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Traditional investors disclose their opinions about Bitcoin

Several traditional investors have expressed their views on Bitcoin, as it continues to grow to record highs.

09.Dec.17 2:07 PM
By Daria Zaytseva


Traditional investors disclose their opinions about Bitcoin
During morning trading on December 8, 2017, the currency traded above $16,000 per token and even reached more than $18,000 in one market.

Because of the phenomenal trading performance, several billionaires-investors have expressed their thoughts about Bitcoin, focusing on the idea that it lacks intrinsic value.

In his commentary, legendary activist investor Carl Icahn says that he cannot understand Bitcoin's performance, and he thinks it's a bubble.

Meanwhile, billionaire Warren Buffett, who is considered as the most valuable investor for all time, has advised investors to stay away from the most popular virtual currency, because this is just a "mirage", and it is leading to a bubble zone.

The well-known billionaire and founder of one of the largest hedge funds in the world Ray Dalio is still taking a cautious stance too.

However, former manager of Wall Street and hedge funds, Michael Novogratz argued that Bitcoin and other cryptocurrencies are real, and Bitcoin could be an alternative or a substitute for gold. He added that Bitcoin's price could rise to $40,000 by the end of the year.

The co-founder of PayPal and the financial technology investor Peter Thiel, however, believes that Bitcoin has "great potential". In an interview with CNBC, he explains thatBitcoin is more than just a cryptocurrency.

The growing skepticism towards Bitcoin did not stop the Russian oligarchs from investing in it, as traditional Russian billionaires such as Roman Abramovich, Alexander Frolov and Alexander Abramov are reportedly investing large amounts of their money in cryptocurrencies, particular in Bitcoin, through the European fund - Blackmoon Crypto.

Finally, the Winklevoss twins, who started investing in the digital currency in 2013, remain optimistic about cryptocurrencies as their stocks made them the first ever Bitcoin billionaires.

Time will tell who of these investors are right. Regardless of which side you are on, informing and exercising due diligence, you will be able to make your own investment decision.

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