decision from them. they know how to manipulate the others so they will not advance to the top and they will stay at the bottom so that the power will remain on those greedy millionaires. every investment opportunity should be studied well by you if you have the means to do so. don't let them decide what to do or not to do with your life. you still have a chance and without their help, you can still make your dreams come true.

In my opinion, more millionaires like BTC than hate it. Founder of Apple, FB, Tesla, Goldman Sachs and others supporting BTC and cryptocurrencies markets. Just like ordinary people, there are people who like and hate BTC. Peoples who hate BTC can be they not buy BTC when price cheap and in that time they dont understand what is BTC and its purpose. And they dont have any idea about future of BTC, so they doubt to invest in crypto and regret when  seeing the price of BTC soar.

It is not difficult to understand why, bitcoin is a game changer, things are never going to be the same after the invention of bitcoin, and those that are at the top hate having to adjust their game as they were doing great already, this means that a bunch of people that were not big players before will become exactly that while old players will have to get in late or they will lose their power, so when you see things like that it is easy to see why they hold such an opinion.

There are some kind of richest people in the world who dosen't like bitcoin here are their confession :

- Donald Trump directly said bitcoin is a scam. The main reason behind is bitcoin is a supper compitate of usd.
- Warren buffet said lots of unwanted things about bitcoin. After hearing his statement. I don't think he has any kind of technological knowledge.

- There are lots of reacher people who saw that because of bitcoin lots of people are investing on bitcoin. Not their company share and for this reason they face a little bit financial problem.

Its my opinion others can be different  thanks.

In my own personal opinion, I think this just are almost applied to those people that hides something i.e. their money are just came from their corruption. I think if the money that they have are in crypto, like bitcoin, it will really be hard for them to commit such correction since transactions on blockchain is public.

And I think, not every millionaires/ rich people doesn't like bitcoin.

Depends how many millions they have. The cryptocurrency market is gaining increasingly higher liquidity. Without a few hundreds millions I don't think someone can generate an impactful move in the markets. Let's remember that Musk is a billionaire and with the help of inflation it's getting easier to get the millionaire status especially in well developed countries.

I think its not a matter of hate, it's a matter of protecting their investments and I believe these are the guys that invest in the real gold bars as a way to store or measure their wealth.

Am certain if some one explained to them how exactly bitcoin works, they would be happy to jump on the bitcoin train without a doubt.

Not all, there are Millionaires who are hiding behind, someone who doesn't care about anything aside from their money, Bitcoin is one the good place to continue earning without any notice,

A luxury that millionaires wanted to enjoy, if there are vocal people who deosn't want bitcoin it's their opinions and that's well respected, even if it's the majorities it won't hurt the industry, as long as there are people who continue supporting and continue investing inside this market.

Some poor people, some middle income people have expressed their disdain towards bitcoin also.  Does that mean all do?  Of course not.  Ditto for "rich" people.   Plenty of rich, middle income, and poor people like the promise of bitcoin.  Plenty of the same don't like it.  It is meaningless to extrapolate from the likes of Buffett to make many conclusions based on his level of wealth.

The reason why is simple:  people have their own areas of expertise and are entrenched in it in many ways.  There were a ton of people in 2009 and 2010 who hated bitcoin, and most of them were tech people who didn't have a deep enough understanding of it to realize the potential.   It has been the same every year since: there are a lot of people who say "tulips", "ponzi" and "scam" and there are plenty of people who understand the benefits and who know that bitcoin has the ability to let people protect their assets from the greedy, grasping hand of politicians of the authoritarian (fascist, socialist, communist etc) stripe.
 
One key point is that many of the people who don't like bitcoin - e.g. Buffett (2 Ts), Soros et al - have a vested interest in the status quo and the ability to have a hidden inflation tax on everyone.  Others (such as Trump) haven't had the benefits properly explained to them and have advisors who don't want to explain the benefits properly.

I mean they have different reasons why they don't trust or just don't like bitcoin, but I just don't believe that this millionaire doesn't even invest a single penny to bitcoin at least they might try it or gamble some for sure.

The profit is high just investing a few million dollars would not hurt for some of these people, all of the business has its own risk so investing in bitcoin or cryptocurrency would make sense but I mean yeah, maybe not.

These millionaires have big businesses that already earn a big amount of profit so maybe they just don't understand bitcoin technology or just don't think that bitcoin has what it takes plus its risk.

Believe me, there are some of these millionaires who have bitcoins but just being irrelevant on a daily basis to feel important in the society. Or perhaps they are simply greedy with the status quo, I would not generalise the same for the poor people who hate BTC as well. It is a double edge sword.

Another wild theory, people who made money and are billionaires are well aware how an economy functions and how their companies are valued and if they see a computer code getting valued they will not accept that and that is the issue with many and these people who are opposing Bitcoin are of the older generation, i cannot find a young billionaire who made money in the technology side of things complain about Bitcoin.

Why do some millionaires hate bitcoin?

Because they are already millionaire.

They live confortable lives, they have everything they need and want at hand. Bitcoin can't guarantee them any benefit they don't already have without it. In some cases it's quite the opposite, since many millionaires profit from the bureaucracy and difficulties other people have to deal in their daily lives. Bitcoin and decentralized crypto in general mayy decrease all these difficulties considerably, so it's normal many wealthy people will be against it. Everyone who belongs to the consolidated system will try to stop or corrupt bitcoin somehow.

We have a different opinion on this, and for me, I guess the reason is they are not aware of the system that bitcoin has, how it will use it and how important it is, they always believe in the stock investments, not on the digital investment that was made by a computer code.

Just like Elon Musk, he rejected bitcoin after all because of the reason that it will harm the ecosystem through the mining of bitcoin, the equipment that used will become a danger to the ozone layer. But I guess, not all millionaires have the same mindset, most of them perhaps can able to afford to invest in bitcoin.

But the question can be made that if they're already millionaire, why they have to step on bitcoin? why they cannot live comfortably without interfering with bitcoin.
The answer is they have an agenda, it's not about being them as millionaires but there's something on bitcoin that could potentially stop them or their businesses.

Yes, like I said above, many of these guys got millionaires by the suffering and exploitation of other people. An example are the banks which charge extreme interest over loans and when it's the opposite, they borrow money and return too little percentage to their customers. Bitcoin becomes a big issue for their money making method's workability, because new investments become accessible for people worldwide, doesn't matter where they are, being possible to earn better interest rates we didn't have access before through our banks and their traditional investments offers.

Behind these banks, governments and mainstream companies there are the millionaires which are mainly affected negatively by bitcoin, so it makes total sense they are going against it.

This is just one example, but there could be more.

rich and influential people, there must be meaning in their statements. whether to support or bring down bitcoin, we will not really know what their intentions and goals are in leading public opinion.
whether this is part of their "game" or not, we'll never know. maybe in public, they are cons, but they have a bag full of bitcoins, who knows?
So don't take this too seriously, don't get stuck in an endless game. focus on the goals of each of us, make the best of the opportunity if you are willing to accept the risk.

that's one of the best replies, as a guy living in very corrupted country, i can really appreciate bitcoin since it helped me a lot, i couldn't have gotten what i have now if there was no bitcoin and no crypto, finding a job is really hard, and if i got lucky and found one, i will get paid like almost just to eat and drink, rich people can not see bitcoin as a useful thing since they don't need it at all.

It was a personal interest, I think. You know, it was a business matter, simply these rich people think that Bitcoin had taken away their profit if that become widely used in the community. They're probably right and it is possible to happen that their businesses will heavily be affected.

Anyway, how'd they know the use of Bitcoin in real life if they don't know about this. Many still become innocent because they don't want to open their minds and their are focusing on their personal benefits.

Millionaires certainly want to protect their wealth from being lost. Therefore he will reject something that he does not understand.
I also believe some millionaires hate Bitcoin, they just don't really understand how Bitcoin works. They must be frightened by negative
rumors about Bitcoin,  then as we know most of the millionaires in the world are old people who find it difficult to accept new things.
So actually the main factor for people who hate Bitcoin, because they don't really know Bitcoin well.

I think they just spread FUD, some of them have the aim of playing the market so that it crashes so they can take the opportunity to buy bitcoin at low prices
we don't know whether they own bitcoin or not, so far we know that there are a lot of big companies in the world that invest in bitcoin.

FUD for them is very important in order to get a cheap price, without FUD the market will stagnate, as well as good news. we as ordinary people better follow the pattern they make in order to get profit ;D

I agree with you on that. They're being stepped on with bitcoin and there's nothing for them to remove the competition unless they're the ones who's going to adopt it.
We can have the perfect example of PayPal.

That's certainly true, mate. It's no secret that most wealthy people rely on banks for everything. They don't see Bitcoin as attractive as Fiat because it's not backed by a reputable entity (in this case, the government and the central bank). Fret not, since millennials will be the ones who will "kick" Bitcoin into high gear. They're usually tech-savvy enough to understand what the revolution is all about. As long as Bitcoin has some loyal supporters behind it, nothing else matters. People are noticing Bitcoin's true benefits relative to Fiat, regardless of what some millionaires (or billionaires) say about it. The old generation will pass out, paving the way for widespread adoption of crypto/Blockchain tech. So with or without millionaires' support, Bitcoin will thrive thanks to its decentralized and censorship-resistance design. Just my thoughts ;D

Those who are saying this is because
. Some of them don't know about the technology or Bitcoin
.. Some of them still consider Bitcoin as premature investment option
... Few hate the fact that how easy a person become millionaire by investing in Bitcoin.
.... Others are watching Bitcoin moves closely and are thinking about Bitcoin as an investment option.

- Millionaires are already traders with a sky of knowledge and strict management of investments, so excuses such as lack of knowledge about bitcoin should be excluded from this case, hitting on jealousy will be what I think about the most when in the past there was not much existence of tools like crypto, people need to strive for many years, sometimes stepping on each other to become millionaires. The new age with bitcoin has broken the pride of years of trying for some millionaires, some disgust is a natural response to unfairness

For millionaires and even billionaires, they totally think bitcoin is a big scam because of the negative rumors that have spread around. They have all the wealth so they should know how to protect them as much as they want and avoiding bitcoin is one of it.

But i believe the main reason why they avoid bitcoin is they don't really know what bitcoin is all about so they don't feel interest investing on it. But for those who have become millionaires lately because of bitcoin, bitcoin is a big thing that would definitely change our way of living and even the standards on it.

For those millionaires who had reached out their status through long time or term investing then they would really be seeing that fast scheme
pace of bitcoin earnings or crypto investment will really be a joke and thats why some of them calling it a scam but sooner or later they would
realized that they had just missed out the opportunity to ride with the bandwagon and tend to regret if lots had already making some serious profits.
Well, they are already wealthy but we cant really changed up on what they do have in mind so let them be.

I am not sure if a millionaire hates Bitcoin because they don't understand Bitcoin and just influenced by the bad rumors. In my opinion, most millionaires are educated people, they must know it. Bitcoin isn't a very new thing in digital investment, it already exists for more than 10 years. Those millionaires must have a certain reason if they are spreading FUDs or state their "hate" to Bitcoin publicly. Maybe it is about the competition of investment business across the field.

I think the rich will definitely enter the crypto market, but they will not announce it to the public. In the Bitcoin field, there will definitely be many wealthy people entering the market. Who thinks he has more money?

I don't know why there is always the tendency to think
that we need them, it started without them. So I don't care as an individual if they keep adding or never do.

On the other hand some who were against bitcoin have changed their opinions and even bought, others of those you name (OP) have so much money and have been ever to traditional investments that they will never change their position.

 this is not true that all the millionaires and billionaires hate bitcoin because as we have seen many big people are supporting bitcoin like bill gate and Jack Dorsey and it may be possible that they have missed Bitcoin at low price so they are not liking it.

