Some wealthy people have expressed their disdain towards Bitcoin. They believe Bitcoin is a scam or Ponzi scheme backed by nothing. Figures like Warren Buffet, and even Donald Trump himself believe Bitcoin is a sham. I'm surprised to see this, since Bitcoin brings many profit opportunities to its "hodlers". For some reason, millionaires (or billionaires) hate Bitcoin. They usually support Gold and Fiat, not wanting to try something new like crypto/Blockchain tech. Justin Sun tried to convince Warren Buffet to get into crypto a while ago, only to find that his efforts were in vain.
Thoughts?
Thoughts?
Most millionaires do believe in the traditional type of investment- which is either purchasing stocks or gold on the market. Since most of these investors got their wealth from a relatively risky method, some do not approve of investing into an instrument which is highly volatile (cryptocurrencies).
Though this may be the case, some big investors are jumping on the ship as they expressed their interest towards cryptocurrencies. Imagine a millionaire purchasing several hundreds of BTC. The slightest increase/decrease on its price means gain or loss of millions of $$$ on their part.