Original | Odaily Planet Daily (@OdailyChina_)
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This week, the price of Bitcoin broke through $110,000, setting a new historical high, reaching a peak of $111,963. Now, Bitcoin's market capitalization has reached $2.2 trillion, surpassing Amazon, which ranks fifth globally. This new high also means that since its inception in 2008, as long as users have held onto Bitcoin, it has never resulted in a loss in terms of price. Strategy Company, which has consistently purchased and held Bitcoin, currently has an unrealized profit of over $23 billion from its Bitcoin holdings, and its executive chairman, Michael Saylor, proudly stated, "If you didn't buy Bitcoin at its historical high, you missed a great opportunity."
However, looking back at Bitcoin's glorious journey, many celebrities and public figures have held prejudices, believing that Bitcoin is worthless, and now Bitcoin has once again slapped these people in the face with its price. Odaily Planet Daily will compile these face-slapping remarks in this article, serving as a "remembrance meal" for Bitcoin enthusiasts.
"Warren Buffett, the 'Oracle of Omaha': Bitcoin is 'rat poison squared,' and there will be no good outcome"
Buffett is recognized as the "Oracle of Omaha" in the investment world, and even in the crypto circle, there are investors who believe in and practice his investment philosophy. However, for many years, Buffett has maintained a negative attitude towards Bitcoin.
In 2013, when Bitcoin was only over $100, Buffett stated that Bitcoin was rat poison. At the Berkshire Hathaway shareholder meeting in May 2018, when a CNBC reporter asked, "Bitcoin has risen from over $100 to over $9,000, what do you think about this?" Buffett replied, "It might be rat poison squared."
At the Berkshire Hathaway shareholder meeting in May 2019, Buffett again expressed a negative view on Bitcoin, saying, "It's a gambling thing, and there are a lot of frauds associated with it. Bitcoin has not produced any value. It's like shells or something; it's not an investment for me."
What if you invested in Bitcoin?
At this year's Berkshire Hathaway shareholder meeting, no one asked Buffett about his views on Bitcoin anymore, perhaps because people thought the answer wouldn't differ from previous ones. Meanwhile, Buffett announced that he would retire at the end of the year and pass the CEO position to vice chairman Greg Abel. So, will this change Berkshire Hathaway's stance on Bitcoin?
From 2018 to the present, Berkshire Hathaway's cash and cash equivalents reserves have steadily increased, as shown in the chart below.
At the end of 2018, the disclosed cash and cash equivalents reserves were $111.86 billion, and in Q1 2025, the disclosed reserves were $350 billion. It can be seen that Berkshire Hathaway is not optimistic about the global economic situation in recent years and prefers to hold cash. But what if a portion of the reserves were invested in Bitcoin?
In 2018, the peak price of Bitcoin was about $14,000. If Berkshire Hathaway had invested 1% (about $1.1 billion) of its cash reserves in Bitcoin at that time, this investment would now be worth over $8.6 billion. If they continued to invest 1% of their cash and cash equivalents reserves in Bitcoin each year, the returns would be even more substantial.
"Self-Slapping" Trump: Bitcoin is a scam, and I wouldn't be surprised if it falls below $6,000
Who would have thought that the current "crypto president" Trump was once an opponent of Bitcoin? In 2019, during his first term as President of the United States, Trump tweeted, "I am not a fan of Bitcoin and other cryptocurrencies. They are not currencies, their value is highly volatile, and they come out of thin air. Unregulated crypto assets can facilitate illegal activities, including drug trafficking and other illegal activities."
Then, on June 7, 2021, in an interview with Fox Business's Stuart Varney, crypto president Trump stated, "Bitcoin is a scam, and I wouldn't be surprised if it falls below $6,000." He expressed his dislike for Bitcoin because it competes with the dollar. Trump also stated that the world's currency should be the dollar, and we should not have Bitcoin.
Mistakes Can Be Corrected, and That's a Good Thing
Trump's 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 cunning and their positions change with interests, there are no eternal enemies or friends, only eternal interests.
During the 2024 presidential election, crypto enthusiasts have become an undeniable political force in the U.S. Trump changed his stance on crypto to attract votes, attending crypto conferences and frequently flattering Bitcoin and cryptocurrencies in public. After successfully becoming president, Trump's interest group realized that the crypto industry has significant profit potential, faster than the family real estate business, so they successively established the crypto project World Liberty Financial, issued the meme coin TRUMP, and the stablecoin USD1, turning the crypto industry into a family ATM.
However, it cannot be denied that Trump's change in attitude towards Bitcoin and the crypto industry is indeed one of the engines of this bull market, "Having made such a significant contribution, what's wrong with making some money?"
Bill Gates: Don't expect Bitcoin to rise; I would short it
Web2 figure Bill Gates has also consistently held a negative view of Bitcoin. In a CNBC interview in 2018, he stated, "As an asset class, it doesn't create anything, so you shouldn't expect it to rise. This is purely an investment based on the 'greater fool theory.' If there were a simple way to do it, I would agree to short it."
However, in 2021, Bill Gates changed his stance on Bitcoin, adopting a neutral attitude towards it.
Nevertheless, in June 2022, during the NFT boom, Bill Gates reiterated at a TechCrunch event, "NFTs are 100% based on the greater fool theory," pouring cold water on the crypto focus at that time.
