Why some millionaires hate Bitcoin?

[Luzin]

1. Warren Buffet main area is stock/equity, so that's why he has no interest in BTC. 

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

[TopTort777]

I think some millionaires reject Bitcoin because they themselves do not understand and are not interested in this

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.

[Gudhal Untu]

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.

[Marvell1]

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.

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.

[olib123]

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..

[cevap]

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.

[AakZaki]

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.

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.

[Marcorey]

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.

[CoinFoxs]

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.

[rodskee]

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 .

[Dilladupak]

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.

[Zanab247]

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.

[jakasantosa]

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.
~snip

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?

[Ryder Kudrow]

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.

[blckhawk]

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.

[alpamar99]

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.

[Ngewex Yuk]

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.

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.

[distr@yopmail.com]

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.

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.

[Abiky]

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.

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

[pjwaffle]

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.