Prominent Bitcoin Critics, Their Statements, and Evaluation

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Since Bitcoin's launch in 2009, several prominent figures from finance, technology, and government have been critical of it. Here are some of the most famous critics:

1. Warren Buffett (Berkshire Hathaway Chairman & CEO)

Called Bitcoin "rat poison squared."

Compared Bitcoin to gambling and said it has no intrinsic value and is just speculation.

Has repeatedly stated he will never own Bitcoin.


2. Charlie Munger (Former Vice Chairman of Berkshire Hathaway, RIP 2024)

Said Bitcoin is "disgusting and contrary to the interests of civilization."

Compared crypto to a venereal disease and "rat poison."

Advocated for governments to ban it.


3. Bill Gates (Microsoft Co-founder)

Dismissed Bitcoin as having no valuable output and being "100% based on the greater fool theory."

Warned that small investors can lose everything in crypto.

Criticized its use for illicit activities.


4. Jamie Dimon (CEO of JPMorgan Chase)

Called Bitcoin "a fraud" in 2017 (later softened but still dislikes it).

Said Bitcoin is "worthless" and only useful for criminals.

Claimed governments will eventually regulate Bitcoin out of existence.


5. Nassim Taleb (Author of 'The Black Swan')

Initially liked Bitcoin but later said it "failed as a currency, store of value, and hedge."

Called Bitcoin a Ponzi scheme and compared it to a bubble.

Criticized its high volatility.


6. Peter Schiff (Economist & Gold Advocate)

One of Bitcoin’s loudest critics.

Claims gold is superior to Bitcoin.

Predicts Bitcoin will crash to zero and is a bubble fueled by speculation.


7. Raghuram Rajan (Former RBI Governor & IMF Chief Economist)

Warned that Bitcoin is a bubble with no backing.

Said Bitcoin can’t function as a currency due to its volatility.

Believes CBDCs (Central Bank Digital Currencies) are a better alternative.


8. Agustín Carstens (Head of the Bank for International Settlements - BIS)

Called Bitcoin "a combination of a bubble, Ponzi scheme, and environmental disaster."

Advocated for strong regulation to limit its adoption.


9. Christine Lagarde (President of the European Central Bank - ECB)

Called Bitcoin "highly speculative" and warned against its risks.

Supports strict regulations to control its use.


10. Paul Krugman (Nobel Prize-Winning Economist)

Said Bitcoin is a bubble worse than the housing crash of 2008.

Dismissed Bitcoin as "evil" because it tries to bypass governments.

Predicts Bitcoin will eventually become worthless.







Despite all the criticism, Bitcoin has survived and thrived over the years, proving its resilience.

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