They talk badly about what they dont understand. They are both old school investors who favour businesses, bricks and mortar. A millionaire im more inclined to follow is Robert Kiyosaki, his investment starategies are flexible and he is always educating himself and other on current smart money decisions.

rich people who own their bitcoins keep it a secret, that's natural. especially if he works in a government agency, of course they don't admit to investing in bitcoin. I'm sure there are many billionaires hiding their identities in the crypto world.

Maybe because they are more inclined to make money out of things that you can physically see and touch unlike bitcoin that doesn't have any of that besides a code that only a few can understand.

in my opinion, may be some wealthy people have invested on any stock, And They don't interested in Bitcoin And A number of countries still prohibit the use of bitcoin as a means of payment. For example, in China, in the US itself, not many companies accept bitcoin as a means of payment.

yes they also seem to invest a lot there but other than that what they tend to claim they don't like is that some of them have their own interests like donald trump who clearly says he doesn't like btc for threatening the dollar and warren buffet who says he doesn't like it but he himself who are not familiar with technology.
so actually they also have a purpose and don't understand just bitcoin that's why they don't like bitcoin

Indeed, they are more engaged  with something that they are seeing in physical, more on the actual thing and  not

just by specualtions, those rich people who builds empires of businesses are not easily convinced that digital assets

will achieved more supports especially if everything are more relying with specualtions.

Some millionaires are attached to traditional business but actually, the top richest persons in the world mostly come from technology and digital business like Jeff Bezos, Elon Musk, and Mark Zuckerberg. Elon Musk climbed the top richest person in the world because of cryptocurrency. Real richest seize opportunities!

We can't blame those millionaires who don't like the concept of bitcoin/cryptocurrency. They will always believe in the way that makes them rich and we can't deny that it is more effective to them.

Donald Trump and wren brafet dislike cryptocurrencies. Donald Trump said I don't like thin air cryptocurrencies which a scam . Some general people dislike cryptocurrencies because Bitcoin only use for illegal activities.

There can be several reasons as to why millionaires such as the ones you have mentioned hate bitcoin but the things that pops first into my mind every time I encounter such a question are:

 1. They are traditional people - Traditional people only believes in the traditional ways of earning money which they have been studying and using all this time and have been able to prove for themselves the effectiveness. Hence, they only trust traditional ways that they can be sure enough to deliver good results and not see as a 50-50 gamble.

 2. Cyptos affect their businesses/source of income negatively - Now as we can see on the first reason, they have traditional ways of earning and some traditional ways can easily be affected negatively by this industry like banking, remittances and more.

 3. Personal hate for innovation(Complicated things that require a lot to comprehend fully) - Let's face it, lots of traditional people hate the thought of new things that require a huge amount of time and effort to understand. And being a businessman, the person's every move are naturally well calculated to have as much success rate as possible. Now with this industry having too many uncontrollable variables, it is almost impossible to get expected results in a hundred percent. Thus, makes traditional people hesitant to hateful.

There are more reasons out there but these are probably the most logical ones that I think of most of the time.

Of the three points you have mentioned, I strongly agree, because most millionaires are old people, who find it difficult to accept new things.
They believe more in the traditional way they have done so far and prove that they can give them wealth. Even though the world has changed,
so has the way to make money. Now if we can't adapt to change, then with the passage of time will make us left behind. I think the millionaires
who hate Bitcoin will be replaced in the next few years, if they stick to how they make money the traditional way.

Millionaires with an orthodox mentality regarding finance usually do not like cryptocurrencies. I noticed that people who are into the stock market rarely like the crypto industry.
Also, the volatility and few people losing their money might be one of the reasons why they are pissed of with cryptos and the technology which they might not understand is making them go against cryptos so badly.

I think that the soul reason that these millionaires hate bitcoin is because they can't control it and can't really influence it since it is decentralized and not owned or controlled by governments or a specific party that can be influenced in anyway, and to these people all they invest in is stock market and if bitcoin and crypto rises up as the number one investment that will affect their investments and that is why they are against investing in it and they always say that it is bad.

I feel a little bit of jealousy and envy comes into play with Warren Buffett. He derides stocks that he doesn't care to learn about and seems to be content being stuck in a timewarp. It is one thing to specialize in a certain area and he has done very well by sticking with his array of large companies for Berkshire Hathaway, but it is a bit sad to hear him and Charlie Munger deride stuff they don't understand. Bitcoin and cryptocurrency more generally is going to heavily impact Visa and American express - two companies that they have a large stake in, so there may be an ulterior motive to them talking badly about Bitcoin. They don't like that another technology could potentially undermine two of the biggest financial companies that they have a large stake in.

Because they don't have Bitcoin in their hands. I don't want to exchange my wealth for Bitcoin. If you publish promising information, it may lead to currency appreciation. If it really rises, it needs to be bought at a higher price. What does it mean? His wealth was plundered!

some people just too comfortable making profit using the traditional currency that they are used to, not to mention the people you mentioned are group of old men.
the thing is, some millionaire always have this some kind of belief that they follow, warren buffet rarely believe in digital goods or any digital service, the main reason why he bought tech based company stocks very late in the game.
tbh i've seen quite many millionaires favour crypto as well but most of them stays under the radar, it's just the media keep repeating fud from someone like warren buffet a lot more.

First of all, these people's perceptions are unlikely to be ignorant of BTC. We will find that the more disruptive something is, the more difficult it is to judge its value. The idea of decentralization is not only to subvert the financial field, it may also become the consensus of our future human beings. It is essentially a model of checks and balances of power, realized through technical means, and a new political model. , The so-called code is right. In the words of American historian Yuval Harari, this is the religion of the future, a religion of people who believe in algorithms. You will find that if you use any of the current ones, the value evaluation system will fail. But the future is unpredictable. The world's richest people obviously know this, and they can only judge its value through some current evaluation systems. It is not surprising to come to such a conclusion.

It's actually normal when a new technology emerge to see our world elders who has been schooled on a old fashioned pattern of livelyhood try to fight against technology. When technology began to emerge so many advanced people felt it was a sign that the world was going to end soon and had to avoid having anything to do with it. I am actually not surprised at all soon newer billionaires would Emer from the cryto Industry and this would help correct some wrong misconception about blockchain technology.

Maybe because they don't exactly understand or grasp the concept of bitcoin because they find it too young and new and they have a hard time investing in something that don't exactly have a good chances of staying alive unless proven.

The only reason I can think of why they hate bitcoin is they don't want to buy at the current price. They use their influence to say some bad stuff about bitcoin to bring the price down, then when their statement causes panic on the bitcoin market they will buy at that lower price. I don't think it is their age that they hate digital currencies.  I'm sure they know fiat can be easily printed while bitcoin has a limited amount of supply. Technology is evolving so they know what type of assets are good to invest with the current generation.

Millionaires don't really hate bitcoin, they just hate the exorbitant price of bitcoin right now. They make it sound like they hate bitcoin and spread a lot of FUD to lower the price of BTC. those who have a lot of money will be easy to manipulate the market. No one really hates Bitcoin or cryptocurrencies, Bitcoin is the future payment technology that will provide many advantages but also has some disadvantages.

The rich who hate Bitcoin are those who do not want wealth to rotate or get to the poor because that is part of what Bitcoin tends to do. Those who do not hate it are the true generous ones without pretense of being philanthropic in the public. Again, it can also be that they hate Bitcoin because they missed out buying when it was at its early stage and very cheap. It is a kind of regret thing for them.

They don't want to embraced something that's new to them, what do you expect from people who already have a good status using the old-fashioned ways, they can't adopt as they'll stay with what they've already got.

Expect that and many more opinions will flow around, there are people who will embrace it but there are more that will take time before realizing the worth.


Once they've seen the big potentials knowing that money will flow inside  those so-called haters will begin to collect this asset
and start bringing their money inside the market.

Because they see the US dollar hegemony as their birthright, they have never lived in a world in which the US dollar had to compete on a fair level ground against other currencies, since WWII the US had a huge advantage over any other country and despite the huge inflation it went through because of the pandemic they are not worried about other fiat currencies, they are worried about bitcoin and with good reason as bitcoin actually has a chance to eventually become the top currency around the world taking the place of the US dollar.

I think they just believe in only traditional old ways to make money and also a reason most millionaires unaware about latest technology they work done from their employees,Also they might not just like the thought of decentralized cash; they have been in a trade for so long, they circulate people's speculations for profit. Imagine individuals really owning their cash and not the banks  that's a tremendous danger to them.But finally at all the winners of futre are those who know about Bitcoin and know how to handle crypto market.

One of the reasons I feel some millionaires hate bitcoin is because of the bitcoin success! Bitcoin defies all they've used to know amidst all odds against it and hit unimaginable market caps in just few years. It tends to surprise them and as such, they believe its not sustainable and in that instance, they forget times are changing rather rapidly. Some others see it more as a competition,  even if they are not in the same field of business, the growth rate becomes what they tend to compete about. Sadly,  bitcoin ain't about them, there company or any of the variables they look at. Bitcoin is just there for the people to use as they please and an easy life for the knowledgeable or those with the know how.

When it comes to circulation then it isnt really that necessarily that if a wealthy person do buy then t hey are helping the poor because there would always be an inequality when it comes to that.

Rich could still accumulate as much as they can and without minding about into those people below who do earn less but the good thing is that even on smaller parts we can still make taste of Bitcoins greatness.

Rich people who do hate bitcoin are to those who dont have much idea on what it is but once they do realize then they might change up their mind directly.

Because the higher up the list, the more politically correct the super-rich are. Because of the conflict of interest, Bitcoin is an upstart and a revolutionary, and the traditional super-rich are vested interests in the traditional financial sector. There is no reason to be extremely bullish. Perhaps some people secretly have a part of the configuration, but on the surface will not necessarily say.

The only answer to your question is that the rich people don’t have time to invest their amounts in currencies like bitcoin because their business is already going and they are earning billions of dollars from their businesses so they don’t take risk they only invest in their business to grow and expand. But bitcoin is future as many people become millionaires or billionaires from bitcoin, buy risky as well.

Everyone has his/her dislikes you can't force someone into something he/she doesn't like is just simple.
Many of this millionaires feel they already have a lot of money and they envy many of this crypto investors deep down they alswmo want to have this freedom and invest but pride and shame won't let them so they put all effort to tag crypto as illegal currency or make a bad name for it even move to the extend of demanding ban for cryptocurrency. Many of this people wish to be like use

I think that the main reason is given due to their type of financial education, and particularly it has to do with people who are older adults, who only trust the stable, like Warren Buffet, Schiff, Donald Trump, they are people who have a financial education. very high, that they have had a lot of experience in the Stock Market and that they have signs of genius at times. At the moment they know Bitcoin they analyze that BTC does not have any support like Gold, diamonds, oil, it only depends on supply and demand, this is not enough for them, and if it is added that BTC is very unstable, volatility it is for them an enemy they draw conclusions due to their experience.

Of course this does not mean that they are right, they are human and they are wrong, a person who is a billionaire and who thinks differently from them because if he believes in Bitcoin he is Robert Kiyosaki, in this case he does believe, so all is not lost , the old school can still be saved.

Simply because it has been an easy bridge for the past years for many to reach their level without putting the same level they exerted to get to that point. We cannot blame them actually, maybe at some point it hindered them from progressing more. Also, the amount of time they spent on studying and grinding just to earn that much was like thrown away due to the existence of crypto. Some millionaires take it as another opportunity while others see it as a threat. I think it would be best if they would just take advantage of it considering the wealth they hold and start investing on it to further more succeed.

1. Some rich people are old, and old people generally don't adopt new technology because they don't understand the need for it since they've lived almost a whole lifetime without it. Or they got rich on the stock market and they can't understand why new asset classes would emerge outside of the stock market. This is your Warren Buffet type person.

2. High up government officials and bankers don't like it because it takes away power from them / their system. So they feel it threatens the system that has made them powerful and rich. This is your Jamie Dimon type person.

