Bitcoin’s ongoing rally has caught the attention of billionaires, private investors and celebrities. This became clear when Masayoshi Son, the famous CEO of Softbank (who runs the Vision Fund), spoke about Bitcoin and cryptocurrencies in a recent interview / presentation at an event in the New York Times.
Unlike some other billionaires, he said he’s not too keen on Bitcoin at the moment.
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SoftBank CEO talks about Bitcoin in recent interview
Masayoshi Son, who famously bought a large amount of Bitcoin near the peak of 2017, recently commented on the cryptocurrency in an interview with the New York Times that he found Bitcoin to be distracting.
He doesn’t seem to want to buy back because Bitcoin is a time consuming investment for him.
Son admitted, however, that he thinks cryptocurrencies and digital currencies as a whole can survive in the longer term.
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Not the only billionaire not interested in BTC
Ray Dalio, a billionaire investor, also indicated last week that he was hesitant to buy Bitcoin. Although he said he is open to change his mind, he explained that the arguments for his skepticism are strong:
“Maybe I am missing something about BTC, so I would like to be corrected. My problems with Bitcoin as an effective currency are simple … They are that 1) Bitcoin is not very good as a medium of exchange because you can buy a lot with it (I assume that’s because it is too volatile for most traders to but correct me if I’m wrong). it is not very good as a storehouse of wealth, because its volatility is high and has little relation to the prices of what I have to buy, so owning it does not protect my purchasing power. “
Dalio is not the only skeptic.
Jamie Dimon, CEO of JP Morgan, recently said he is not interested in the cryptocurrency, adding that he did not want this comment to be in the news.
He said he is instead focused on blockchain, which he says could be a good 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