Saudi Prince Al-Waleed bin Talal sharply criticized bitcoin during an appearance on CNBC today, saying that he agrees with JPMorgan CEO Jamie Dimon's assessment that the cryptocurrency is a "fraud.
""I just don't believe in this bitcoin thing," Al-Waleed said, according to a transcript published by CNBC. "I think it's just going to implode one day. It's Enron in the making.
"When asked about the specific comparison between bitcoin and the infamous American energy company that fell apart in the early 2000s amid revelations of massive accounting fraud, Al-Waleed reiterated his position that he "just [doesn't] believe in bitcoin completely."Al-Waleed went on to say:
"Dimon – whose bank is a backer of blockchain-related initiatives like the Enterprise Ethereum Foundation – has since doubled down on those remarks, predicting that governments would begin targeting the cryptocurrency.
More like this can be found on Coindesk here: https://www.coindesk.com/saudi-prince-al-waleed-bitcoin-going-implode/
""I just don't believe in this bitcoin thing," Al-Waleed said, according to a transcript published by CNBC. "I think it's just going to implode one day. It's Enron in the making.
"When asked about the specific comparison between bitcoin and the infamous American energy company that fell apart in the early 2000s amid revelations of massive accounting fraud, Al-Waleed reiterated his position that he "just [doesn't] believe in bitcoin completely."Al-Waleed went on to say:
"It doesn't make sense. This thing is not regulated. It's not under control. It's not under the supervision [of] any federal – elect – United States Federal Reserve or any other central bank. I don't believe in this whole thing at all. I think it's going to implode."It was then that Al-Waleed – a Saudi royal family member who, as head of the Kingdom Holding Company, has an estimated net worth of more than $17 billion – said he agreed with Dimon, who issued the now-infamous remark last month that he believes that bitcoin "is a fraud.
"Dimon – whose bank is a backer of blockchain-related initiatives like the Enterprise Ethereum Foundation – has since doubled down on those remarks, predicting that governments would begin targeting the cryptocurrency.
More like this can be found on Coindesk here: https://www.coindesk.com/saudi-prince-al-waleed-bitcoin-going-implode/
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Jose Ojeda Portillo Adviser at Blockchain Company / Water Health Environment / Biosphere University A good example of people who despise what they ignore! -
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Francisco Gimeno - BC Analyst I appreciate this news report as I appreciate all news that come stating Bitcoin is a pyramidal scam, a Ponzi scheme, and mainly that because is unregulated and is a no centralised then is not safe. It shows how some very important people are being caught unaware of the true implications of Blockchain and the crypto economy and even how scared are they of being ousted from their controlling of world finances. If Bitcoin is a scam, the USD, the Euro, and all the money is a scam too. I hope Governments start soon targeting the Bitcoin and the crypto economies so they realise how useless is to do that.