Cryptocurrencies like Bitcoin have become very valuable in recent times, even breaking through USD 50 thousand several times. However, according to one of the richest people in the United States, cryptocurrencies will be worth zero or have no value. Why is that?
The prediction was delivered by investment manager John Paulson. The figure with a wealth of USD 4 billion according to Forbes was also accurate in projecting the fall in house prices in Uncle Sam's country in 2008.
“Cryptocurrencies, putting their trade aside at this point, will eventually prove worthless,” Paulson told Bloomberg.
"Once the luxury wears off or the liquidity 'runs dry', it becomes zero (value). I would not recommend anyone to invest in cryptocurrencies," he added.
According to him, there is no intrinsic value in any type of cryptocurrency except that the amount is limited. For now, he recommends that people invest in other assets such as gold rather than cryptocurrencies because it is risky.
Of course, many do not agree with Paulson's opinion. Several influential figures view cryptocurrencies as the future of finance. One of them is Twitter CEO Jack Dorsey who is one of the world's leading Bitcoin activists.
So enthusiastic, Dorsey even hopes that this cryptocurrency can bring peace in the world. Dorsey says Bitcoin can help address financial inequality and encourage individuals to focus on bigger issues.
"My hope is that this creates world peace or helps create world peace," Dorsey said. In 2018, he even believed Bitcoin could become a single currency within a decade.