3. Rich gold bugs don't like it because it will likely largely replace the monetary purpose of gold. This is your Peter Schiff type person.

4. Lots of people, rich or not, simply think that no publicly available investment can naturally grow in value like Bitcoin continues to do, so they naively think it's all gonna crash and burn eventually. This comes probably partially from not liking the fact that it's available to anyone, whereas the finance industry and government normally keep early stage investments tightly controlled in their availability only to those who are already rich, so they might not like that Bitcoin played outside the understood rule that only the rich are allowed in on great opportunities, but with Bitcoin is was out of left field and not restricted so basically just random people who were lucky enough to hear about it were the ones who got in on the ground floor the first half of last decade. It also comes from just a lack of education about what Bitcoin is and why it makes sense that it does naturally grow like no other publicly available asset ever has in the history of the world.

5. Finally, plenty of people, even the rich, simply don't do anything other than read headlines about Bitcoin. So again it's lack of education. They see headlines about about unnatural growth, big crashes and volatility, not being backed by anything, no intrinsic value, waste of power, hacks, can't spend it anywhere, slow, expensive, only for criminals, controlled by china...you know, you're usual assortment of years worth of badly written articles about Bitcoin by journalists who don't know the first thing about it. And plenty of people don't bother to look any deeper so it all looks like a big scheme.

What they say and what they believe are two different thangs  8)

Bill Gates and Warren Buffett and Elon Musk are two different kinds of people, although they are both rich. Bill Gates, we can call him "the ball guard", you see what he does with his wealth, whether it is to go to Africa to cure diseases or in the United States to enclose land to improve the soil environment, nothing but to their own power to delay or even improve the human on the earth has been on the verge of collapse of the living environment, to make the earth a better place. If you look at Elon Musk, we can call him a "ball pie", whether it's building cars or investing in Bitcoin, it's just a way for him to make money. He just wanted to amass the wealth to develop rocket technology so that he could aggressively push his plans to leave Earth and land on Mars. Musk has found that Bitcoin is the most efficient treasure bank in the history of mankind, and that by tying it to him, he can greatly advance his goal of landing on Mars, so he has put a strong stand on it. Bill Gates, on the other hand, believes that Bitcoin has no value for human beings. It can neither promote the development of science and technology nor improve the living environment of human beings. It only consumes a lot of resources, so he firmly stands on the bearish side. So they're opposites.

that's the trick of rich people, rich people play games like in drama stories, rich people also manipulate everything, in order to increase their wealth coffers, they say bitcoin scam, bitcoin ponzi even though they themselves store a lot of bitcoin, it belongs to people tactics like cheating weak, so he can collect bitcoin more freely.. hahahahaha..

I think it's because bitcoin is a relatively new concept that they have a difficult time wrapping their heads around. But they typically use fiat to make more fiat, introducing a crypto currency accepted globally undermines their purchasing power by taking away their fiat demand.

yes, I agree with your opinion, maybe also people who already have a lot of wealth, they are afraid of losing their wealth if they buy bitcoin. now they must be sorry when the price of bitcoin is getting higher and higher in value from year to year. although with bitcoin someone can get a lot of profit, but they prefer gold because they think gold has no risk. maybe they hate bitcoin, because they are afraid that more and more people will get rich like him just by investing in bitcoin.

there are several reasons why millionaires don't want to know bitcoin, most likely the millionaire is already satisfied with his wealth, and doesn't want to be too bothered by trading crypto money
if Donald Trump hates Bitcoin because he thinks Bitcoin has the potential to damage the US dollar but it doesn't and in fact Bitcoin can be a great economic balancer for poor countries and the current pandemic

Bitcoin would forever be a wonder to many billionaires. Who think wealth should be stored in a place and you get to have what you have as long as it is properly kept. No rules whatsoever.  Bitcoin offers the opportunity of a life time. As it is allows you buy, mine, sell, hold in one word BE  INVOLVED . Bitcoin is where you earn wealth and not where you store up.

The hate posed by many billionaires comes up when they begin to feel threatened by the wealth earned by people who just merely sell, predict, mine and hold Bitcoin unlike them they who have work the work and strain their creative mind so they build an equal if not less wealth.

Bitcoin itself is the job

Another reason why so many of them hate this is that satoshi gave bitcoin to the world as a gift, if this technology was privately owned I still think it would have reached some level of success and banks will eventually buy it and use it for their own purposes, but satoshi gave bitcoin to the world which means that for the first time fiat currencies had competition, and not only they now have a competitor they are facing the strongest competitor they have ever faced and they do not like this one bit.

you said it right, millionaires are content with the way they understand things away from Bitcoin, they are not that interested to learn deeper since everything being set and complete.

By far, those who are willing to take time in knowing Bitcoin more closer, the potential that they've seen are good. Unlike from those who immediately assume that Bitcoin is only a bubble that any time can explode and bring damages to their investment.

different people's mindset different opinions around.

It is everyone’s personal thoughts on bitcoin. I don’t think it would be right to generalise things. You go with what you believe and what works for you.

I also think of this as one of the reasons why some millionares loathe bitcoin even though it provides so many benefits. I guess some wealthy people have a mindset that just want to gain and use their people on their own advantage. They love the workers dependence on them because it gives them a lot of profit. Hence, enough reason to hate bitcoin because it can be a source of financial independence as long as you are knowledgeable.

Another reason why I think the wealthy people aren't just a fan of bitcoin is that they already have much that they think it isn't really relevant and it's just a kind of scheme to scam people. They think it won't be beneficial to them, so they assume it won't be beneficial to others as well. Little did they know, bitcoin already produced and is still producing a lot of millionaires before up until the present.

I don't agree with your opinion though it is your own point of view. Millionaires are not afraid of new investments because as they know that it makes them richer than their own economic status. Millionaires will try everything that may help them to increase their wealth although it is new. Money is the first thing that they are focusing so meaning they will try to understand and study how cryptocurrency works in order for them to invest big.

Many do not understand how crypto works, but many don't have basic knowledge of technology! Mostly those people are without formal or any kind of education, and most of these people come from third world countries!

When it comes to millionaires we can make a difference between "old and new millionaires"! We can say "old ones" are the millionaires who made their money on something solid, and they believe in traditional values! "New ones" are the ones who are earning from technology and the things that come from that!

In the end, this is individual... we can't generalize and say "this or that" people like/hate Bitcoin and crypto!

with the hatred of some of these millionaires maybe this can be used as motivation for us for investors.to prove to them that bitcoin is not as bad as they think it is. for some reason maybe they hate bitcoin, one of them maybe they are afraid of being rivaled with what bitcoin has.designed with the increasing number of crypto investment enthusiasts.if they really hate bitcoin that's their right too, we just don't need to care about how much people hate the bitcoin world

Most millionaires are people who've been accustomed to the banking system for quite a long time. Something as new as Bitcoin won't bring their attention especially when it's not backed by a reputable entity. Those who adopt Bitcoin (like Elon Musk) will be the ones who'll benefit the most in the long term. Your list greatly explains the reason why the wealthy avoid Bitcoin in the first place. What matters is that Bitcoin remains decentralized to withstand anything on its path. I wouldn't worry about a few millionaires going against Bitcoin, as long as the majority of the people support it. Just my opinion :)

Another reason is that bitcoin is a game changer, those that are rich obviously like the system as it is as they are at the very top of it and have a lot of influence, bitcoin promises to change the way the economy is going to work and they are not happy with it, meaning that they will have to start over and they do not like the idea of paying tens of thousands of dollars for bitcoin when other people got them almost for free, they are used to the opposite, in which they are the ones that get stocks at ridiculous low prices and then sell when the prices are inflated.

It's just like you said.

Many of them were negative at first but then changed their minds. The guys from Shark Tank are one of those. Mark Cuban thought it to be a ponzi scheme at first. I don't remember exactly but he said something like that about 5 years ago and now he owns some bitcoins. Kevin O'Leary said in 2019 that bitcoin is useless and now he's planning to invest in green mining.

These guys need a bit more time than we do, they're a bit slow and scared because they've seen many scammers in their line of work ;)

Amazon has not accepted Paypal as a means of payment, it only supports credit cards.
IMO when Jeff Bezos created Amazon as a new business model in his time that led him to innovation. Accepting bitcoin on Amazon is like minimizing the company for the great euphoria it can cause. It is like a solid brand that does not need another element as well as it can happen with Apple.
That is the reason in my opinion that large brands led by Billionaires do not accept bitcoin.

it's because they don't invest bitcoin.  Then the price of bitcoin that continues to rise makes them jealous.  They say hate bitcoin to get bitcoin price down and many people support them.  But I believe in time they will accept bitcoin and invest in bitcoin.

I don't have any backing things about this but I think the reason why they hate crypto is it's accessibility, the people from different levels of life can easily access it and with some strong fundamental knowledge about it, can help them make money. With the people finding financial freedom in crypto, the people at the top are scared because they're control over the people are slowly wavering since the things that they can offer can be offered by crypto in a much better way.

Bitcoin is scam to people don't have money, any millionaires hate bitcoin they still looking for a money, use can't see a billionaire condemning bitcoin without coagent reasons, it's before when people are ignorant of bitcoin and they hate it, but since people have started practicing investing in bitcoin,even the millionaires is even investing their money in bitcoin.

Before, many millionaires, we're not really aware about Bitcoin, they accustomed the way they believed,

they not willing to put investment, in the things that cannot be seen or touch,

or they hated BTC, because, many people who possess BTC, specially those early adopters are richer than they. 

It is basically the ideological and conceptual tradition of the older generation of bourgeoisie. They believe that the cryptocurrency field has no real value to support the existence of cryptocurrency. They do not understand the technology of the crypto market and do not want to put themselves at risk of unknown passivity. They would rather stay in their comfort zone.

Because they're FIAT slaves like Elon Musk. Don't be fooled to think this dude loves crypto. These elite guys hate cryptocurrencies for a reason because they've been taught to hate them.

they don't understand bitcoin, they also don't understand crypto performance, rich people are used to fiat currency, that's why they hate bitcoin, but I think if they understand and understand bitcoin, they will definitely play in krypto money, indeed play in crypto have risk, that's why people are afraid of crypto, they are afraid of risk..

As for now I didn't seen any people right now getting angry with the use of bitcoin but well in just my perspective too and based on the statement given by the other member some people hate it. I guess because they know the chance or possibility that you hold this coin for a long wait and get your profit if the market rises too much another factor too is people now invested with the cryptocurrency which is decentralized and not to those coins or let's say stocks and forex.

Also common is if you don't know things like crypto I guess risking your money is not recommended. Always invest in the things you know.

In my opinion, some wealthy people have a disliking view of BTC and treat BTC as a ponzi scheme which is a scam. maybe they don't fully understand the technology of BTC and believe in its future. If BTC has more banks or places that accept payments, I believe they will think differently about BTC.

Most of them loves to stay with fiat as they already familiar with how things works around it, while wih crypto where there are chances that their money will lose it's value they are not accustomed to accept and embrace that factors.

Rich people already have the wealth and they are not willing to venture with something that risk is much higher than the potential of gaining huge amount of money,

Lacking with understanding and unwilling to take the long steps of learning the process.

People does have different impression towards Bitcoin which it isnt surprising that they would neither be interested nor having the opposite view about it which we can understand.

In all the possible methods and ways of scamming nowadays, you would really be having that kind of mindset or reaction that this is might some another scam once again but if you do

really make your homework then you would really be changing your impressions towards bitcoin since it isnt the true thing about it.By just looking on the community on how big it is
then thats one of the factors or indicators that you arent dealing on something which is a potential scam.

Not really. Tesla once accepted bitcoin and invested in bitcoin and then stopped accepting bitcoin.

