Top Celebrities Who Don’t Support Crypto Market

The crypto market has continuously grown over the years, and people from different countries, professions, and educational backgrounds have endorsed and become a part of the industry. This industry has become worth Trillions but is still facing regulatory and disapproval issues from the government and finance-related celebrities.

In this blog, let us discuss some of the popular celebrities and what they have to say about the crypto market.

Gary Gensler

Gary Gensler, the US SEC Chair, has been known for his extremely strict point of view regarding the crypto industry. He is the individual behind the ongoing battle of Ripple Vs. SEC, he has cracked multiple crypto firms and much more.

In a recent interview, Gary disclosed the reasons for his unhappiness with the crypto market. He explained the concerns about Market manipulation with cryptocurrencies. As the cryptocurrency is decentralized, the users make inappropriate and unauthorized transactions, which leads to scams.

Warren Buffett

Warren Buffett is the 9th richest man in the world. He is known for his open hate for cryptocurrency. He has called Bitcoin the “rat poison” and “no currency at all.

On multiple occasions, Warren has called cryptocurrency a nonviable or worthless investment. Moreover, in an interview with CNBC, he claimed that the crypto market will come to an end soon.

In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending. If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it, but I would never short a dime’s worth

Paul Krugman

Paul Krugman is a well-known and Noble price-winner economist. He has called cryptocurrency an external financial risk and lacks a fundamental purpose. Moreover, he questioned the purpose of the existence of the cryptocurrency. He says,

What problem does this technology solve? What does it do that other, much cheaper and easier-to-use technologies can’t do just as well or better? I still haven’t heard a clear answer

He did not stop there and has also questioned the future of the crypto market. In another event, he said, “Because Bitcoin and its relatives have not managed to achieve any meaningful economic role, what happens to their value is irrelevant to those of us not playing the crypto game.”

Jamie Dimon

Jamie Dimon is the CEO and Chairman of the biggest bank in America, JPMorgan Chase & Co. He has called Bitcoin “the demon of the financial world,” and he would appreciate exorcising it out of the fiance ecosystem. Jamie has never backed out of showing his true feelings about the crypto market. He says that,

Bitcoin does nothing. I call it the pet rock

Further saying that “Bitcoin does have uses that happened to be illegal such as money laundering, fraud, tax avoidance, or payment for sex trafficking”

Jamie’s dislike of cryptocurrency is to such an extent that he would go through the JP employees who have stupidly invested in Bitcoin.

Final Thoughts

Like any other investment option, cryptocurrency has its share of lovers and haters. There are world leaders like Elon Musk, favoring the crypto market over Warren Buffet with complete disapproval of the market. However, what is worth appreciating is the industry’s growth over the years. It has to see what the crypto market will bring to the world next.