Opinions: The Collection of Quotes by Famous Politicians and Successful Business Leaders

Opinions: The Collection of Quotes by Famous Politicians and Successful Business Leaders

Mike Novogratz, Peter Smith, Jerome Powell, Gabor Gurbacs, Brad Sherman and Pang Huadong speaking on cryptocurrency, mining and blockchain issues

I think institutional investors are slowly coming to the realization that blockchain will be Internet or Web 3.0 and they'll want to participate just like they want to participate in the Web.

Mike Novogratz, the founder and CEO of Galaxy Digital Capital Management

Mike Novogratz — estimated to have made over $250 million from crypto currency.

For the last couple of years, we have seen really rapid increases then very rapid decrease and then sort of a slow consolidation of the market. I think we are seeing another slow consolidation in the market now, there is a likelihood to see a moderate and positive consolidation over the next quarter.

Peter Smith, CEO of Blockchain Inc.

Peter Smith — a 2016 World Economic Forum Technology Pioneer and noted thought leader in the FinTech space.

Relatively unsophisticated investors see the asset go up in price, and they think: 'This is great; I'll buy this.' In fact, there is no promise of that. There are investor and consumer protection issues as well.

Jerome Powell, US Federal Reserve Chairman

Jerome Powell — his years in investment management have made him one of the wealthiest members of the Fed’s board.

Gold today has around $7 trillion outstanding. If you take, say, 5 to 10 percent — I’ll let everyone do the math — bitcoin has upside. Bitcoin is used as digital gold today. It’s a de-risk asset. Basically if someone wants to outlay systematic risk, then one would go to access gold or digital gold (bitcoin).

Gabor Gurbacs, the director of Digital Asset Strategy at VanEck

Gabor Gurbacs — was a George Soros Scholar, Edgar Bronfman fellow, serial entrepreneur, and holder of several new economy finance research positions at MIT, Harvard, and Williams College.

We should prohibit U.S. persons from buying or mining cryptocurrencies. Mining alone uses electricity which takes away from other needs and-or adds to the carbon footprint. As a store, as a medium of exchange, cryptocurrency accomplishes nothing except facilitating narcotics trafficking, terrorism, and tax evasion.

Brad Sherman (California), Democratic Congressman of House Financial Services Committee

Brad Sherman — well-known for crypto community by his comments such as 'Cryptocurrencies are a crock' or 'when you buy a Bitcoin, are you helping build a new factory?'

[When I began to work at JPMorgan in 2007,] 13 people managed [the bank’s] $40+ billion [assets].... when the 2008 financial crisis was at its worst, [the] average daily loss was $300 million. It is only gradually that I understood that blockchain technology may be the key to avoiding the next global financial crisis.

Pang Huadong, the former vice president of North American investment banking at JPMorgan Chase

Pang Huadong — uses mathematics as his life ideal and believes that blockchain is the ninth largest miracle in the world.

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