There's no jealousy with the price increase of bitcoin and in fact, that's what they want if ever they invest but they don't. Those negative thoughts that they're showing to the public, it's either being done for them to give a good price entry. But some of them might be really saying a real thought they've got against bitcoin.

Most of those attempts are the keep, other people, away from bitcoin and another tech that makes challenges them to change by following masses, They don't want to follow masses so they hate it, What they mean is "I'm here because i don't use bitcoin and you shouldn't either"


They don't support it because their wealth is built on traditional sources of income and anything new that changes the tradition messes with their head.. a lot.
When people get old their drive to do things decreases, most of them, and life becomes dull because the brain recalls past knowledge and connects dots and that becomes easy rather than learning something new.

It is almost worthless even listening to people like Warren Buffet and Donald Trump on these topics, they are already sitting on top of fortunes that would be able to last them many lifetimes - they will never need to move outside of their comfort zone again. Cryptocurrency is very much a new field and those guys are in their 80's/90's right now so it may feel largely redundant for them to learn about such new technologies. They got rich without it, they learned their businesses without it and they can finish their life without needing to know about this new subject that does not offer them anything. Unlike people born today who have a chance to speculate on the future, their form of speculation on the past was owning companies and shares. Do not begrudge them, but they should stick to fields of expertise rather than chastise people.

Not all wealthy people don’t like to invest in Bitcoin. There are still some giant whales in the Bitcoin market. They have invested in a lot of Bitcoin, such as MicroStrategy and Tesla. There are also companies that seem to resist Bitcoin. In fact, they bought a lot. Goldman Sachs tried to sing empty bitcoins before, but instead bought a lot of bitcoins. I think that many millionaires among them may be considering the high volatility of Bitcoin, the risk is not controllable, or they may not understand encryption technology very well. After all, everyone has a different background and ability to accept new things. , But they have realized the freedom of wealth, so there is no need to take risks.

I think BTC is unpopular with some and there are some millionaires who see it as a ponzi scheme. and at some point it will collapse like a bubble burst which also means that they will not be able to put their assets in a short-term investment. All because they don't understand the technology of BTC and see the profitable future it brings.

When you are wealthy, you automatically hate any changes and everything that might cause those changes. Millionaires want to maintain status quo forever, but, unfortunately for them, that's not how things work in this world. The wisest from them are aware of that, of course, and now actively buying BTC at low price.

Well, why do some millionaires hate Bitcoin? Not just millionaires, but multi millionaires and billionaires as well, hate Bitcoin? Well most of the them of course does not have a grasp of the technology that is being used in Bitcoin and cryptocurrency in general. So without the said knowledge, of course they would not dare risk a lot of money to something that they do not understand. And they simply rely their riches to traditional investments and business, which I don't really blame them, but if that is what they want then let them do what they want.

I know someone that they believe that bitcoin is a scam which is not because they said that they lose money of about almost $14,000. Why do they say that? Because they just put their money with those scammers (people) and not in bitcoin itself. They don't actually know how to buy bitcoin with their money. If only they know-how and they know the cryptocurrency well, for sure they will put a lot of their money into it and support bitcoin.

That is almost a controversial statement but yes it’s a fact.
Businessman likes the way they are in, they don’t want any competition with other people.
And as the name suggests Businessman, so they look into the things which will benefit or give profit them.
Like elon musk, they buy an altcoin in a small price and promote it, so when the price goes up they sell it and earn profit.
Hope this clears your doubt OP.

- The criterion of business people is to keep a neutral attitude and support the opinions of favor for their development, and the government is a direct factor that can help millionaires, they will certainly express a consensus with the government but respectively, bitcoin also supports their investment, helping them to double their income. Sometimes it doesn't stop at this level either and their neutrality is friendly to government rule but proceed to invest in bitcoin in the back, millionaires and rich people only talk about benefits, no hate here

They are traditional investors. they are not tech savvy.
Bitcoin has high volatility.
Bitcoin is decentralized, perhaps they don't want to share their wealth with people they can't control them.

The rich have their own solidified channels to make money. They are still rich without Bitcoin, and they are even afraid that Bitcoin will grab their share of the money-making field. Of course, Bitcoin also needs rich people with knowledge of encryption technology to participate. According to the current situation, most people do not have such a consensus.

They can't be ignorant of Bitcoin. The reason they hate Bitcoin is because Bitcoin is a decentralized cryptocurrency that is not controlled by the government, and their projects are controlled and supported by the government. Profits, if investing in Bitcoin is fair and just for everyone, they can't get high profits from it, so they will insist on profitable ones and hate Bitcoin.

at this point in their view bitcoin seems heavy to be used according to its original function as a currency. Moreover, they think it will be difficult if the government leaves the centralized system, which can be controlled. In other words, bitcoin doesn't seem to have a real function in life, so they think bitcoin is risky for their investment, although not all rich people think like that

This is definitely one of the reasons. If Bitcoin presents itself as a good option for investment, then I am afraid that very few would opt for other investment options such as stock market. This will in turn affect the already existing billionaires badly, since most of their assets will be in the form of stocks. And then there is the issue with jealousy. People like Warren Buffet, who spent 5 decades of his life to get rich can't come to terms with kids in their 20s becoming billionaires in just a couple of years, from their investment with cryptocurrencies.

We are not interested if they hate Bitcoin or not cause since it's a great opportunity to invest in Bitcoin and other cryptocurrency, then who cares if they are against it. Ignorant and stiffness will always make some rich people to despise the truth following their own thoughts only not minding any circumstances that could ensued.

 I still believe they have the money and what it would take to promote the existence of Bitcoin so that everyone will benefit from the great opportunity Bitcoin has to offer but most will still ignore it as scam.

Millionaires are usually selfish, so they don't want anyone else (especially noobs or amateurs) to become like them within such a short amount of time. Crypto has certainly made some millionaires, thanks to the astronomical increase in market prices since its inception. It becomes hard to ignore Bitcoin as a serious long-term investment as since its price only goes higher over time. Some millionaires know Bitcoin's potential, so they invest in it secretly even if they spread negative comments about it in public.

What matters here is that Bitcoin remains decentralized and censorship-resistant so that people can enjoy truly sound money outside the scope of banks and governments worldwide. Bitcoin will remain resilient regardless of what wealthy people like Warren Buffet and Donald Trump say against it. The new generation (millennials) will embrace Bitcoin, paving the way for long-term prosperity. We'll be seeing more millionaires in the future, as Bitcoin soars towards new All-time-highs. Just my opinion :)

bitcoin is very attractive to many enthusiasts.which makes.millionaires so amazed by what the crypto business is doing, because bitcoin is like a crypto gold that cannot be understood.by everyone, especially some millionaires who will certainly.think how someone makes.money from bitcoin Of course, everyone also wonders.how bitcoin works.that's why they hate crypto so much because they don't understand the business, so there.is a negative.opinion,about bitcoin.

Some Rich people don't like and believe cryptocurrencies because they don't have enough knowledge about Bitcoin and they don't focus themselves in to public. Donald trump and warren brafet two the gentle Man don't like Bitcoin because they always say Bitcoin a decentralized..

Some millionaires that hate bitcoin don’t understand what Bitcoin stands for, most of them are afraid of losing their money because of so many scams associated with online transactions.

They are naming it as a scam because they don't understand it. But some of them even understand bitcoin, they don't want to get on in because they think that it's only associated with scams and crimes. This is an old belief that has changed over time.
The mainstream has adopted bitcoin and they surely know that a country has adopted it as a legal tender, they have gained knowledge through news and that's what they know about bitcoin. They're just not sure if it's a good investment until now but they'll understand that it is and when they do, they probably have missed already the trend for buying it cheap.

There are indeed many rich people who reject digital currency because it is a virtual asset for them, and they prefer something that can be seen in their hands. There will also be many people because they don’t understand and other people’s explanations don’t understand, because their inherent business can also make a lot of money, and they are good at doing it. Not everyone can become Buffett's thinking and investment logic, not to mention that Buffett is not interested in Bitcoin.

Most of it is just lack of knowledge imo. Every new technology has its haters. If you look back a few years ago, many many bankers were saying it was a scam and a ponzi or whatever, but now they are all investing their hedge funds into crypto and have held back criticism after buying in. Honestly seems to me like they are talking down about crypto just to lower the price to get better buy ins. In the end, rich people love making more money, and crypto is just one more way to do that, so why would they avoid it unless they just don't understand that yet.

Many individuals and organizations are now self-sufficient because of bitcoin.Because of this, rich people think that one day they too will become rich.I think that's why rich people have started hating bitcoin.

The problem with their coldness towards bitcoin is that bitcoin is built on a platform that was rife of scam and it's not like bitcoin was a pure thing because back then it was used by scammers and other malicious people so that impression might really have made them not consider bitcoin. Bitcoin doesn't need this people, they will come to bitcoin when bitcoin finally proves itself to this people.

Bitcoin is valuable to people, they can achieve wealth freedom through Bitcoin. But some millionaires don't want to see others become rich through Bitcoin. Bitcoin is decentralized, not regulated by the government, and its characteristics make it impossible for them to control wealth. This way they can't make a profit, which is not good for them, and they will hate Bitcoin.

This hate can be caused by fact that some people have worked hard their entire life, while others simply bought right asset at right time. I think that they are just jealous that other found simple and quickest way to get rich.

The reason some millionaires hate bitcoin is because they have no knowledge of bitcoin and cannot use it properly. Greed later invests without knowing anything about the market my research on bitcoin has convinced me that it can not only hedge against long term inflation but also act as a short term investment due to higher volatility. Successful traders are those who learn to analyze the market keep the market informed and keep trying different strategies choose a platform that provides you with a built in trading simulator for practice.

yeah right! that's also  a good point there. Those rich people believes that getting a fortune should come from your hard work, unlike with Bitcoin where if you bought it or mine it 10 years ago and keep everything till now, the fortune that you gained is far higher than those who creates businesses and established it that takes them more years before enjoying their success.

Jealous from those lucky peps who made it and changed their lives after investing to Bitcoin.  :P ::)

it take years before btc grow like this and investing in the early days is not easy .
btc investors do also put an effort to get what they have now . why would they be jelous but they can do the same and it was not too late yet to invest in bitcoins .

They are the winners of traditional financial orders. For their own interests, they will try their best to safeguard the financial system supported by the government. Bitcoin is decentralized, not controlled by institutions, and can be traded arbitrarily on a global scale. It makes people free. Bitcoin brings people high profits and can enable people to achieve wealth freedom. Those rich men don’t want investors to profit from Bitcoin, and they don’t want others to become rich through Bitcoin.

hello sir, I think the reason they hate bitcoin is that most of the speculation is very high, and the rich people are not sure about the benefits that bitcoin gives because they know that very high speculation will not stabilize the price and they are not interested in crypto because of the dangers very high speculation itself

That makes sense. If you know that BTC will rise in the future anyway, you spread negative news and opinions among your followers(it's especially effective when there are many of them) to lower the price. Why buy expensive if you can buy cheap? Then once it's cheap - you buy and wait. It can take couple of years, but we all know what will happen eventually. :)


I absolutely agree with you. Moreover, since COVID-19 has advanced the world's understanding of new technologies(it's been discussed in another thread here), tens of millions older people have now joined the game. I bet many of them will embrace Bitcoin too.

What kind of effort BTC investors put? Buy from a newbie miner in 2014, wait for 4 years and multiply your investment 66 times?
How a regular millionaire looks like? A guy who worked tens years to develop business. They don't just buy, sit and wait. Look at Forbes billionaire list (https://www.forbes.com/billionaires/). None of them sit on their asses and wait till their company and capital grow by itself. They are jealous that other got everything more easy. They are jealous that someone believed and crypto and they not.

