Bitcoin Bulls and Bears

Who’s Hot, Who’s Not on Crypto

Updated 2018-01-11 10:38 am

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Bitcoin’s meteoric rise has made it hard for even those in the highest spheres of finance, technology and government to ignore – and many have an opinion about its approximate 1,704 percent gain in the past 12 months. People have debated the potential of cryptocurrencies since the mysterious Satoshi Nakamoto released a nine-page paper explaining the technology in 2009. Here’s a look at who’s on which side and what they’re saying.

Jamie Dimon
JPMorgan Chase & Co. chief executive officer
01/09/2018

“I regret making” comments saying bitcoin is a fraud, Dimon said in an interview with the Fox Business network. “The blockchain is real. You can have crypto yen and dollars and stuff like that.” – 01/09/2018

[Source]

Jurrien Timmer
Director of global macro, Fidelity Investments
11/30/2017

Digital currency is “disruptive, it has a lot of potential but that doesn’t tell us a lot about what these actual instruments are worth ... Even the insiders in that industry don’t really know where it’s going and it’s going to take some time. And for the average investor, you know, buyer beware because you need to do your homework and it’s tough; there’s a very high learning curve to figure out exactly what this all means.” – 11/30/2017

[Source]

Andreas Treichl
Chief executive officer, Erste Group Bank AG
11/30/2017

“I’m not” a bitcoin believer. “My kids think I’m really stupid ... they could have made a lot of money and I didn’t allow them to invest in it ... It’s fascinating but it will make central banks lose control, and they are not going to let this happen. At some point in time, maybe at $20,000, $25,000, $30,000, somebody will say ‘Stop!’” – 11/30/2017

[Source]

Lorenzo Bini Smaghi
Chairman, Societe Generale SA
11/30/2017

“We will discover that behind this bitcoin scam, some funds were channeled maybe to finance terrorism and at that point, we will wake up and realize that this is not appropriate.” – 11/30/2017

[Source]

Jeff Currie
Global head of commodities research, Goldman Sachs Group Inc.
11/29/2017

“I don’t see why there is all this hostility to it.” Bitcoin is “not much different than gold” because it doesn’t have liability attached to it, by definition, like a security. – 11/29/2017

[Source]

William Dudley
President, Federal Reserve Bank of New York
11/29/2017

“In terms of bitcoin, I would be pretty cautionary about it. I think that it’s not a stable store of value ... I would be, at this point, pretty skeptical of bitcoin. I think it’s really more of a speculative activity.” – 11/29/2017

[Source]

Joseph Stiglitz
Nobel prize-winning professor of economics, Columbia University
11/29/2017

“Bitcoin is successful only because of its potential for circumvention, lack of oversight, so it seems to me it ought to be outlawed. It doesn’t serve any socially useful function.” – 11/29/2017

[Source]

Severin Cabannes
deputy chief executive officer, Societe Generale SA
11/03/2017

“Bitcoin today is, in my view, very clearly in a bubble.” – 11/03/2017

[Source]

Lloyd Blankfein
chief executive officer, Goldman Sachs Group Inc.
11/02/2017

“I don’t have an investment in it, but I’m not willing to pooh-pooh it, and that’s why I say I’m open to it.” – 11/02/2017

[Source]

Tidjane Thiam
chief executive officer, Credit Suisse Group AG
11/02/2017

“From what we can identify, the only reason today to buy or sell bitcoin is to make money, which is the very definition of speculation and the very definition of a bubble.” – 11/02/2017

[Source]

Bill Miller
founder, Miller Value Partners
10/30/2017

“I believe there is still a nontrivial chance bitcoin goes to zero, but each day it does not, that chance declines as more venture capital flows into the bitcoin ecosystem and more people become familiar with bitcoin and buy it.” – 10/30/2017

[Source]

Warren Buffett
chief executive officer, Berkshire Hathaway Inc. and billionaire investor
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.” – 10/29/2017

[Source]

Peter Thiel
co-founder, PayPal and billionaire venture capitalist
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.” – 10/26/2017

