Financial Tycoons and Celebrities Weigh in on Bitcoin

Financial luminaries and celebrity types are talking about the bitcoin phenomenon quite a bit these days. While some of them are optimistic but hesitant, others believe the decentralized currency is a better system than gold or fiat.

Also Read: Extreme Cold Storage: A Fortress of Solitude for Bitcoins

Mark Cuban’s Guide to Getting Rich Includes a 10 Percent Bitcoin Investment

This past June news.Bitcoin.com reported on the billionaire entrepreneur Mark Cuban changing his tone about bitcoin after brushing off in the past. At the time Cuban told his millions of Twitter followers he just subscribed to “Inside Bitcoins, and you should too.” However, immediately after the statements Cuban started razzing bitcoin enthusiasts and said the decentralized currency was in a bubble. “I think it’s in a bubble — I just don’t know when or how much it corrects,” explained Cuban over Twitter.

Now the NBA team owner and host of the broadcast “Shark Tank” is telling people those who invest in bitcoin are true adventurers. This week in a Vanity Fair video called “Mark Cuban’s Guide to Getting Rich,” the investment tycoon states:   

If you’re a true adventurer and you really want to throw the Hail Mary, you might take 10 percent [of your savings] and put it in bitcoin or ethereum — But, if you do that, you’ve got to pretend you’ve already lost your money.  

The Famous Life Coach Tony Robbins Says Bitcoin Investment is Like Gambling in Vegas

In addition to Cuban’s recent ‘get rich’ video, the well-known speaker and life coach, Tony Robbins, spoke optimistically about bitcoin as well. However, Robbins also has his doubts about the cryptocurrency and likens the investment to winning big or losing hard in Las Vegas. Robbins is a fan of index funds and has a similar sentiment towards bitcoin like Cuban which is only invest what you can afford to lose.

“I look at [Bitcoin investment] like going to Vegas — As with gambling, you should only bet discretionary funds. Then a win is a big bonus, and a loss won’t hurt you financially,” explains Robbins. The life coach explains people should tell themselves:

I know it is just for fun that I’m investing, I know I could lose, this is Vegas.

Apple Co-Founder Steve Wozniak: ‘Bitcoin is Mathematical — It is More Legitimate Than Other Systems’

Then this week the co-founder of Apple Computers, Steve Wozniak (Woz) told a crowd at this year’s Money 20/20 event that bitcoin is far better than precious metals like gold. Last June, Wozniak told CNBC he started investing and playing around with bitcoin back when it was $700 per BTC. At Money 20/20 this past weekend Wozniak told CNBC’s Deirdre Bosa that bitcoin is a mathematical concept and as a mathematician he finds bitcoin to be better than gold and fiat currencies. The computer scientist explains that entities like the U.S. Federal Reserve can print dollars out of thin air for any reason. With bitcoin things are different Wozniak explains at this year’s Las Vegas event, stating:   

There is a certain finite amount of bitcoin that can ever exist — And gold continues to get mined and mined and mined. Maybe there’s a finite amount of gold in the world — But Bitcoin is even more mathematical and regulated and nobody can change mathematics.

In 2017, bitcoin is increasingly becoming a trending topic, so celebrities and finance moguls flocking towards the technology in great number is not out of the ordinary. With positive statements coming from all types of luminaries it’s likely their millions of followers are hearing about bitcoin for the first time, and some of them are contemplating investing in the decentralized economy after hearing these words.

What do you think about these celebrities and tycoons statements towards the bitcoin phenomenon? Let us know in the comments below.

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Images via Shutterstock, CNBC, University of San Francisco, and Business Insider. 

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via Jamie Redman