Their main reason is that they are simply invested in another assets class. Asset classes compete with each other for peoples' money. If you have a lot of real estate, do you want people to put their money in gold? And if you have a lot of gold, do you want people to put their money in stocks? You get the idea, and when it comes to Warren Buffet it becomes very obvious why he doesn't like Bitcoin. A lot of people, specifically from the younger generations (and even more and more from the older generations) have a choice these days. Namely, do they put their money into stocks (which Buffet holds) or do they try something new and go for Bitcoin? They didn't have this choice a couple of years ago.

Stop spamming the forum with Unrelated posts like this , Create your separate thread if you want to advertise this Shitcoin.
and besides Swapping with new project? that's a Joke.

Reported for deletion ..

Millionaires has their own views in every profiteering , some are looking into virtual while others in actual/physical .

Because of its volatility and they cannot predict when the value will go up. They see it as a scam or it can easily be hacked. Most millionaires prefer investments that are much safer and regulated. And they also want to protect their hard-earned money and secure the future of their families. They are also lack of information and knowledge about the technology of bitcoin.

their views may have been proven by the fact that the brand does not like bitcoin,, my view is because bitcoin does not have a security that can calm its owner, and also realize bitcoin is only an illusion for those who hate it

The issue is that those millionaires might have made their money in wall street who played in the centralized market where they were able to control the market with their company inside information and when they see Bitcoin as a decentralized market they do not have a clue on where to start as they have no idea how to control a global market and that is the reason why several institutional institutions took a long time to dive into the cryptocurrency market.

everyone knows.that bitcoin has.grown so fast in.the last feed.years and its.development is.very fast and can.make people rich in.just one night.so that's.why bitcoin is.so hated.by many millionaires.thus they are afraid.of their venomous.business rivaled.by bitcoin especially for investors.who can.match the profits.of some of.these millionaires.therefore they continue to build a bad.opinion of the.cryptocurrency

Warren buffett a gentleman who the one of the richest man in the world but you can't tell him a person who don't know about bitcoin. But he has another issues to not invest in cryptocurrencies. Donald trump not agree with cryptocurrency because he doesn't like air thin money.

We know that Bitcoin is the best valuable digital coin in the cryptocurrency world. Because we know that it's the king of cryptocurrency market.We also know that Bitcoin price is very prefer than others coin.But someone or some millionaires heat Bitcoin. Because they thinks that gold is the best valuable things for them.But we believed that Bitcoin is very prefer coin in the cryptocurrency market.So i trust that in future it's will be nearest gold.

Maybe there are such people among millionaires, but I don't think there are many of them. Imagine, you are rich and prosperous, but you are not enjoying your life in full, instead you've decided to poison it with hatred towards something. I could understand if that hatred is directed towards what you think is morally wrong, but simply hate someone for being more successful than you? Idk, I don't think there are a lot of such cases. You can see such people quite often in bad movies, but rarely, if ever, in real life.

Bitcoin is an investment currency with storage value. The number of Bitcoin is limited, and its scarcity feature makes it more valuable. Although its market price is relatively volatile, it has good investment value in the long run. Investing in Bitcoin brings huge benefits to investors and enables them to achieve wealth freedom. Millionaires don't want investors to make more profits than them through Bitcoin.
Bitcoin is still decentralized. It is not regulated and restricted by the government. It is completely in their own control of personal assets, so that they cannot profit from investors, which is not good for them.

they don't hate bitcoin but they wait for the right time when bitcoin is at the lowest price where they can get maximum profit
besides that they can manipulate the market easily and create panic or Fomo in a short time
they just sit still and wait, when the time is right they will enter and make the market panic because they have big capital

What he wants to say is they build their millions from the bottom up to the top like they are working hard for a decade just to be on top, they are learning a lot of things, they go to schools, they have big people to have connections then all of the sudden an ordinary man that bought a bitcoin then price spike up fast then they become a millionaire like if you bought BTC way back 2016 then you hold until now then that's kinda easy no struggles, just holding it or a couple of years without doing anything then you became an instant millionaire that's why I think those millionaire peoples got jealous and can't accept that they got their millions without effort`1

mostly they don't know about the technology or they still dont believe with unreal money i mean money that they can touch

millionaires will invest on stock or gold or other safe haven investment

They don't believe it's a scam, otherwise they wouldn't hate it. They hate it because it's a tool for 'common' people to get wealthy, outside of their little rich world.

A common people became millionaire when they bought BTC back in 2011-12. A common people became millionaire who believe in Binance coin and bought it back in 2017. Now, common people especially gamers will become millionaire in the next 2-3 years after they started playing AXIE or $ANRX (https://anrkeyx.io/landing) after they monetize their game play.

- You really know the joke, the age of technology and business also applies a lot of advertising products and systems, saying that millionaires don't know about technology and being afraid to touch virtual products is a mistake, sometimes millionaires are one of the earliest contact groups, they have money and are one of the influencers, fundraising for such products always starts with millionaires. Safe havens are only one part of the many areas in which they invest, their diversification is relatively optimal

anyone in this world likes to see their money multiplying, even though most millionaires are still afraid to invest in bitcoin, they will sooner or later invest in bitcoin because they want to see their money increase a lot. Until a few years ago there were many millionaires who spoke badly of bitcoin, but today we are seeing a completely different scenario where some millionaires and billionaires already buy bitcoin and speak transparently on the internet that they bought bitcoin

Well, that's one of many reasons, Most of the millionaires spend their whole life to keep on making the same or more amount of money so that they don't have to bring low-status lifestyle. This is what I've seen with most of them.

Some are millionaires for their hard work and they reached that height doing a single work and bringing change to that work will lead to re-learn or master another skill to remain at the same height which is not desirable for each and every one of them.

Sometimes some millionaires tweeted they don't like Bitcoin but after next update they already invested in Bitcoin and gained a lots of profits because they bought indeep and sold in hyped.

We saw the cover they really hate bitcoin for trying to lower its price and backstage maybe buy it at a lower price. Who is millionaire no.1 in the world, Elon Musk is also involved in crypto investing.

yeah right, they are doing things like this for the sake of generating false information while they are working behind the scene and taking all the opportunities to buy loads of cheap Bitcoin.

Elon Musk got his companies, they love sucking those money out from those poor and average types of beginners, those people who are affected of certained news about known personalities who are against to this market.

They've been played perfectly by those so called haters. ;D

Some gigantic investors as like Elon musk sometimes tweeted his profile bio or tweeted in their personal blogs that they don't no investment/ longer in Bitcoin and others but it's a trick for cryptocurrencies investment. Their investment time they announced negative and selling time they announced position news.

Humans can do anything to satisfy their greed, that's what Elon Musk is doing right now. He spread FUD to create panic, so that many investors
are influenced and sell Bitcoin at a low price. But those who are affected by Elon Musk are only beginners who don't really understand the crypto
world, therefore Bitcoin is currently still stuck above the $30k price. Because there are still many smart investors with whatever Elon Musk did
and made the Bitcoin price fall, but still holding the Bitcoin it owns. My advice we all don't be easily influenced by other people, continue to believe
in the results of our research and analysis. So there will be no wrong in making decisions.

Millionaires are all stakeholders in the traditional economic and financial system. Bitcoin is a new economic trend based on blockchain technology, and there is a conflict of interest between them.
As winners of the traditional financial system, in order to safeguard their own interests, they must vigorously support the current financial system supported by the national government. Bitcoin is decentralized, it owns personal assets and is not controlled by the government. Investing in Bitcoin is not conducive to safeguarding their interests, so they will hate Bitcoin.

A distinction should be made between billionaires from the internet/technology sector and those from other sectors. It is true that losers like Warren Buffet and Bill Gates spent many decades to get to a level where they are right now. But that is not the case with others like Mark Zuckerberg, Elon Musk, Sergey Brin, Jan Koum and many other "instant" billionaires. They became super-rich, at a relatively young age. So their attitude towards cryptocurrency will be markedly different from those by people like Buffet and Gates. 

There are some millionaires who secretly invest into Bitcoin for profit. They just don't want to disclose it publicly in order to avoid problems with banks. After all, millionaires store most of their wealth in Fiat through a bank of their choice. I'm sure the number of millionaires will increase over time as Bitcoin becomes more popular. The new generation will embrace crypto/Blockchain tech, while the old generation will be left behind in the dust. Figures like Warren Buffet and Donald Trump are part of the old generation. It doesn't matter what a person says against Bitcoin, as long as it stays decentralized. With how Bitcoin has progressed since its inception, I'd say that it'll be here to stay for a very long time. Just my thoughts ;D

Well, I believe the only reason why Billionaires and Millionaire would hate Bitcoin is a lack of foresight or inadequate know about how it works, take for instance Elon musk bought Bitcoin few months ago, what do you think his motive was of course to increase his income and it only came through for him because he has the foresight to predict his capability as well as the effect of him buying
So people saying that it is a scam or whatever, I think its due to inadequate knowledge about . There is no two ways about it.

True, most who hate bitcoin including millionaires because they do not know the right information about bitcoin. Moreover most of them always hear bitcoin is illegal and used for crime transactions such as money laundering, tax avoidance, terrorist transactions and so on.

Yup, the proof of this statement can be seen in the whales alert. Everyday and every minutes we can see the transaction. Thousand of BTC is transfered  from one address to another address. They move silently to avoid bubble price in market. Millioners are some people who really aware how the development of investment. BTC is one unique asset which really need to be have.

so many people hate bitcoin like what was done by donald trump some time ago he said bitcoin could threaten the value of the USD which will affect the currency of the United States of America, so they prefer to ban the circulation of bitcoin in their country, maybe this will continues indefinitely

In some countries there is no law on bitcoin while in many countries bitcoin transactions are legal but economists and other stakeholders around the world have warned that investing in cryptocurrencies is risky as their prices rise and fall sharply. Many millennials do not understand the exact signals of the market for these rapid price rises and losses for which they are at a loss and hate bitcoin many countries hate bitcoin but cannot ban its use.

In my opinion very often rich people do not tell the truth about their assets - the amount or type of them, and make different statements just on their own favour, manipulating by lots people minds. While at the same time having Bitcoins or other assets on their accounts. May be those who support dollar are just cunning or really got a lot income on gold or dollars or whatever.

How people portray cryptocurrencies like bitcoins depends upon their own level of understanding. Some think they will replace the fiat currency very soon while others think they won’t even last in the next few decades. It all depends on the person and his understanding.

totally agree, this is a natural thing where everyone has a different mindset and opinion.  But we don't need to focus on people who don't like bitcoin because it's hard to change people's mindset.  the important thing is that we love bitcoin, then know the advantages and benefits of bitcoin.

Actually your opinion correct but some people personally hate Bitcoin because they think bitcoin will replace Fiat and Bitcoin mining would damage economic systems in their country.

I think millionaires hate bitcoin because bitcoin can create millionaires, billionaires like them quickly.  Haha, but I think the big problem is the perception and idea, a lot of billionaires get rich from real estate, it's simple to own physically with paper, easy to maintain...  with bitcoin being a problem, security, governance,... etc, and I think they see that as a risk.

right, they still think bitcoin is very risky. In the absence of legality from the government, bitcoin is considered not to have a real function as a currency. and finally they prefer a real business and have little risk as long as their wealth is safe, therefore property is an option as a safe asset for them. but i think nowadays there will be a lot of rich people who start studying bitcoin opportunities for the future

yes, especially to maybe I can say waren buffet and Donald Trump, basically Donald Trump himself has said clearly that Bitcoin can threaten the electability of $. Therefore, he really hates Bitcoin and warren buffet, don't listen too much to what he has to say. said because basically he doesn't understand technology so he doesn't know what Bitcoin is like and maybe I think he just heard it from other people because we all know that basically it is a technology stutter

Yes indeed in my opinion most government who banning bitcoin because it can hurt their own system the fiat and as you can see bitcoin transaction is transparent and decentralized that government can control

Most people who hate bitcoin for fear of their wealth decreasing, they are comfortable with the current situation so they don't want to try new things, bitcoin is decentralized so they worry if the price drops their wealth will be lost.

