Some of the world’s richest have been known to make denigrating remarks on Bitcoin, comments that stem from their natural inclination to defend their turf, which is fiat. Kevin O’Leary of Shark Tank, also known as Mr. Wonderful, recently joined the long list of Bitcoin bashers, to the disappointment of many of his fans in the cryptosphere. Squaring off with Anthony Pompliano of Morgan Creek Digital on Squawk Box on CNBC, O’Leary tore into Bitcoin’s current bull run.
Kevin dipped into his bag of colorful words, lambasting Bitcoin as a “scam,” “digital game,” and “total BS.” He tried to corner Pompliano by asking him what the value of owning BTC as an asset class was, asking: “Tell me why this, which is basically a digital game, has any intrinsic value. And where is the long-term value? Just this idea that they’re going to cut the number of units in half is just a scam. That’s just total BS…. I think people should understand: today the hot digital is Bitcoin, tomorrow it could be whatever, right?”