Original | Odaily Planet Daily ( @OdailyChina )
Author: Golem ( @web3_golem )
This week, the price of Bitcoin broke through $110,000, setting a new record high again, reaching a maximum of $111,963. Today, the market value of Bitcoin has reached $2.2 trillion, surpassing Amazon to rank fifth in the world. The new high also means that since its birth in 2008, as long as users insist on holding Bitcoin, Bitcoin has never lost anyone in terms of price. Strategy, which has been insisting on buying and holding Bitcoin, currently has a floating profit of more than $23 billion in Bitcoin holdings. Its executive chairman Michael Saylor also proudly stated, If you dont buy Bitcoin at its historical high, you will miss the opportunity.
However, looking back at the glorious journey of Bitcoin, there are also many celebrities and patriots who are full of prejudice and believe that Bitcoin is worthless, and now Bitcoin has once again slapped these people in the face with its price. Odaily Planet Daily will compile a collection of these face-slapping remarks in this article, which can be regarded as a bitter memory meal for Bitcoin fans.
Warren Buffett: Bitcoin is rat poison squared and will not end well
Buffett is recognized as the stock god in the investment community. Even in the crypto circle, there are investors who believe in and practice his investment philosophy. However, over the years, Buffett himself has never changed his negative attitude towards Bitcoin.
In 2013, when Bitcoin was only over $100, Buffett said Bitcoin was rat poison. At the Berkshire Hathaway shareholders meeting in May 2018, a CNBC reporter asked again, What do you think of Bitcoin rising from over $100 to over $9,000? Buffett replied, It may be rat poison squared.
At the Berkshire Hathaway shareholders meeting in May 2019, Buffett once again expressed a negative view on Bitcoin, This is a gambling thing, and there are a lot of frauds associated with it. Bitcoin does not generate any value. Its like shells or something like that, which is not an investment for me.
What would happen if I invested in Bitcoin?
At this years Berkshire Hathaway shareholders meeting, no one asked Buffett about his views on Bitcoin. Perhaps people thought the answer would be the same as in the past. At the same time, Buffett announced that he would retire at the end of the year and hand over the position of CEO to Vice Chairman Greg Abel. So, will this change Berkshire Hathaways position on Bitcoin?
Berkshire Hathaways cash and cash equivalents reserves have been growing steadily since 2018, as shown in the figure below.
The cash and cash equivalents reserves disclosed at the end of 2018 were $111.86 billion, and the cash and cash equivalents reserves disclosed in Q1 2025 were $350 billion. It can be seen that Berkshire Hathaway is not optimistic about the global economic situation in recent years and would rather hold cash. But what would happen if part of the reserves were invested in Bitcoin?
In 2018, the price of Bitcoin peaked at about $14,000. If Berkshire Hathaway had taken out 1% of its cash reserves at the time (about $1.1 billion) to hold Bitcoin, the investment would now be worth more than $8.6 billion. If 1% of its cash and cash equivalents reserves were invested in Bitcoin every year, the returns would be even more impressive.
Trump: Bitcoin is a scam, I won’t be surprised if it falls below $6,000
Who would have thought that todays crypto president Trump was also a Bitcoin opponent before? In 2019, during his first term as US President, Trump tweeted, I am not a fan of Bitcoin and other cryptocurrencies. They are not currencies, their value fluctuates greatly, and comes out of thin air. Unregulated crypto assets can facilitate illegal behavior, including drug trafficking and other illegal activities.
Then on June 7, 2021, Crypto President Trump said in an interview with Stuart Varney of Fox Business Channel that Bitcoin is a scam, and I would not be surprised if it falls below $6,000. He said that the reason he hates Bitcoin is that Bitcoin is competing with the US dollar. Trump also said that the worlds currency should be the US dollar and we should not have Bitcoin.
It is the greatest good to correct ones mistakes
Trumps stance on Bitcoin can be divided into three stages: strong criticism (2019), continued questioning after leaving office (2021), and active support after taking office (2025). Although it is well known that politicians are foxes of a thousand years, their stances will change with their interests. There are no eternal enemies or friends, only eternal interests.
During the 2024 presidential election, crypto people have become a political force that cannot be ignored in the United States. Trump changed his stance on crypto in order to win votes, attending crypto conferences and frequently flattering Bitcoin and cryptocurrencies in public. After successfully becoming president, Trumps interest group knew that the crypto industry had huge profit margins and made money faster than the ancestral real estate business, so his group successively founded the crypto project World Liberty Financial, issued the Meme coin TRUMP and the stablecoin USD1 , turning the crypto industry into a family ATM.
But it is also undeniable that Trumps change in attitude towards Bitcoin and the crypto industry is indeed one of the engines of this bull market. After making such a great contribution, whats wrong with making some money?
Bill Gates: You shouldnt expect Bitcoin to rise, Im willing to short it
Bill Gates, a famous figure in Web2, has also always held a negative view on Bitcoin. In an exclusive interview with CNBC in 2018, he said, As an asset class, it doesnt create anything, so you shouldnt expect it to rise. This is purely an investment in the takeover theory. If there is an easy way, I agree to short it.
But in 2021, Bill Gates changed his stance on Bitcoin and became neutral towards it.
However, when NFT became popular in June 2022, Bill Gates once again stated in a live interview at TechCrunch that NFT is 100% based on the Greater Fool Theory. This poured cold water on the focus of encryption at the time.