Learning something new all the time is the only option for staying afloat these days. It's hard to comprehend because for centuries your life experience and acquired skills by the age, say, 40, was enough for the next couple of generations to be learning from you. Now elderly people like Warren Buffett should certainly be learning from younger folks, or else they are risking to sound like the guy.

That's the only right point. Millionaires don't just have cash lying around, they have a portfolio and most likely without crypto if they complain about it. So if people have to decide where to put their money, they might buy Bitcoin instead of pushing prices of the assets of these millionaires' portfolios.

do they really hate bitcoin ? or they don't have idea and belief about this? because the term Hate must have something where if coming from and why would they hate a currency that does not affecting them at all cost?
unless they are once to be investor and lose in this market then maybe they have reason to hate this because of their own mistakes.

I think it's because BTC is just a speculative asset and there's no real value which makes it an unproductive asset. Moreover, the government has no authority over it thus it's not backed up by the government, and no certainty whether it will be a popular investment in the future.

These millionaires get angry at Bitcoin because nearly all of these millionaires are investing into only gold and fiat currencies. As a result, they don't want to see their investments losing value in the future. Because there is a possibility for Bitcoin to reach really incredible levels and even leave behind one of these assets at least. I think that this could be one of the main reasons.

I disagree, the value of fiat money as well as gold will not decrease much in the future, it can be said that the future is the sky of these investments when the needs and initiatives of the next generations are relatively higher due to the improved environment, through which social development and investment trends are also better seen, as a result, investments will tend to increase no matter how much or little. In fact, millionaires are also members of the future, so the percentage of them hating bitcoin will not be high and this could be slander.

Most millionaires do believe in the traditional type of investment- which is either purchasing stocks or gold on the market. Since most of these investors got their wealth from a relatively risky method, some do not approve of investing into an instrument which is highly volatile (cryptocurrencies).

Though this may be the case, some big investors are jumping on the ship as they expressed their interest towards cryptocurrencies. Imagine a millionaire purchasing several hundreds of BTC. The slightest increase/decrease on its price means gain or loss of millions of $$$ on their part.

It is possible that some millionaires hate bitcoin but not all. The millionaires who are in touch with advance technology or have knowledge about IT, E-commerce is utilizing and making money through Bitcoin.

The majority of the world population is based on poor people. And BTC is a flash of hope and a source of income and employment for middle-class and poor people.

After legalization development in many countries, its network is spreading. And the millionaires cannot block the flow of digital currency.

the answer is simple. why do billionaires hate bitcoin if there is no specific purpose? I think it has something to do with the billionaire business being disrupted by bitcoin. If bitcoin has a positive impact on the billionaire business I don't think billionaires will hate bitcoin, maybe billionaires will support bitcoin because the assets of billionaires are enough to shock the bitcoin market.

but the understanding of billionaires like warren buffet can create a shock in the crypto market. the public should not raise too much the issue of billionaires hating bitcoin because it would undermine public confidence. this kind of understanding must be completely lost in order for bitcoin to continue to run in the crypto market.

They hate Bitcoin because they are afraid of being in a big loss in gold or fiat in the long run. And the reason to hate is different for some of them also. They don't have much knowledge about Bitcoin as it is completely new for people who are accustomed to using fiat currencies a lot. But they know also that they can increase their knowledge about it. But rather than that, they choose to antagonize Bitcoin.

How can Donald Trump how me if i am broke. No body cares about whether you eat or not but you need to focus and do what makes you happy. Even though all the big investors decided to leave Bitcoin or work against it, I will be happy to continuing investing in it cause I don't think anyone of them can really help the current situation of economy now where masses are still complaining of lack of money to finance the activities.

We cant really deny that there are millionaires which are really careless in terms of their finances but its really hard to believe on that they arent aware with the risk involved since they wont really be reaching out
that kind of status if they werent really that good in terms of business or investment but cant really be surprised because they've been dealing with crypto market which simply shows up on how
unpredictable the market is.When you do lose up money because of volatility then this doesnt matter if you are a millionaire or just an average investor.You would really be having that rage or anger
in emotion when you do lost which i do consider for it to be normal.

They do and they don't want to embrace the underlying new technology with bitcoin and they just can't cope and accept it.
Yes, if there's a threat to their business, they'll talk negatively and hate bitcoin but if there's none, just as usual business day for them.

Because bitcoinnis not their usual way of making money unlike with their usual businesses and in fact they cannot control bitcoin unlike with their business they have some control.

They only have the control over their investment thats all but with bitcoin thing,  they dont have any power to hold the price of bitcoin.

Well, some of these people don’t just hate Bitcoin. They don’t understand the intricacies of Bitcoin and also they believe the market is too volatile. This, in my opinion is why some of them avoid it.

I don’t think hate is the right word. That’s a strong word. In my opinion, I think they are against Bitcoin which may be due to certain reasons like not having a full knowledge of Bitcoin, this reason alone makes them uncertain and they understand that lack of knowledge in that field will cost them a whole lot of money. This might be one of the reasons.

Maybe they don't want others to get rich? Because I really don't understand why a rich person will hate Bitcoin. Or maybe they actually hate it because they have a wrong idea about it. Anyways Justin Sun went too far stressing himself to convince someone else about Bitcoin. It makes no sense to convince anybody; if they don't want it, forget it.

it's because they (rich people) can become poor because of bitcoin or crypto.
they have money to live. but they are afraid to lose their money. it's because they can't learn about bitcoin and crypto.
when a person lacks knowledge and skills. they will feel less confident. it could cost them their money.
but I'm sure it only applies to some people. because many rich people have started to enter the crypto market. it's because they don't work and want their money to work for them.

I don't know what is the reason behind hate Bitcoin but I don't think so that millionaires have problem.May be some millionaires have negative view and hate Bitcoin or may be trust issues. Even millionaires have more power to buy Bitcoin, invest in market,earn more they don't afraid to lose money after all they are millionaires.

Exactly, another additional to this statement its that the fast growth of crypto currencies many of them are not capable of going with the flow. I consider Age and commitment to what ever they are doing that kept them behind and as a results they tend not to favor this new technology. Hence, resulting for them to only hate it.

Either some millionaires hate Bitcoin or they just don't understand how it works. The vast majority of wealthy people are against Bitcoin, because they believe it's a scam or a fraud. Warren Buffet and Donald Trump already expressed their disdain towards Bitcoin. They're missing a huge opportunity for profit as Bitcoin continues to soar towards new ATHs. The fact that Bitcoin is scarce and decentralized, should be more than a strong reason for anyone to invest into it for the long haul.

At least, there are some millionaires putting their money and faith into Bitcoin. Elon Musk and Mark Cuban have joined the crypto/Blockchain craze. Not everyone will find Bitcoin as an attractive investment, because of its widely unpredictable nature. The constant fluctuations in price, makes people think twice before relying on Bitcoin as a long term investment. What matters is that Bitcoin stays decentralized and censorship-resistant. As long as there are loyal supporters behind the project, there should be nothing to worry about. Just my thoughts ;D

There is no any issue of hate Bitcoin in my opinion but millioners hate Bitcoin because of there own point of view or maybe they don't trust on Bitcoin and maybe they lost money on Trading Bitcoin. Otherwise there is no any reason to hate Bitcoin.

Peoples hate Bitcoin because they did not know his technology and its importance in our daily life. Bitcoin currency now becomes the global currency because it can be used from anywhere in the world. We can send or receive money within few minutes without taking permission from any central authority. And it is totally decentralized, which means there is no man or a company that controls the bitcoin currency. Only the miners secure its network by mining bitcoin coins.

This is in face truth.
Rather all the old millionaires don’t like Bitcoin. The main reason for this is due to the lack of knowledge on the coin.
If they could know the true value of the coin, they too liked to invest on the coin.
Also as they are old, they use the stock markets rather than crypto trading.
These are all the facts for which some millionaires hate Bitcoins.

because of a lot of money and abundant business, I think they will be difficult to get to learn and understand about the blockchain system itself. however, I also feel that they see bitcoin and other cryptocurrencies as a threat to their business. Well, that's still my speculation. anyway, i think, if they start trying to learn bitcoin, i think they will start investing with it too. many people in my country initially hated bitcoin because they thought that it was a ponzi, and a coin used for gambling, but over time they came to their senses, and started to see bitcoin as one of the great investments.

Elon Musk is a grifter that help to create Paypal, the biggest fraud in payment processing companies out there - his input to crypto is not needed. The worship of Musk because he brought the price of BTC and doge up is getting out of hand - he runs a tech company, he isn't a crypto guru nor should he be treated like one.

I don’t think they really hate bitcoin, they probably don’t like the fact that bitcoin has very high volatility. They are accustomed to investing in secure investments, real estate and gold, which are not subject to such price spikes as Bitcoin. But still, there are many millionaires who also like Bitcoin, so if someone doesn't like something, that's okay.

They feel that they feel virtual for Bitcoin, they feel unreal, no value. There is also a project that they choose investment is not in the encrypted currency. There are also some countries to ban Bitcoin from complying with laws, and there is no way to profit in Bitcoin.

If we talk about those who don't want it, then we must also reveal that some rich people also agree with bitcoin and they even support it.
Those who like and dislike have different opinions.
Bitcoin remains a popular digital asset today, bitcoin is able to reach highs that were previously unthinkable. Bitcoin is able to destabilize the economy and make the government sector powerless. Bitcoin cannot be controlled by anyone.
Even if a millionaire hates bitcoin, bitcoin will still grow and remain a valuable digital asset in the future.

Most people hate hearing misinformation, they think that anonymous and decentralized bitcoin is very risky because it can be used for illegal transactions like terrorist fees, money laundering and so on. if they want to hear the right information maybe they will become bitcoin investors.

I think that the main reason some millionaires hate Bitcoin is the assets they invested into. I mean that those millionaires are investing highly into fiat currencies like dollar etc. and assets like gold. They may be afraiding of the probability that Bitcoin or any cryptocurrency to leave the assets that I mentioned behind in the future. But they should know that these cryptocurrencies are just alternatives to the other assets. They don't aim to replace the other assets but maybe some coins can leave gold behind in the future for example in terms of value.

we don't know what's going on in their minds where millionaires hate bitcoin so much, we also don't know whether bitcoin gives a loss to their business which they have been in all this time so that there is such a deep hatred for bitcoin, whether bitcoin harms other parties. otherwise I don't believe in this at all, we also really hope that the hatred caused by millionaires is not affected by the price of bitcoin

Even there are opposing bodies from the millionaires part, the growth of Bitcoin is no longer under their control. There are many investors who are willing to continue and manage to keep earning decent.

Bitcoin still hot in the eyes of many traders. The growing market shows opportunities and they are not going to waste this chance just because they heard news about rich people who hated the business.

An everlasting twist, as time come and we will hear different stories about the position of those opposing people once they already
understand how beneficial this market can be.

1. Warren Buffet main area is stock/equity, so that's why he has no interest in BTC. 
2. Trump is USA resident and governments don't like BTC at all in its decentralized state.
BTC is there to break the monopolies of centralized financial institutes that's why authorities from such centralized institutes don't like to see BTC getting popular. 

Oh yes, they hate it so much they don't want to participate in trading. First of all, they don't want something that goes up and down so fast. They just want stocks and all these traditional investments and for them that is already instant money. Also, they don't like technology so much, in a sense that they don't like something they don't understand. Most of them are the boomer types the old rich guys that don't want to mess with new tech.

Stock can also go up and down quickly. And I can suppose that they earned their millions with the help of technology and progress also, so hating them is not the true reason.

I think that they hate Bitcoin, because people that are in cryptocurrency can became millionaires also. That is it. They dont like the fact that they can no longer be unique. Lets say you are the only millionaire in town, one year passes, and there are already 30 of people like you. They used to be VIPs, but not anyone with enough luck and a decent amount of capital can become the same.

