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One of the First ‘Crypto-billionaires’ Admits that Bitcoin “is Dead”

Enumerating the voices that have criticized bitcoin, the most popular virtual currency, is an almost titanic task: both Goldman Sachs and UBS denounced that this self-denominated currency did not fulfill any of the functions that should be attributed to it.

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Erik Finman, one of the first millionaires thanks to cryptocurrencies, has literally claimed that:

“Bitcoin is dead, too fragmented, there are tons of internal struggles. I just do not think it will last.”

Enumerating the voices that have criticized bitcoin, the most popular virtual currency, is an almost titanic task: both Goldman Sachs and UBS denounced that this self-denominated currency did not fulfill any of the functions that should be attributed to it. Likewise, three public agencies in Mexico have warned of possible crimes for their use, joining the British regulators. the very same Harvard University or the Deutsche Bank.

The funny thing is that one of those voices is one of the people who has been greatly enriched thanks to the cryptocurrency bubble. We speak of Erik Finman, one of the first millionaires in these conflicts, who has literally claimed that “bitcoin is dead, too fragmented, there are tons of internal struggles. I just do not think it lasts. “

In his expert opinion, expressed to MarketWatch, he adds that “there may be one or two bull markets (…) but in the long term, he is dead”.

10 years since the creation of Bitcoin, has it met expectations?

Reasons are not missing from anyone who has seen the huge speculative bubble in which this market had become: last week, bitcoin reached a new annual low of just $ 3,126, and some analysts believe it could fall further, below of the psychological barrier of $ 3,000. Data that seems unlikely if we take into account that a little over a year ago this cryptocurrency was around 20,000 dollars of quotation.

Luckily, practically no one is considering entering this spiral of madness and scam on a large scale. According to a recent international study by Gallup and Wells Fargo, only a residual 0.5% say they plan to buy bitcoins in the near future, well below the 2% of consumers who have done so far. In these figures we have to take into account that only the citizens who know this currency are taken into account, with which the percentage among the total population is practically close to zero.

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