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Jack Ma: Technology by itself is not a bubble, but bitcoin is possible

He actively explores the potential of blockchain but avoids cryptocurrency.

26.Jun.18 10:11 PM
By Jason Brideslow


Jack Ma: Technology by itself is not a bubble, but bitcoin is possible
Chinese businessman and billionaire Jack Ma, famous for owning the business center Alibaba Group, once again warned about the possibility that bitcoin could become a bubble.

Jack Ma is also known in the crypto sphere as a mentor of Justin San, creator of Tron (TRX). Now, Justin Sun wants to instruct other entrepreneurs.

Mr. Ma commented on his opinion on bitcoin during an event held by Ant Financial Services on Monday. Ant Financial Services is a Chinese corporation specializing in financing, money management, and other services. Its parent organization is Alibaba.

Jack Ma had previously adopted the pro-block / anti-bitcoin position, but in the past he had adhered to a more conservative approach, admitting that although this was his personal opinion, it was someone inexperienced in this field. But this Monday he was a little more direct, keeping his way of thinking: "Blockbuster technology can change our world more than people imagine ... bitcoin, however, can be a bubble."

Discussion about the benefits of bitcoin was shared by the community of investors more than concepts related to the convenience of using blocking technologies. More and more discussions share these two concepts, concluding that they will follow other paths.

Criticism of Jack Ma points out that excessive and uncontrolled speculation can produce counterproductive results for the global adoption of crypto-currencies: "Blocking should be used to address the issues of data privacy, security, and sustainability ... (but the currency of the steel) tools and concepts for making money."

He also noted that speculation makes bitcoin dangerous: "It's ... wrong, to become rich overnight, betting on blockade ... Technology itself is not a bubble, and bitcoin, most likely, is."

Earlier the same opinion was expressed by Agustin Carstens.

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