Jeffrey Gundlach, a renowned American investor and billionaire has articulated his dislike of BTC. He calls BTC “a lie” in a new interview, according to a reported published by Business Insider. Gundlach’s net worth is projected to be over two Billion USD.
Primarily, he takes issue with Bitcoin’s dearth of obscurity. Even though it disguises the individuality of its users, all transactions are forever stored on a blockchain and can be figured out by anyone:
“I don’t believe in bitcoin. I think that it’s a lie. I think that it’s very tracked, traceable. I don’t think it’s anonymous.”
Tangible Items & Paintings Over Bitcoin
Furthermore, Gundlach mentions that he favors tangible items like a Mondrian painting over a digital entry. He is also an avid art collector. He says:
“I prefer things that I can put in the trunk of my car. I prefer my Mondrian on the wall to a digital entry that has the same value.”
In spite of being exceedingly doubtful about BTC’s value proposition, Gundlach prophesied back in the month of January that the top cryptocurrency by market cap could ascend to fifteen thousand USD this year because of dimness in the US Dollar.
What do you think about the conventional market’s billionaire commenting about Bitcoin? Let us know in the comments below!