[Source]

Brian Moynihan
chief executive officer, Bank of America Corp.
10/26/2017

“There ought to be a hard look at the policy of anonymous currencies, because the ability to track information of money flowing is one we use seriously against terrorism and as [a tool] against improper, illegal behavior.” – 10/26/2017

[Source]

Prince Alwaleed Bin Talal
Saudi Arabia billionaire
10/23/2017

“I just don’t believe in this bitcoin thing. I think it’s just going to implode one day. I think this is Enron in the making ... It just doesn’t make sense. This thing is not regulated, it’s not under control, it’s not under the supervision” of any central bank. – 10/23/2017

[Source]

Ben Bernanke
former chairman, Federal Reserve
10/17/2017

“Bitcoin is an attempt to replace fiat currency and evade regulation and government intervention. I don’t think that’s going to be a success.” – 10/17/2017

[Source]

Sergio Ermotti
chief executive officer, UBS Group AG
10/10/2017

“People are more curious than really willing to invest. I don’t think there’s any meaningful desire by high net worth individuals to take big bets on this kind of phenomenon.” – 10/10/2017

[Source]

Kyle Bass
founder, Hayman Capital Management
10/06/2017

“I think it will be an asset class that will work over time. I’m not sure how to value it yet, I really have no idea ... I think there’s a digital gold rush that’s gone on. I think a whole bunch of people are going to lose a lot of money. These ICOs? You’re going to see a bunch of them go completely broke. A bunch of them are frauds, and that’s going to be problematic for all the people that just rushed in. And so I feel like it’s a bit of a mania at the moment, but I think in the long term, it’s a viable asset class.” – 10/06/2017

[Source]

Mark Cuban
billionaire venture capitalist
10/03/2017

Bitcoin’s “value is a function of supply and demand; it doesn’t really do anything else … Blockchain is a great platform for future applications.” – 10/03/2017

[Source]

Larry Fink
chief executive officer, BlackRock Financial Management
10/03/2017

“Bitcoin just shows you how much demand for money laundering there is in the world.” – 10/03/2017

[Source]

Ray Dalio
co-chairman and founder, Bridgewater Associates
09/29/2017

“It’s very much speculative. People are thinking, ‘Can I sell it at a higher price?‘ so it’s a bubble ... With bitcoin, you can’t make much transactions in it and you can’t spend it very easily. It’s not an effective store-hold of wealth because it has volatility, unlike gold.” – 09/29/2017

[Source]

Christine Lagarde
managing director, International Monetary Fund
09/29/2017

“Not so long ago, some experts argued that personal computers would never be adopted and that tablets would only be used as expensive coffee trays. So I think it may not be wise to dismiss virtual currencies.” Countries with “weak institutions and unstable national currencies” may see growing use. – 09/29/2017

[Source]

James Gorman
chief executive officer, Morgan Stanley
09/27/2017

Bitcoin is “certainly something more than just a fad ... The concept of anonymous currency is a very interesting concept -- interesting for the privacy protections it gives people, interesting because what it says to the central-banking system about controlling that.” – 09/27/2017

[Source]

Mike Novogratz
former macro manager, Fortress Investment Group
09/26/2017

“This is going to be the largest bubble of our lifetimes … Prices are going to get way ahead of where they should be. You can make a whole lot of money on the way up, and we plan on it.” – 09/26/2017

[Source]

Vitor Constancio
vice president, European Central Bank
09/22/2017

“Bitcoin is a sort of tulip. It’s indeed an instrument of speculation for those that want to bet on something that can go up and down 50 or 40 percent in a few days but certainly not a currency, and certainly we don’t see it as a threat to central banking or monetary policy, that’s for sure.” – 09/22/2017

[Source]

Elvira Nabiullina 
governor, Bank of Russia
09/14/2017

“China doesn’t recognize cryptocurrency as payment and forbids ICOs … Our views are absolutely similar. In our view, it’s a sort of a financial pyramid that may collapse at any moment.” – 09/14/2017

