What do the Super Rich (1%) Think of Bitcoin?

[EditorK]

Everyone in 2018 is talking about the potential of cryptocurrencies since the mysterious Satoshi Nakamoto released a nine-page paper explaining the technology in 2009.
All have their opinion about its approximate 743 percent gain in the past 12 months.
Here are statements from people considered as Richest 1%:


HOWARD SCHULTZ, Starbucks Corp. Chairman and Founder on 01/25/2018:
“I believe that we are heading into a new age in which blockchain technology is going to provide a significant level of a digital currency that is going to have a consumer application. And I believe that Starbucks is in a unique position to take advantage of that.”


WARREN BUFFETT, Chief executive officer, Berkshire Hathaway Inc. and billionaire investor on 10/29/2017:
“People get excited from big price movements, and Wall Street accommodates … You can’t value Bitcoin because it’s not a value-producing asset.” It's a “real bubble.”


PETER THIEL, Co-founder, PayPal and billionaire venture capitalist on 10/26/2017:
Bitcoin critics are “underestimating [it] … It's like a reserve form of money, it's like gold and it's just a store of value. You don't need to use it to make payments.”


BILL GATES, Co-founder, Microsoft Corp. on 10/02/2014:
“Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”



By the way, What do you think about the Bitcoin?
Write what you think about bitcoin in comments. Let's see what people over here have to say about bitcoin.

[Msile]

Bill Gates said it is an "exciting" invention.

Elon Musk said that Bitcoin “is probably a good thing”

John McAfee said: "I don't know if it will be Bitcoin or multiples [of different currencies] but there will be a cryptocurrency standard for the world whether governments like it or not."

On the other hand, some affluent people are skeptical. For example, back in 2014, Warren Buffett said:

"It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view."

I don’t know what he thinks about Bitcoin now, but since his interview the market cap of Bitcoin has grown massively.

[arienna23]

It's funny that to be in the world's top 1% earners, you need to earn just $34k per year. If you're an average earner in the US or Western Europe you are probably "super-rich" by that definition.

Multimillionaire superstar entrepreneurs such as Richard Branson or Marc Andreessen are backing bitcoin. Just to name two. I think most of the super-rich will have strong opinions against anything that can threaten the economic status quo in such a radical way as Bitcoin has the potential to.

[Wind_FURY]

OP, instead of wasting your time in making these kinds of topics, why not start reading about the history of Bitcoin, its politics and what makes Bitcoin "Bitcoin".

I believe you would get more merits for that if ranking up is what you want.

A good way to start is to search about "Bitcoin vs. Bitcoin Cash politics" online.

[oceantiger]

This is good to the bitcoin community. Hope rising statements by those gurus in business. Therefore it means that bitcoin has come to stay and remains the future of all financial transactions.

[First77]

Only 8% or 25,000,000 Americans have Bitcoin.

1 US Dollar = 120 Japanese Yen. Who will buy Bitcoin in other countries ??

At $800, bitcoin gets seriously considered against Gold. Super-rich people will buy gold, land, houses/mansions, factories, businesses (hotels etc..). That is how they made their money.

[Harribel03]

Two kinds of people in touched in cryptocurrency:
1. Supporters
2. Haters.
They have their own goal why they are putting their own words in cryptocurrency.
Supporters want cryptocurrency to rise up and bullish by the community. They speculate good feedbacks about cryptocurrency because they want their supporters to join at the trend.
Haters are bashing bitcoin for the community to withdraw from cryptocurrency. Most of the time, they tell it if they want to buy coins.
In the world of crypto, we should not hear any rumors even in celebrities or analysts. They just confusing our minds and direct us from what we will do. It is kind of marketing strategy and most of the time, panic sellers follow it.

[gtx1060aa]

Two kinds of people in touched in cryptocurrency:
1. Supporters
2. Haters.
They have their own goal why they are putting their own words in cryptocurrency.
Supporters want cryptocurrency to rise up and bullish by the community. They speculate good feedbacks about cryptocurrency because they want their supporters to join at the trend.
Haters are bashing bitcoin for the community to withdraw from cryptocurrency. Most of the time, they tell it if they want to buy coins.
In the world of crypto, we should not hear any rumors even in celebrities or analysts. They just confusing our minds and direct us from what we will do. It is kind of marketing strategy and most of the time, panic sellers follow it.

Any technology has both supporters and detractors and with crypto currency since someone on this has lost everything, but who on the contrary got everything)

[talkbitcoin]

it doesn't really matter what they "say they think".
what matters is what they really thing and also what they are really doing! for one thing, these millionaires don't mind the centralization of money. that is how they live. for another they won't publicly announce where they are parking their money anonymously

[Kakmakr]

Only 8% or 25,000,000 Americans have Bitcoin.

1 US Dollar = 120 Japanese Yen. Who will buy Bitcoin in other countries ??

At $800, bitcoin gets seriously considered against Gold. Super-rich people will buy gold, land, houses/mansions, factories, businesses (hotels etc..). That is how they made their money.

Which one of these < gold, land, houses/mansions, factories, businesses &hotels > gave them a 800% return on their investment in 2017? These people make use of some of the best financial experts to manage their investments and if you ask these people, they will tell you that Bitcoin was the best performing Currency & Commodity for the last 3 years.

If you ignore that, you are stupid and not worth the money that these rich people are willing to pay for good financial advice.