Right now, the cryptocurrency market is having a market capitalization of less than $2 trillion. On the other hand the market cap of stock markets just within the United States stands at >$50 trillion. And the increase in market cap of these stock exchanges this year is higher than the total market cap of the cryptocurrency market. So obviously the number of millionaires (and billionaires) created by cryptocurrency is much smaller than the same number created by the stock rally this year. In short, your argument is only partially true.

Yes, as if they will be rivaled. They do not want anyone to be richer than him . That might just be one personal reason . However, there are many other reasons, it could be that they are already in their comfort zone. They do not want to put their wealth with something that can not be predicted with certainty. Drastic increase and decrease that can not be controlled . They don't like the system.

I think some millionaires reject Bitcoin because they themselves do not understand and are not interested in this, especially since they already have abundant wealth. Maybe they are satisfied with the wealth and don't want to join Bitcoin because it is very volatile. The next possibility is that there are some millionaires who are still tech savvy or don't understand the technology that makes it difficult for them to accept and join Bitcoin. That's all I think based on my own assumptions and do not mean to offend anyone.

Actually some millionaires really hate bitcoin as they are afraid because of market manipulation and hackers.Basically hacking cryptos and scamming is the worst part in Crypto.
Just imagine, If anyone gets hacked or lose all funds will he support crypto anymore?
And thats why I think some millionaires hate crypto ane Bitcoin because of manipulation and Crypto hacking.

Millionaires already made millions out of different businesses. So, they have a thinking there is no need of such an innovation called bitcoin. There is also ego in this, because there are lucky people who have invested big on bitcoin and other cryptocurrencies. This has made them to be millionaires within few years time.

I've seen stock analysts who used to say don't invest on cryptocurrency, but on deep analysis I understood it is also a play. Because cryptocurrency provides way for common men turn rich in a short time and the same isn't possible with stock investment in a short.

I've read the article about Buffet, he said that crypto is an unproductive asset. He also said that he would not own bitcoins because he did not believe in bitcoins. The value of bitcoin is just a mirage or not real. If I'm not mistaken he said around 2020. But I'm not sure myself after what happened this year. Or does Buffet say that because he really doesn't understand what bitcoin and its technology are? It seems to be conducting special interviews with the owners of the world's wealth.

Source (https://finance.yahoo.com/news/bitcoins-slump-heres-why-warren-170000851.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAB_pBk5FCmbNEdzbRQV_0OSG85MgkpnY4DpdoVXX1dO-zTb5r0729k2G9OnsHDO2roWNil6DnzgcUUAZOhc5gJLhwBB2tBbTLhbfDJbxPDf6XDd9NsR48bt3Mx7TjAh1prLkOFUketp6C0BMaAT2UK0XBv92KEAZX8DailYsoprw)

They don't need to understand everything they invest in. They can always spend few thousands bucks, hire a specialist and he will calculate whether it is profitable to invest and how much it will be bring, or it is better to stay away from investing. All they have to do is to say yes or no. The reason might be that cryptocurrency is still young and they haven't found a specialist, which opinion about investing in crypto they trust.

How old is crypto ? About 10 years and people started to be interested deeply in it in last 5 years. I think it is hard to raise a real crypto investing specialist in 5 years. There is still not enough data to make trustful future predictions.

I'm sure some millionaires hate bitcoin because they feel that bitcoin is a competitor and will make their comfort disturbed, as we know that today many millionaires are actively paying various media and sources to create negative opinions about bitcoin so that many people don't want to know bitcoin.

I was read a crypto data report from research firm bitinfocharts. According to figures as of early 2021, there are about 100,000 people with 1 million USD or more accumulated in their bitcoin accounts. Of which, more than 8,000 have 10 million USD of Bitcoin or more. Obviously, bitcoin has been creating a lot of millionaires and billionaires quickly. Rich people will not like this because they always want them to be unique and unique. With the growth and increasing demand of bitcoin, the millionaire created by bitcoin will not stop they will not stop hating bitcoin and finding ways to drown bitcoin.

they don't understand bitcoin, they also don't understand crypto performance, rich people are used to fiat currency, that's why they hate bitcoin, but I think if they understand and understand bitcoin, they will definitely play in krypto money, indeed play in crypto have risk, that's why people are afraid of crypto, they are afraid of risk..

Crypto made a lot of people rich in very short period of time and still can be one of the most profitable investments. Trust me, most people with money will do everything to make sure others don’t get rich, because each next millionaire makes their money worth little less. Greed is the driving force of humanity.

Those from the millionaire section can only manipulate to influence the bitcoin market, but will not fully regulate bitcoin, because in fact bitcoin will not be fully regulated by anyone.
Bitcoin is indeed being hype and is getting more and more enthusiasts. Bitcoin is becoming a very valuable digital asset today, there are many opportunities that exist in bitcoin or in cryptocurrencies, don't waste this opportunity.

1. Bitcoin's decentralization will not be controlled by anyone, and funds are privately owned by users. They hate the decentralized nature of Bitcoin because they cannot control it to profit from it or pose a threat to their economy.
2. They use traditional economic methods, do not understand Bitcoin technology, and cannot quickly obtain high profits or even losses by investing in it.

The way people start accepting bitcoin and making profit from bitcoin i think those still hating bitcoin by knowing it’s potential are in loss. They will regret by the end of 2021 when bitcoin will be trading at 100k$. The time is near when people wants to buy bitcoin but there will be no bitcoin in the market due to holding of coins by big names like elon musk, El salavador president etc.

Millionaires hates bitcoin ? but they also invest on this to profit? we already know how many Millionaires or even billionaires investing in this market because of the volatility in which they can play the value.
but there are also some who hates because of that same reason of volatility .

Rising up and down in value is why some of them hates this market .

I agree that the reason for Bitcoin's volatility is that many millionaires hate Bitcoin, it's because they don't understand that it can actually make Bitcoin traders and investors profit. 
But not a few Millionaires in this world who study Bitcoin and finally they invest here and finally they get big profits.

Here are some reasons millionaires hate bitcoin:
1. Technology: Most of the millionaires lack internet because they are not well educated in technology. Bitcoin is a digital currency which require technology to make the investment successful.
2. Not popular: millionaires hate bitcoin because is not too popular like fiat money which they are use to in the community. They are use to fiat money in all their investment.
3. Risk: They hate bitcoin because of the risk when the price of bitcoin decrease without any signs to the customers. Digital currency is not control by the government which it can dump and pump at anytime.
4. Decentralized: Millionaires hate bitcoin because is not control by a particular country.

I think millionaires hate Bitcoin because they don't have time to think and learn about bitcoin, they are busy with bigger things than investing in Bitcoin.
Regarding technology, I think millionaires have it. How can someone who becomes a millionaire if do not know about technology, especially the internet?

They hate Bitcoin because they lack encryption knowledge and don't really understand the value of Bitcoin.

Bitcoin price volatility is risky, and they are afraid of losing their money when the price falls.

many millionaires hate bitcoin because they did not believe bitcoin and they are not invested in it. many young entrepreneurs prefer investing in bitcoin which is bad news to millionaires because no one is investing in the normal stock market meaning that the value of their stocks will start to depreciate in value.

there is always a problem here because it is very natural, when they are not in crypto and choose something else that they think is more profitable than bitcoin they will definitely feel very threatened when they see bitcoin go up and they will definitely feel the effort they are doing will be disrupted by the existence of bitcoins.
then it is not wrong for them to do that because according to them as long as their business is smooth and without any disturbance they will not protest and refuse something, but when there is one whose value is far compared to the effort they are doing they will definitely do everything they can to hold back and refused very vehemently, and now it is happening with crypto especially bitcoin which is indeed getting stronger and bigger the longer the invasion.

When the pandemic was almost 2 years of course making all types of investments including stocks drop, people prefer to invest practically and can make daily profits so they choose bitcoin, besides that millionaires hate bitcoin because they think bitcoin is a competitor from their convenience so by all means they will make news negative about bitcoin.

I think only a few do that. and many are actually from rich people who are curious and are getting interested in bitcoin. most of the haters are those who feel threatened by development or their unpreparedness to use better technology.
some don't want to know because the regulations in their country don't allow it. and I don't think the rich people are going to take the risk.

We can say most millionaires are skeptical of Bitcoin, because it's fairly new to the mainstream world. As time goes by, the crypto/Blockchain space will mature enough until it brings the confidence of wealthy people. Regulating the crypto market will surely bring some sense of security to big investors and traders alike. Right now we have Elon Musk and Mark Cuban in the game. But there will be more to come as Bitcoin increases in popularity worldwide. Those who invest into Bitcoin now, will see the benefits in the long term.

Nonetheless, it doesn't matter who hates or who loves Bitcoin. What really matters is decentralization. As long as Bitcoin remains a decentralized cryptocurrency, it will stand the test of time. Just my thoughts ;D

Some of the reasons they hate Bitcoin is because they don't want other people like the average person to have the opportunity to become a millionaire in the simple step of owning Bitcoin. It has not been proven that since the existence of Bitcoin. And affected by some FUD previous ponzi projects made them lose faith and hate Bitcoin even more because they think it is a scam and they will lose all the money invested in bitcoins like ponzi projects that embrace money and evaporate.

Interestingly while some millionaires hate BTC, some are very much excited about BTC. If you can't decide what to do, take a bag of popcorn and be a spectator. Personally I think technology aversity is the main reason of hating BTC.

They wont really become millionaires if they arent really that good on investment and its true that they would really be that skeptical when it comes to crypto investment specially with Bitcoin.
It is just a decade old and i cant really blame them for them to be hesitant or have doubts when it comes to this.For sure they would really be studying into something which might really poke
up their interest so its up to them whether they do love to jump in or would really stay up to be neutral or rather be hateful on bitcoins existence.

Some people like everything and some people hate it. In 2017, I bought 5 bitcoins at a price of 4,000 US dollars. Now I sell them at a price of 60,000 US dollars. I went from a girl with nothing to a rich man. People, and some people buy when the price is 60,000 US dollars, and then when the price drops to 30,000 US dollars, then there is a different result at this time

There is a saying, if you invest in a field you don’t understand, you will definitely lose your money. These rich people understand this truth. They don’t have the initiative in the encryption field, only passive, and their investment is likely to suffer a sickle.  And they have no way to protect their wealth!

Perhaps those billionaires believed they knew everything, especially about investment. They definitely don't like it since BTC is so volatile. On the contrary, several early BTC bagholders have gone on to become millionaires. They think of bitcoin as a way to invest in conventional and antique items. Despite the fact that cryptography is comparable, it is not the same. It is not incorrect that they have such a difficult situation. Those that despise Bitcoin do so for a variety of reasons. The most reasonable answer, in my opinion, is that the money they obtain has nothing to do with Crypto; they are quite content with what they have.

There is a greater risk of Bitcoin price instability. They cannot control Bitcoin, nor can they quickly obtain huge profits from it, or even suffer economic losses. They prefer government-supported and profitable projects.

Billionaires are of the view that bitcoins or any other cryptocurrencies are an unproductive asset and don't have a ‘real’ value. I don’t really agree with their thoughts. I think that they aren’t ready to take the risks of incurring losses and that’s why they go for the safest mode of earning which has less chances of giving losses.

They hate bitcoin because they dont really understand the real potential of crypto currency therefore they are more focus on their businesses and no time to understand to study crypto currency. We all know that its not easy to understand and to study how the blockchain works and for me thats the reason why some other millionaires not really hate but they dont have idea what it is.

They hate bitcoin not because they don't understand this instead they don't like the idea of Volatile market but decentralized .
they like business and investment that Government can take part and this is what we really hate  ;D

But eventually ? like what happening now that there are millionaires and Billionaires that entering our market in good faith.

meaning their understanding and support are indeed coming towards crypto now against banking system.