[Source]

Jamie Dimon
chief executive officer, JPMorgan Chase & Co.
09/12/2017

“It’s a fraud.” If a JPMorgan trader began trading in bitcoin “I’d fire them in a second. For two reasons: It’s against our rules, and they’re stupid. And both are dangerous.” – 09/12/2017

[Source]

Howard Marks
co-chairman and co-founder, Oaktree Capital Group
09/08/2017

“So my initial bottom line is that I see no reason why bitcoin can’t be a currency … But I still don’t feel like putting my money into it, because I consider it a speculative bubble. I’m willing to be proved wrong.” – 09/08/2017

[Source]

Robert Shiller
Nobel prize-winning professor of economics, Yale University
09/05/2017

“The best example [of a speculative bubble] right now is bitcoin.” – 09/05/2017

[Source]

Howard Marks
co-chairman and co-founder, Oaktree Capital Group
07/26/2017

“Digital currencies are nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it." They are "not real!!!!! Nobody has been able to make sense to me of these currencies.” – 07/26/2017

[Source]

Abigail Johnson
chief executive officer, Fidelity Investments
05/23/2017

“I’m a believer. ... I’m one of the few standing before you today from a large financial-services company that has not given up on digital currencies.” – 05/23/2017

[Source]

Haruhiko Kuroda
governor, Bank of Japan
08/23/2016

“Given that the development of financial services has been supported by ledgers as the basic infrastructure for information, the dramatic changes in how ledgers are kept may have the potential of significantly changing the structure of financial services.” – 08/23/2016

[Source]

Mark Carney
governor, Bank of England
06/16/2016

“If distributed-ledger technology could provide a more efficient way for private-sector firms to deliver payments and settle securities, why not apply it to the core of the payments system itself? The great promise of distributed ledgers for central banks is their potential to enhance resilience.” – 06/16/2016

[Source]

Ravi Menon
managing director, Monetary Authority of Singapore (MAS)
06/29/2015

“Whether digital currencies will take off in a big way remains to be seen. But it is a phenomenon that many central banks are watching closely, including MAS. And if they do take off, one cannot rule out central banks themselves issuing digital currencies some day!’” – 06/29/2015

[Source]

Bill Gates
co-founder, Microsoft Corp.
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.” – 10/02/2014

[Source]

Richard Branson
founder, Virgin Group
09/10/2014

Bitcoin as a currency “is working. There may be other currencies like it that may be even better. But in the meantime, there’s a big industry around bitcoin. People have made fortunes off bitcoin; some have lost money. It is volatile, but people make money off of volatility, too.” – 09/10/2014

[Source]

Eric Schmidt
chairman, Alphabet Inc.
03/03/2014

Bitcoin “is a remarkable cryptographic achievement. The ability to create something which is not duplicable in the digital world has enormous value.” – 03/03/2014

[Source]

Paul Krugman
Nobel prize-winning professor of economics, City University of New York
12/28/2013

“Bitcoin is evil … So far almost all of the bitcoin discussion has been positive economics — can this actually work? And I have to say that I’m still deeply unconvinced.” – 12/28/2013

[Source]

Milton Friedman
Nobel prize-winning economist
06/21/1999

“The internet is going to be one of the major forces for reducing the role of government. The one thing that’s missing, but that will soon be developed, is a reliable e-cash: a method whereby on the internet you can transfer funds from A to B without A knowing B or B knowing A -- the way in which I can take a $20 bill and hand it over to you, and there’s no record of where it came from.” – 06/21/1999

[Source]

Jamie Dimon

JPMorgan Chase & Co. chief executive officer

“I regret making” comments saying bitcoin is a fraud, Dimon said in an interview with the Fox Business network. “The blockchain is real. You can have crypto yen and dollars and stuff like that.”

