Tesla CEO Elon Musk publicly endorses the cryptocurrency. JP Morgan CEO Jamie Dimon believes Bitcoin to be a “fraud”. Alphabet and Google CEO Sundar Pichai has revealed that he doesn’t own any digital parts, adding that he wants to. But whether or not executives believe in the potential of Bitcoin, Ethereum, or blockchain technology, they can’t ignore cryptocurrencies.
Although it is only a little over a decade old, the cryptocurrency has gained enormous popularity. Cryptocurrencies have collectively reached a valuation of over $ 3.3 trillion, beating big companies like Apple and Microsoft, according to pricing from CoinGecko.
Global crypto adoption over the past year has been explosive, with over 300 million investors worldwide. Here we list what global CEOs think about cryptocurrency.
Warren Buffett, American tycoon and CEO of Berkshire Hatchway, has a reputation for investing in stocks whose value and cash flow comes from the production of things. But cryptocurrencies don’t have any real value, Buffett said in an interview with CNBC in 2020. “They don’t reproduce, they can’t send you a check, they can’t do anything, and so do you. hope is that someone else comes along and pays you more money for them later, but then that person has the problem. He does not pass the test of a coin, “the billionaire, cited by CNBC in 2014.
“It is not a sustainable medium of exchange, it is not a store of value.” He added that although cryptocurrency is a very efficient way to transmit money anonymously.
But he also drew an analogy with checks, saying that they are also a means of transmitting money, but should be worth a lot, simply because of the ability to transmit money.
Apple CEO Tim Cook has revealed that he is a crypto investor and owns digital coins. Cook was responding to Andrew Ross Sorkin, who hosted the two-day New York Times online summit. Apple’s CEO shared his thoughts on the hot topic of cryptocurrencies such as Bitcoin.
However, Cook rejected the idea of accepting cryptocurrency through Apple Pay anytime soon. He explained that Apple is “examining” crypto, but has no plans to launch such a feature in Apple Pay.
Speaking of Apple stocks and cryptocurrency, Cook noted that Apple was not considering investing in cryptocurrency as a business because it believed shareholders of Apple Inc were not buying its. stocks to gain exposure to crypto.
Alphabet and Google CEO Sundar Pichai opened up about his cryptocurrency plans and revealed he doesn’t own any, adding that he wants to, in an interview with Bloomberg Television. “I touched it, you know, inside and out,” Pichai said.
Interestingly, Pichai said in 2018 that his 11-year-old son was mining Ethereum cryptocurrency on the family PC at home. “Last week I was having dinner with my son and I was talking about something about Bitcoin and my son clarified that what I was talking about was Ethereum which is slightly different,” Pichai exclaimed. . ” He is 11 years old. And he told me he was exploiting it.
Elon Musk is the most influential person in the cryptocurrency community despite constantly poking fun at crypto on Twitter. In January 2021, he added “#Bitcoin” to his Twitter bio, pushing the coin’s price up by 25%.
In February of this year, when Musk announced that Tesla had bought Bitcoin worth $ 1.5 billion, the cryptocurrency rose 20% in one day. A few days after writing “Dogecoin is the people’s crypto” it caused Dogecoin to suddenly jump 50% in one day. Overall, Dogecoin has seen a 15,000% jump in one year.
In the first week of October this year, the Shiba Inu dogecoin-derived coin jumped 30% after a tweet from Elon Musk. Musk has a dog named Floki, who is a Shiba Inu, a breed of Japanese dog. Obviously, Musk has a big influence in the cryptocurrency market.
Jack Dorsey, CEO of Twitter and Square, is a Bitcoin investor. His love for cryptocurrency dates back to 2017, when he started championing Bitcoin as the centerpiece. When the crypto market collapsed in 2018, Dorsey was unfazed, calling Bitcoin the future global currency, although digital currency was at its lowest level in several years. In March 2019, Dorsey said he was spending several thousand dollars every week to buy Bitcoin.
Endorsing blockchain technology for payment transparency, Dorsey released the white paper of its decentralized Bitcoin exchange proposal, tbDEX. Earlier in August, Dorsey confirmed to investors that bitcoin will be a “big part” of the company’s future.
For Jamie Dimon, the boss of financial giant JPMorgan Chase & Co., Bitcoin is simply “a fraud”. Dimon is not a fan of Bitcoin, the largest cryptocurrency by market value.
“Personally, I think bitcoin is worthless,” Dimon said, quoted by CNBC Pro. But, “I don’t want to be a spokesperson – I don’t care. It doesn’t make any difference to me, ”he said. “Our clients are adults. They do not agree. This is what makes the markets. So if they want to have access to buy bitcoin from you, we can’t keep it, but we can give them legitimate access, as clean as possible.
Recently, he told Axios CEO Jim VandeHei that Bitcoin has “no intrinsic value.” And although he thinks bitcoin will be in the long run, “I always thought it would become illegal somewhere, as China made it illegal, so I think that’s a bit of the or fools. “
Alfred Kelly, CEO of Visa believes that “cryptocurrencies can be extremely popular”. He was on the “Leadership Next” podcast with Fortune CEO Alan Murray where he expressed his thoughts on where cryptocurrencies could be over the next five years.
On the flip side, Kelly felt that just as crypto could be very effective, it could eventually collapse as well. Kelly explained that even though the crypto isn’t going anywhere, Visa wanted to be ahead. “What I love most about our business, Alan, is that we don’t pick winners and losers,” Kelly told Murray.
PayPal and Palantir co-founder Peter Thiel said he regrets not having invested enough in Bitcoin. At an event in Miami, Thiel praised cryptocurrencies and admitted that he may have underinvested in Bitcoin.
In May, Mark Zuckerberg shared a photo of two goats and said one of them was called “Bitcoin” – his post sparked speculation the billionaire approved of the cryptocurrency.
Earlier in 2019, Facebook confirmed that its cryptocurrency would be called Libra, although the social media network does not control that currency. Facebook is teaming up with 27 other organizations around the world to create the nonprofit Libra and the New Currency, which aims to improve access to financial services for those outside the banking system.
Disclaimer: Cryptocurrency is an unregulated space and digital currencies are not backed by any sovereign authority. Investing in cryptocurrency involves market risks. This article does not purport to provide financial advice for trading or buying cryptocurrency.