You are right the millionaire who hates Bitcoin because they don't understand how the crypto world works, and because they are already rich,
so they feel no need to learn new things. It's their right to hate Bitcoin, because we can't get everyone in the world to like Bitcoin. There will
definitely be people who hate  Bitcoin, even though there is plenty of evidence that Bitcoin can make a lot of money. That doesn't make some
millionaires accept Bitcoin. We don't need to worry about that, because not all rich people hate Bitcoin.

Actually they are in fear of BTC. But when we saw the 2T+ market cap in this platform, we can not reject the crypto platform. Basically acceptance and rejection will be go side by side and we have to wait for long term as we are small investor. Those who are rejecting today's BTC or crypto market, we have to bear in mind that they can take entry at any time in this market as they are millionaire. So Don't wait for that and go with present market.

Why would they fear ? They can also invest in Bitcoin or in any other cryptocurrency and earn. Why would someone fear of getting profit? Fear is not the reason imho.

But jealousy and loosing individuality can be one of the reasons. I think it was mentioned already here, but I will repeat. Imagine you live in a neighborhood for 10 years, where everyone drives gray Toyota Prius, and you have red Ferrari 458 Italia. Then one day you wake up and see that a neighbor has parked his red Ferrari 458 Italia next to yours. First you will be impressed, but when in next few days Lamborghinis and Bugattis appears around you, you wont be that happy.

Maybe they fear because many governments still do not support Bitcoin. All governments use Gold and Fiat currencies in growing their country's economy and that is why those rich people trust Gold and Fiat currencies but not Bitcoin and other Cryptocurrencies.

In general, the statements and actions of the wealthy, prestigious group are very important for the emerging Bitcoin market. Bitcoin investors who want the cryptocurrency to increase in value often wait for positive signals from this group of people. Some millionaires hate bitcoin because it is a decentralized currency and they hate things over which they cannot have full control. Another fact they hate is high volatility, It's great that such volatility brings huge profits, but it will be a big pain if the coin price drops and the investment is big. On the other hand, some of them argue that Bitcoin has essentially no real value. They make no products. There's nothing you can do with them but sell them to someone else, the world is full of people rushing and snapping, It's not that Bitcoin doesn't really work, but it's too hard for people to understand, too hard to access. , and it would take too much effort to explain to someone why Bitcoin is optimal.

I don't agree with your opinion that the billionaire's fear of bitcoin is not because there is no support from the government, isn't bitcoin not dependent on the country, from the first bitcoin was created by satoshi nakomoto bitcoin is not accepted in any country but it is proven that bitcoin can rise without the support of the government , so the reason bitcoin is feared by billionaires is not because it is not accepted by the government.

Being a millionaire in my currency, I can answer this question pretty well. So my simple answer is, the way the price of bitcoins increase and decrease there's always a remote chance that all the money I invest might get lost. I just can't trust a currency which is yet not regulated by RBI in India.
That is the only concern!

Base on your point, it seems you are not into Investments or trading. What you have said didn't tackle why millionaires hate Bitcoin.

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So I'm not that quite sure, why would they hate Bitcoin? To be honest, there are a lot of rich people who invest and have their own shares of Cryptos. They may not be publicly out for it, but surely they have one. Plus, given that they can afford to have one, and can somehow evade Taxes which is somehow an advantage to them also being anonymous with it.

Those millionaires that hate bitcoin are those people who are not use to digital currency in their communities. They don't have any knowledge about decentralized currency and how they can use it to improve their investment. They are afraid base on the information they got from their government by making it ilegal in the country. Because bitcoin is not a centralized currency that is control by the government.
Bitcoin don't give any signs of dumping to it users which is the reason why many millionaires hate it. They prefer to invest with fiat money they understood very well and also know when it will increase and decrease in the market.

Base on your point, it seems you are not into Investments or trading. What you have said didn't tackle why millionaires hate Bitcoin.

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So I'm not that quite sure, why would they hate Bitcoin? To be honest, there are a lot of rich people who invest and have their own shares of Cryptos. They may not be publicly out for it, but surely they have one. Plus, given that they can afford to have one, and can somehow evade Taxes which is somehow an advantage to them also being anonymous with it.
[/quote]
That is right. Most rich people may not show their ownership of some Bitcoin, or they probably sometimes do certain things to make FUD and spread it to the crypto world, Then, when the price has been down, they can buy more and pump the price again with good news.
This is actually commonly done by the whales to pump and dump the price.
A millionaire will not matter losing some small money and commonly they will prefer to hold for a long term, even they are doing daily trading, they will not do it by themselves. They can use advanced trading both with AI technology that costs very high. But, it can really work very well.

Additionally, some rich people may not like Bitcoin because they feel that this is about the economy and finance in worldwide, they cannot control the money again, they cannot think again they are the richest people in the world. or they cannot control the financial systems around the world.
Moreover, it is about the world bank system, it is contrary to crypto

at this point in their view bitcoin seems heavy to be used according to its original function as a currency. Moreover, they think it will be difficult if the government leaves the centralized system, which can be controlled. In other words, bitcoin doesn't seem to have a real function in life, so they think bitcoin is risky for their investment, although not all rich people think like that

It is relative simple really if you come think of some reason why they don't like it, and why they do not want to participate in it. Technology is something these people do not understand and they do not want to participate into something they do not understand or something they intentionally do not want to engage with . These people literally ignores Bitcoin and they deliberately do their part in talking trash on Bitcoin.

To my little understanding, I think some of the wealthy people hate bitcoin basically because it helps the poor people to get easily rich to the standard of meeting them at their caliber.

I haven't heard this, may be I was late or something, but can someone explain me what's the risk does he mean? I don't understand, I think bitcoin is yeah like the others having positive and negative sides, usd too, so If saying bitcoin is too risky especially for usd, I don't think so

many millionaires find themselves guilty . because in the past they hate bitcoin and deny the idea of profiteering and now that the value strikes high?
they cried many tears not to invest on this.
i have a friend who's a millionaire that denied me years ago when i tried convincing him to invest here , but now? he is the one whos asking me to teach him strategies on how to manage increasing his profits here.

 The reason they don't like cryptocurrencies is simple: it threatens them. The advent of cryptocurrencies gives a lot of people an opportunity, but along with that opportunity comes a threat to a lot of people

we also can't blame them, in the past maybe many people didn't believe it because there was no legal certainty about its legalization, so security was doubted. On the other hand, everyone's understanding of the development of the era is also different, so they will regret it when they don't do it as soon as possible in the past

This could be the reason because usually an old millionaires earned their wealth through ups and down in decades but there are some young millionaires flexing their sport cars on social media because of cryptocurrency or bitcoin.
But i think the millionaires who hate bitcoins is in fear that their old business model no longer work well if the world is changing into decentralized based when people are using bitcoin or cryptocurrency.

Most of those Millionaires have businesses which attached with the institutional financial system, with how they enjoy the current system it will be hard for them to switch and embrace a new idea of payment process. It will take time before these people will convince that there's a good potential for this system. They always look for long term and for them, Bitcoin still has a high risk.

Maybe some already acknowledge the benefits and in behind already have engagements, but for most of them they are still looking for more profit that Bitcoin will stay for long, doubts continue inside them knowing that innovation continues to grow in each venue of technology.

The main reason according to my point of view,
Cryptocurrency has no backing entity, and no certainty. It isn’t even very easily predicted since it isn’t tied to real world assets. Money and investors like predictability. Something new is not going to be a popular investment, and likely will take decades to develop a reliable enough track record to become a traditional investment.

There are some conservative people who believe only in traditional finance instruments such as gold, stocks, bonds. They don't want to try anything new and more risky, they are afraid of risks. Personally I don't agree with such approach, as crypto is much more profitable than stock market or any other and if you learn this market and develop your skills, it will yield profit.

Simple answer. They're privileged and think that it's not needed because, in the current economy, they have the ability to control the market, they're the whales of the current economic system. With cryptocurrency, having a decentralized market, we can freely do what we want and earn money by investing and that's a great opportunity for us and rich people hate it because the investments here in crypto are just small compared to their investments in businesses. They just want to be in control and want to take advantage of all of things while being rich, that's how they think right now. Look what happened to Elon, a rich person who entered crypto just because he wants to gain more and now that he gained a lot and more popularity, he created a fud in bitcoin.

I think it's because bitcoin is a relatively new concept that they have a difficult time wrapping their heads around. Plus the growth of bitcoin/crypto has been something that they have never really seen anywhere else in their lives/careers.

Millionaires hate Bitcoin because they haven't make a try to invest in Bitcoin to see how Bitcoin works and it's opportunity and they think they have it all no need to go into what they aren't sure of.

I agree with Mr.sprin, bitcoin does not depend on the government because bitcoin is not the creation of the government. The government has its own reasons for not supporting bitcoin, including falling local or fiat currency prices, reducing interest in other investments such as gold, oil and so on. The shift of investors from institutional to blockchain could bring down the companies they previously invested in.

IMO the reason why millionaires hate bitcoin because they typically use fiat to make more fiat, introducing a crypto currency accepted globally undermines their purchasing power by taking away their fiat demand.

As I understand it Warren Buffet probably "dislike" crypto currency as he "dislike" investing in gold. These investments are zero sum games, they don't create value. The rise in value of crypto currency and gold is just the result of offer and demand competition and may vanish in a snap the next day. It's just an investment policy.

They're simply "jealous" about Bitcoin, because it's making young people millionaires at a fast pace. The gains with Bitcoin are a lot higher than Fiat. Most millionaires are quite fond of the current monetary system empowered by central banks and governments alike, so it's quite normal to see them against Bitcoin. What matters is not what a few wealthy people think about Bitcoin, but rather what the majority thinks about it.

Regardless of the criticism thrown against Bitcoin, the cryptocurrency is still standing strong with a loyal community backing it every step of the way. Decentralization and censorship-resistant will ensure Bitcoin will last a lifetime. This is what matters above all else. Only those who invest into Bitcoin early will be able to reap the benefits in the future. Just my opinion :)

But not all millionaires hate bitcoin, maybe those who are not really into new technology, those who are using a conventional way of investing, or those who do not innovate, it's okay mate, some people hate and some people love bitcoin, what matters is bitcoin is successful already.

As for me, everything is trite. After all, many were able to get rich just on this. And in the end, someone is simply angry that he earned money by honest and hard work, and someone quickly and without problems.

The existence of bitcoin may be the biggest rival of their business. However, they may also be in a comfort zone with their business. So they panicked when the arrival of new financial technology. Sooner or later they will definitely try to accept it.

apart from that, of course, we all know that warren is one of the investors and even the largest shareholder in Berkshire Hathaway.
when someone like this with the status as the largest shareholder in a company based in life insurance which has many subsidiaries of course we think something about this.
although in this case crypto investment with the shares of the company he manages has nothing to do but talking about investors I think there will be a slight difference.
there are so many people who switch investments and adopt crypto especially bitcoin at this time and indirectly when this continues it will definitely have an impact on everything in the form of investment because indeed many people are switching professions.
although the impact received is not that big but of course they will have rivals and their competitors are getting bigger and bigger. indirectly this is a threat of course.

What Im thinking is, contrary to what millionaires are saying about btc, they are secretly buying amounts of btc, of course they are aware of this technology they have researchers to advise them what to do whether to ignore or invest, they are business minded people, they don't want to left behind especially when it comes to money, they are always ahead from other people because of their influence, so I dont think they really hate bitcoin.  

Which millionaire are you talking about? Is it Celia from that nearby donut shop? Because Elon Musk, Brian Armstrong, Mark Cuban, Dan Morehead and other dudes love crypto and have invested a big share of their wealth into it.

Different peoples has different opinion. I think for market volatility,is one of major cause. Many peoples see decentralized finance as a hub of do illegal activists and govt. thinks that Bitcoin would be a safe tax haven due to unregulation of whole ecosystem.