– 01/09/18 [Source]

Price on quote date $14,554.08

The $710.41b Cryptocurrency Market

 1

Bitcoin

Symbol: BTC

Price USD: $14,233.6000

24hr Volume: $18.24b

Market Cap: $239.07 b

Available Supply: 17m

Total Supply: 17m

Percent Change 1hr: 3%

Percent Change 24hr: 0%

Percent Change 7d: -5%

 2

Ethereum

Symbol: ETH

Price USD: $1,241.7800

24hr Volume: $8.68b

Market Cap: $120.35 b

Available Supply: 97m

Total Supply: 97m

Percent Change 1hr: 2%

Percent Change 24hr: -8%

Percent Change 7d: 24%

 3

Ripple

Symbol: XRP

Price USD: $2.1583

24hr Volume: $5.70b

Market Cap: $83.61 b

Available Supply: 39b

Total Supply: 100b

Percent Change 1hr: 13%

Percent Change 24hr: 10%

Percent Change 7d: -40%

 4

Bitcoin Cash

Symbol: BCH

Price USD: $2,641.8000

24hr Volume: $2.60b

Market Cap: $44.66 b

Available Supply: 17m

Total Supply: 17m

Percent Change 1hr: 2%

Percent Change 24hr: 0%

Percent Change 7d: 9%

 5

Cardano

Symbol: ADA

Price USD: $0.7498

24hr Volume: $255.52m

Market Cap: $19.44 b

Available Supply: 26b

Total Supply: 31b

Percent Change 1hr: 7%

Percent Change 24hr: 1%

Percent Change 7d: -37%

 6

Litecoin

Symbol: LTC

Price USD: $240.9350

24hr Volume: $1.10b

Market Cap: $13.18 b

Available Supply: 55m

Total Supply: 55m

Percent Change 1hr: 2%

Percent Change 24hr: -1%

Percent Change 7d: 3%

 7

NEM

Symbol: XEM

Price USD: $1.4463

24hr Volume: $95.45m

Market Cap: $13.02 b

Available Supply: 9b

Total Supply: 9b

Percent Change 1hr: 6%

Percent Change 24hr: 0%

Percent Change 7d: -19%

 8

Stellar

Symbol: XLM

Price USD: $0.5603

24hr Volume: $282.76m

Market Cap: $10.02 b

Available Supply: 18b

Total Supply: 104b

Percent Change 1hr: 8%

Percent Change 24hr: 4%

Percent Change 7d: -31%

 9

IOTA

Symbol: MIOTA

Price USD: $3.5422

24hr Volume: $280.87m

Market Cap: $9.85 b

Available Supply: 3b

Total Supply: 3b

Percent Change 1hr: 0%

Percent Change 24hr: 2%

Percent Change 7d: -11%

 10

Dash

Symbol: DASH

Price USD: $1,066.3600

24hr Volume: $196.61m

Market Cap: $8.33 b

Available Supply: 8m

Total Supply: 8m

Percent Change 1hr: 3%

Percent Change 24hr: -1%

Percent Change 7d: -10%

 11

NEO

Symbol: NEO

Price USD: $116.4100

24hr Volume: $299.78m

Market Cap: $7.57 b

Available Supply: 65m

Total Supply: 100m

Percent Change 1hr: 2%

Percent Change 24hr: -3%

Percent Change 7d: 14%

 12

TRON

Symbol: TRX

Price USD: $0.1140

24hr Volume: $1.28b

Market Cap: $7.50 b

Available Supply: 66b

Total Supply: 100b

Percent Change 1hr: 4%

Percent Change 24hr: 5%

Percent Change 7d: -37%

See Top 100 Currencies +

Reporter: Camila Russo

Editor: Melinda Grenier

Producer: Thomas Houston

Development: James Singleton

Historical bitcoin prices provided by Bloomberg XBT CRNCY terminal ticker

Current bitcoin price data provided by CoinDesk

Cryptocurrency market capitalizations provided by CoinMarketCap

All prices on page are updated once per minute

*This data was produced from the CoinDesk Bitcoin Price Index (USD). Non-USD currency data converted using hourly conversion rate from openexchangerates.org