[Washball]

This shows that old school investors like Warren Buffet do not appreciate Bitcoin like those who made their fortune with modern technology. Like what we've heard recently about an investor in China, Can Wensheng, who started with 1 Bitcoin in January and then bought 10.000 bitcoins when the price had dropped. He must have invested at least $60 million. Now these bitcoins have a value of approximately $100 million.

[brickafterbrickwalldpt]

I'm not so sure about Bill Gates. He used to say a lot of positive things about Bitcoin and other cryptocurrencies, but recently he complained that they are used for drugs dealing and selling other illegal things. I have no idea why he has changed his mind. Should we really bother with what he says now? I don't think so. We don't need wealthy people to praise Bitcoin, governments will do whatever they want anyway. When Gates changed his mind, I remember that a lot of members of crypto community were laughing at him. No wonder why.

[bitcoinman93]

Everyone in 2018 is talking about the potential of cryptocurrencies since the mysterious Satoshi Nakamoto released a nine-page paper explaining the technology in 2009.
All have their opinion about its approximate 743 percent gain in the past 12 months.
Here are statements from people considered as Richest 1%:


HOWARD SCHULTZ, Starbucks Corp. Chairman and Founder on 01/25/2018:
“I believe that we are heading into a new age in which blockchain technology is going to provide a significant level of a digital currency that is going to have a consumer application. And I believe that Starbucks is in a unique position to take advantage of that.”


WARREN BUFFETT, Chief executive officer, Berkshire Hathaway Inc. and billionaire investor on 10/29/2017:
“People get excited from big price movements, and Wall Street accommodates … You can’t value Bitcoin because it’s not a value-producing asset.” It's a “real bubble.”


PETER THIEL, Co-founder, PayPal and billionaire venture capitalist on 10/26/2017:
Bitcoin critics are “underestimating [it] … It's like a reserve form of money, it's like gold and it's just a store of value. You don't need to use it to make payments.”


BILL GATES, Co-founder, Microsoft Corp. on 10/02/2014:
“Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”



By the way, What do you think about the Bitcoin?
Write what you think about bitcoin in comments. Let's see what people over here have to say about bitcoin.

as with everything, there are too many different opinions also on cryptocurrency. Usually I would say these people say whatever works for their personal interest the best. It's up to us, community members, to make bitcoin success

[lizardbtc]

On the other hand, some affluent people are skeptical. For example, back in 2014, Warren Buffett said:

"It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view."

I don’t know what he thinks about Bitcoin now, but since his interview the market cap of Bitcoin has grown massively.

Of course that everybody can change their opinion. You have to not forget one thing Buffet is an investor and giant investors such as him don't like to "gamble" on high risk investments. He does one thing great and he doesn't have to look for other opportunitites in crypto + he knows it is not an easy task when you see prices moves so quickly. We can say that this scene is bubbling up because of the fact that you have many usless alts that are there for no reason but because they can be worth something from somebody to profit.

[Xester]

In relation to bitcoin the Big Financial Giants have different sides of the story when it comes to bitcoin. But it does not only apply to them but also to the majority of the society, the poor and the average individuals. And so there are only two ideas when it comes to bitcoin its either is useless or bitcoin is the future of the economy. But regardless of what reason the rich people may be I do believe that bitcoin have changed my life financially and saved me from drowning in debts.

[AliMan]

In relation to bitcoin the Big Financial Giants have different sides of the story when it comes to bitcoin. But it does not only apply to them but also to the majority of the society, the poor and the average individuals. And so there are only two ideas when it comes to bitcoin its either is useless or bitcoin is the future of the economy. But regardless of what reason the rich people may be I do believe that bitcoin have changed my life financially and saved me from drowning in debts.

Rich people like them are those who are not scared of technology. Actually they are promoting a modern society - the way we live now is because of them. These people, based form their opinions,  supports bitcoin as the first future digital currency that will be used by mankind for a very long period of time.

[5ensei]

These billionaires got rich because they are intelligent and work hard for their money. Bitcoin millionaires simply got lucky by believing in the hard work of someone else's vision. I agree with Mr Gates in that bitcoin is the future and all of it's altcoin variants. Getting bitcoin / altcoins now will be profitable in the future

[BitcoinHodler]

they curse bitcoin because whenever they want to buy it (or in other words dump their worthless fiat for bitcoin) they encounter a lot of issues because the exchanges are too small and the other ways are too risky and hard. so they lash out publicly and spread some FUD too in order to keep it low so they can slowly dump their fiat

[bitbunnny]

I think that super rich people don't have interest for Bitcoin or cryptocurrencies in general. Maybe just very small percantage of super rich would like to invest in Bitcoin. Their focus for money is in some other investment instruments and they find Bitcoin too risky for too small profit for them, often see it as pure gambling.
But with global popularity and acceptance of Bitcoin as well as regulation they might change their opinion.

[jseverson]

Only 8% or 25,000,000 Americans have Bitcoin.

1 US Dollar = 120 Japanese Yen. Who will buy Bitcoin in other countries ??

At $800, bitcoin gets seriously considered against Gold. Super-rich people will buy gold, land, houses/mansions, factories, businesses (hotels etc..). That is how they made their money.

What does the price per unit have to do with anything? Bitcoin is infinitely more divisible than gold, so you can always set a new base unit if all you need to achieve is $800 per unit. Having a set value ignores the economics of it.

But yeah Bitcoin doesn't seem to be on the radar of the super rich at this point. I don't think it has anything to do with how much "better" the other choices are. They simply don't need to take unnecessary risks anymore, and Bitcoin is a risk.