Bill Gates last expressed his views on Bitcoin in May 2024, saying that the value of a company comes from the great products they create. The value of a cryptocurrency is just how much others decide they are willing to pay for it, so it does not add value to society like other investments. It can be seen that his hostility towards encryption has not changed much.
JPMorgan Chase CEO: Bitcoin is worthless, people have the right to smoke, but that doesnt mean its good
Jamie Dimon, CEO of JPMorgan Chase, has also been an opponent of Bitcoin for many years. As early as 2014, Dimon expressed his position on Bitcoin, saying that Bitcoin is a bad way to store value, and this cryptocurrency can be copied over and over again; the following is a list of Jamie Dimons negative comments on Bitcoin over the years:
2014: “A Terrible Store of Value”
2015: “Will not survive”, “Will be stopped”
2016: “Nowhere to Go”
2017: Fraud
2018: “I don’t give a shit”
2019: Launch of JPMCoin
2020: “Not my cup of tea”
2021: Worthless
Even to this day, Jamie Dimon remains negative about Bitcoin, criticizing it again on January 13, 2015, saying it has no intrinsic value and is often abused by bad actors. He also compared trading Bitcoin to smoking, saying that people may have the right to smoke, but that doesnt mean its a good idea.
Forced to sell cigarettes
However, although Jamie Dimon himself has never let go of Bitcoin, JPMorgan Chase still performed a really fragrant behavior. On May 19, 2025, Jamie Dimon said that although I am not a fan of Bitcoin, I will allow customers to buy Bitcoin, but I will not provide custody services for it.
In fact, as early as 2021, Jamie Dimon expressed a similar view: investors are advised to stay away from Bitcoin, but if Bitcoin is more regulated, JPMorgan Chase can provide Bitcoin-related services to customers. He used marijuana as an example, saying that this can be traced back to how a person should run a business. I dont smoke marijuana, but if you make it legal across the United States, I wont stop our people from saving it, etc. I wont tell people how to spend their money, no matter what I personally think about people buying some items with their own money.
There is no doubt that Jamie Dimon is not a smart investor, but he is a qualified businessman.
BlackRock CEO: Bitcoin is an indicator of money laundering
BlackRock CEO Larry Fink first expressed his views on Bitcoin in October 2017, saying that cryptocurrency proves how much money laundering is going on around the world. At the same time, he said in an interview with CNBC in 2021, I may be more inclined to Jamie Dimons camp because he thinks Bitcoin is worthless.
How much is human freedom worth?
However, BlackRock CEO changed his view on Bitcoin in 2023, saying on Fox Business in July 2023 that Bitcoin is like digital gold. In March 2024, when a CNBC reporter asked, How much do you think Bitcoin is worth?, Larry Fink replied, How much is human freedom worth? Larry Fink is worthy of being a battle-hardened old money, and he directly raised the value of Bitcoin to a priceless level.
Larry Fink also said frankly, “I used to be a skeptic and was proud of it. But after my research, I found that my view five years ago was wrong. I believe that Bitcoin is legal and it can bring returns that are not related to traditional assets.”
In March 2025, Larry Fink said that the price of Bitcoin is expected to rise to $500,000 to $700,000.
Jack Ma: Blockchain is not a bubble, but Bitcoin is
Jack Ma, a well-known Chinese entrepreneur, is not very positive about Bitcoin. In November 2017, Jack Ma said at an event: I am not very interested in Bitcoin. We have a team studying blockchain, but Bitcoin is not what I want to do. We don’t pay attention to Bitcoin.
At the Second World Intelligence Conference held in Tianjin in May 2018, Jack Ma said, Blockchain is not a bubble, but Bitcoin is a bubble - Bitcoin is only a very small part of blockchain. He then reiterated this point in August 2021.
It can be seen that Jack Ma has a certain degree of confidence in the application level of blockchain technology, but he always maintains a cautious and negative attitude towards specific currencies such as Bitcoin.
Lang Xianping: If you give me Bitcoin, I won’t take it
Lang Xianping, an independent economics commentator and former host of Langs Financial Eyes, said on Guangdong TVs Langs Financial Eyes program in 2014, If you give me Bitcoin, I wont take it. To me, this thing is meaningless and has no value. Then, a classic emoticon package appeared.
Four years later, in January 2018, in a media special report on Lang Xianping titled I dont even want Bitcoin, he once again reinforced his position, regarding Bitcoin as a phantom and a speculative bubble, and cited Buffetts view of staying away from Bitcoin to warn of the risks.
Summary: Bitcoin is the religion of the new era
Bitcoin, which started as a string of code in 2008, has experienced many ups and downs, and finally announced its immortality to the world again this week with a new high price. Those staunch opponents who used doubt as a sail could only retract their sails in the face of the rising trend. Every new high of Bitcoin is a gentle mockery of the bubble theory and zero return theory - price is truth, and numbers are faith.
Perhaps Bitcoin is the religion of the new era. It has no churches, but it lights the hearts of believers between global nodes; it has no scriptures, but it uses blockchain to write unalterable scriptures. For staunch opponents of Bitcoin, even if the price is high and the consensus is strong, it may not change their grudges. However, a generation will always grow old, but there will always be someone young, and the ranks of Bitcoin believers will only grow stronger in the future.
