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• Opinion: Why The "Wolf Of Wall Street's" Bitcoin Bash Isn't Valid!

And when it really cracks, you're not going to be able to sell on the way down, there will be no liquidity. And he's not the only one who sees bitcoin in this light. Billionaires Bill Gates and Warren Buffet have similarly criticized bitcoin. Warren Buffett, the CEO of Berkshire Hathaway and a long-time cryptocurrency critic , explained bitcoin's lack of intrinsic value like this : "You're just hoping the next guy pays more. And you only feel you'll find the next guy to pay more if he thinks he's going to find someone that's going to pay more.

But proponents for the cryptocurrency argue that the blockchain technology underpinning bitcoin will revolutionize financial systems and become more valuable in the process. His twin brother Tyler Winklevoss added, "You know the criticisms are just a failure of the imagination.

Bitcoin price rise baffles ‘Wolf of Wall Street’ as cryptocurrency rises above $7,000

Financial institutions are also eyeing the industry. For Belfort, the whole idea seems a bit too familiar: "I lived this, I was the guy on the other side of it," he says. All rights reserved. Contribute Login Join.

News Podcast Events Newsletter. Related Articles. The apex cryptocurrency by market cap — Bitcoin BTC — is losing its dominance, leading analysts to label the trend as the coming of the so-called "altcoin season.

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• 'Wolf Of Wall Street' Says He Was Wrong About Bitcoin, Predicts Price Will Reach $K | Benzinga.
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