The last time Bill Gates expressed his views on Bitcoin was in May 2024, stating, "The value of a company comes from the great products it creates; the value of cryptocurrency is just how much others are willing to pay for it, so it doesn't add value to society like other investments." It is evident that his hostility towards crypto has not changed much.
JPMorgan CEO: Bitcoin has no value; people have the right to smoke, but that doesn't mean it's beneficial
JPMorgan CEO Jamie Dimon has also been an opponent of Bitcoin for many years. He first expressed his stance on Bitcoin in 2014, stating, "Bitcoin is a terrible store of value; this cryptocurrency can be replicated repeatedly." Here is a summary of Jamie Dimon's negative remarks about Bitcoin over the years:
2014: "Terrible store of value"
2015: "Will not survive" "Will be stopped"
2016: "No way out"
2017: "Fraud"
2018: "I don't care at all"
2019: Launched JPMCoin
2020: "Not my cup of tea"
2021: "No value at all"
Even today, Jamie Dimon still holds a negative attitude towards Bitcoin. On January 13, 2015, he criticized Bitcoin again, stating that it has no intrinsic value and is often abused by wrongdoers. He also compared trading Bitcoin to smoking, saying that people may have the right to smoke, but that doesn't mean smoking is a good idea.
Forced to Sell "Cigarettes"
However, although Jamie Dimon has never missed an opportunity to criticize Bitcoin, JPMorgan has still engaged in "true fragrance" behavior. On May 19, 2025, Jamie Dimon stated that although he is not a "fan" of Bitcoin, he will allow clients to purchase Bitcoin but will not provide custody services for it.
In fact, as early as 2021, Jamie Dimon had expressed a similar viewpoint: advising investors to stay away from Bitcoin, but if Bitcoin were to be more regulated, JPMorgan could provide Bitcoin-related services to clients. He used marijuana as an example, stating that it goes back to how one should run a business. "I don't smoke marijuana, but if you legalize it across the U.S., I won't stop our people from storing it, etc. I won't tell people how to spend their money, regardless of my personal views on what people might buy with their own money."
Undoubtedly, Jamie Dimon is not a savvy investor, but he is a competent businessman.
BlackRock CEO: Bitcoin is a money laundering indicator
BlackRock CEO Larry Fink first expressed his views on Bitcoin in October 2017, stating, "Cryptocurrency proves how much money laundering is happening around the world." At the same time, in a 2021 interview with CNBC, he stated, "I might lean more towards Jamie Dimon's camp because he believes Bitcoin has no value."
How Much is Human Freedom Worth?
However, in 2023, the BlackRock CEO changed his view on Bitcoin. In July 2023, he referred to Bitcoin as digital gold on Fox Business. 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, a seasoned veteran, directly elevated the value of Bitcoin to an invaluable level.
Larry Fink also stated, "I was a skeptic, and I take pride in that. But after my research, I found that my views from five years ago were wrong. I believe Bitcoin is legitimate, and it can bring returns that are uncorrelated with traditional assets."
In March 2025, Larry Fink predicted that the price of Bitcoin could rise to between $500,000 and $700,000.
Jack Ma: Blockchain is not a bubble, but Bitcoin is
Chinese entrepreneur Jack Ma has not been very positive about Bitcoin. In November 2017, at an event, he stated: "I am not very interested in Bitcoin. We have a team researching blockchain, but Bitcoin is not what I want to do; we do not focus on Bitcoin."
In May 2018, at the Second World Intelligence Congress held in Tianjin, Jack Ma said, "Blockchain is not a bubble, but Bitcoin is a bubble—Bitcoin is just a small part of blockchain." He reiterated this view again in August 2021.
It is evident that Jack Ma has a certain level of confidence in the application of blockchain technology, but he maintains a cautious and negative attitude towards specific cryptocurrencies like Bitcoin.
Lang Xianping: If you give me Bitcoin, I won't want it
Independent economic commentator and former host of "Finance Langyan," Lang Xianping, stated in a 2014 Guangdong TV program that "If you give me Bitcoin, I won't want it. To me, this thing has no meaning and no value." Thus, a classic meme was born.
Four years later, in January 2018, during a media report on Lang Xianping's "I wouldn't want Bitcoin even if you gave it to me," he reinforced his stance, viewing Bitcoin as a "phantom" and "speculative bubble," and cited Buffett's view of "staying away from Bitcoin" to warn of risks.
Summary: Bitcoin is the religion of the new era
Bitcoin began with a string of code in 2008, and after years of ups and downs, it has once again declared its immortality to the world with a new price high this week. Those steadfast opponents who set sail with skepticism can only lower their sails in the face of rising prices. Each new high of Bitcoin is a gentle mockery of the "bubble theory" and "zeroing theory"—price is truth, and numbers forge faith.
Perhaps Bitcoin is the religion of the new era. It has no churches, but it lights the hearts of believers across global nodes; it has no scriptures, but it writes immutable scriptures on the blockchain. For staunch opponents of Bitcoin, even if the price rises and consensus strengthens, it may not change the grudges in their hearts. However, "a generation will always grow old, but there will always be young people," and the ranks of Bitcoin believers will only continue to grow.
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