Billionaire investors George Soros, Warren Buffett, and Carl Icahn are non-believers of bitcoin and other cryptocurrencies.
Soros said “cryptocurrency is a misnomer and it is a typical bubble.” According to him, bitcoin is currently used for tax evasion and dictators are maintaining its bubble.
On the other hand, Buffett predicted that bitcoin and other cryptocurrencies will come to a bad ending. Vanguard Group Chairman William McNabb offered a similar opinion that cryptocurrency trading will end very badly. Icahn called cryptocurrencies “ridiculous.”
Visa CEO Alfred Kelly considers bitcoin as a speculative commodity. It is not a payment system. Bank of France Governor Francois Villeros De Galhau shares the same view—it is a speculative asset.
Meanwhile, Federal Reserve Chairman Janet Yellen said bitcoin is not a legal tender. It is a highly speculative asset.
