What are the Billionaires Doing with their Cryptocurrency?

August 10, 2020
Cryptocurrency and the Blockchain technology are as destructible as they are polarized to each other. Cryptocurrency and the blockchain are the two sides of the single coin, yet they are quite different.

It has been well over a decade since the first Cryptocurrency, Bitcoin, was introduced. Since then, it has disrupted everything which has come in contact with Cryptocurrency. Blockchain technology and Cryptocurrency has revolutionised the market and the industry in many ways. Yet, this is just the beginning.

The volatile nature of the Cryptocurrency has left the traders and investors with mixed feelings. Some believe that the volatility of the Cryptocurrency is what makes it an asset to invest in. At the same time, others are against the volatility.

Seeing how Cryptocurrency has been disruptive in the trade market, millionaires and billionaireshave their thoughts on this matter.

In this article, we will highlight some of the billionaires’ thought processes and see what they have to say on Cryptocurrencies.

Bill Gates

Who does not know the name of Bill Gates? Bill Gates is one of the richest men globally, with a net worth exceeding $100 billion. Bill Gates is one of the first generations of business people who have shown interest in the Cryptocurrency. He has been in good terms with the Cryptocurrency since 2014.

In 2018, during an interview with CNBC, Gates said that bitcoin and ICOs (Initial coin offerings) are speculative, positive with the blockchain technology, and ended up the meeting saying that blockchain might become the underlying technology soon.

Larry Ellison

Larry Ellison is the co-founder of Oracle, which has a market capitalisation of over $50 billion. Currently, Larry Ellison is one of the richest men in the world and has always been the best wisher for Bitcoins.

Larry is one of the few billionaires who have positive remarks on the existence of the cryptocurrencies. According to him, cryptocurrencies and the blockchain are the two elements that will change the future for good.

In an article by Business Insider, Larry Ellison put his thoughts on the table where he said that Cryptocurrency and the blockchain are not the same. Cryptocurrencies are just the product of the Blockchain technology, with little tune-ups, blockchain technology can be used in every field.

Mark Zuckerberg

Mark Zuckerberg has kept a positive stance for the Cryptocurrency since 2018. According to him, the technology supporting the Cryptocurrency will bring innovation to every technology.

We all know that recently Facebook has launched its stable coin, “Libra.” Launching Libra shows how confident Mark is with the existence of the Cryptocurrency. However, many people have shown their concerns that if every member of Facebook starts using Libra as a currency, it might affect the world’s fiat currencies.

After the launch oo the Libra, the onlookers are also concerned for the other cryptocurrencies. However, Zuckerberg has said that he will not do anything that will bring imbalance to existing society.

Michael Novogratz

Michael Novogratz [“Novo”] is the CEO of the Crypto merchant bank and former manager of the Fortress investment group. He has always said in favour of the Cryptocurrency. He even correctly predicted that Bitcoin would rise over $10,000 in 2017.

According to the Novo, bitcoin is the only Cryptocurrency that will ever consider as digital gold. He also added that with the right regulation methods, Bitcoin could enter the mainstream of currency.

According to a report, Novo has invested 30% of his total fortune in the Cryptocurrency. It shows that he is interested in the Cryptocurrency. Even after accumulating a loss of more than $136 million, his trust for the Cryptocurrency has not faltered.

Conclusion

Cryptocurrency has many possibilities that we are yet to venture. You will find some people saying for the Cryptocurrency while some were saying against it. It all depends on what were their experiences with the Crypto trade. Cryptocurrency being volatile in nature is very hard to predict its future outcome. Hence, the crypto trade is just like a gamble where winning and losing is in a 50-50 ratio. If you are interested in trying your luck and wanting to earn profit with the crypto trade, you can visit bitcoin pro website.

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