Industry insiders on cryptocurrencies, at times, speak out every other day about what their projections might be for the future price tag on multiple assets. Is there value to what these people are saying? In fact, there certainly is. Many of these people are very well-connected within the crypto market. They can provide the common trader with useful tips and tricks. The big problem for the average trader may be to find exactly which insiders they want to trust.
Comparing cryptocurrencies to sports betting is not necessarily a fair comparison. They both, though, have an element of unpredictability. Therefore, even the most connected industry insiders in both industries will tend to miss on some predictions from time to time. Talking about current predictions on where the price for any crypto is going to go would make it hard for this article to age well. What we will certainly cover are 3 unique points of view from famed billionaires and their relationship with cryptocurrencies. These are legitimate quotes from famed billionaires talking about decentralized exchange technology. Not fake quotes that you can find on equally sketchy crypto sites.
Bill Gates on Cryptocurrency
Gates has been one of the billionaires that have had a love-hate relationship with cryptocurrencies. In the most recent where he addressed the topic he mentioned that he didn’t necessarily own Bitcoin at the moment. From Bill though, the main takeaway that we can have is that he uses cryptocurrencies where it suits him. Maybe he’s not into the volatility of some cryptos. Because he has a lot to lose. That’s not to say that he doesn’t believe in the value of an automated market maker for example. He recently mentioned,
“I do think moving money into a more digital form and getting transaction costs down, that’s something the Gates Foundation does in developing countries,”
Elon Musk On Cryptocurrency
Elon Musk is one of the most crypto-friendly billionaires out there. He’s been one of the faces behind the DogeCoin. He mentioned that one of the reasons why he got into that particular crypto was the irony behind it. In that, it was a currency built to mock cryptos. People in the crypto-verse, though, launched it to the moon. While he advises to not bet the farm on cryptocurrencies he did mention,
“Fate loves irony. What would be the most ironic outcome? The currency that started as a joke in fact becomes the real currency. To the moon!”
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Is Warren Buffett Having A Change of Heart?
If there has been one major cryptocurrency amongst the elites it’s been Warren Buffett. The man who once called cryptocurrencies rat poison invested about a billion dollars into a crypto bank. In this case, actions speak way louder than words.
What we can conclude from this is that many elites have realized the true potential behind cryptocurrencies. Does that mean that you should go all in without having a clue of what you’re doing? That’s certainly not the case. It’s been proven time and time again though, that the crypto space offers tangible benefits to those who can take advantage of it.