Bitcoin’s ongoing rally has drawn the attention of billionaires, retail investors and celebrities alike. This became clear when Masayoshi Son, the famous chief executive of Softbank (which runs the Vision Fund), spoke about bitcoin and cryptocurrencies in a recent interview / presentation at a New York Times event.
Unlike some other billionaires, he shared that he isn’t too keen on Bitcoin at the moment.
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SoftBank CEO talks about Bitcoin in the last interview
Masayoshi Son, who is known to have bought a large amount of Bitcoin near the peak of 2017, recently commented on cryptocurrency in a recent interview with the New York Times that he found Bitcoin distracting.
He doesn’t seem to want to buy back as Bitcoin is a time consuming investment for him.
However, Son admitted that he believes that cryptocurrencies and digital currencies as a whole will persist for the longer term.
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Not the only billionaire not interested in BTC
Ray Dalio, a billionaire, has also hesitated to buy bitcoin for the past week. While he said he was open to changing his mind, he stated that the reason for his skepticism is strong:
“I may be lacking in BTC so I would like to be corrected. My problems with Bitcoin as an effective currency are simply … They are that 1) Bitcoin is not very good as a medium of exchange because you can buy a lot with it (I suppose that’s because it is too volatile for most traders to use, but correct me if I’m wrong) It is not very good as a store of wealth because its volatility is great and little related to the prices for that There is a correlation between what I need to buy. If I own it, it doesn’t protect my purchasing power. ”
Dalio is not the only skeptic.
JP Morgan CEO Jamie Dimon recently said he wasn’t interested in the cryptocurrency, adding that he didn’t want that comment to make the news.
He said he is focusing on blockchain instead, which can be a great way to improve payment systems in terms of their efficiency.
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Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Billionaire Masayoshi Son Talks Bitcoin in Interview With New York Times