The Most Famous Crypto Quotes – What Famous People Think About Crypto

Social proof is a powerful concept. If a person you trust recommends you to purchase something, you are more likely to buy it because you trust their advice.

Social proof also works for famous people that we don’t know personally. The Dogecoin boom in 2021 is a great social proof example — investors were following Elon Musk’s buy signals without knowing whether or not he was being serious.

Since history has proven that famous people talking about crypto (in almost any context) can have the power to move the market, we here at CoinMarketCap Academy researched the best crypto quotes by ten people with a lot of influence over the crypto market.

We split them into the following categories.

• The crypto bears;
• The in-between;
• The crypto bulls.

Decide for yourself whose advice you want to trust.

The 5 Best Warren Buffet Crypto Quotes

What Warren Buffet thinks about Bitcoin:

Ø “[…] probably rat poison squared.”

Ok, that doesn’t sound so good. Is that a firm no on whether Mr. Buffet would ever consider investing in crypto?

What Warren Buffet thinks about investing in Bitcoin:

Ø “I don't have any Bitcoin. I don't own any cryptocurrency, I never will.”

We have a tough one here. But maybe Mr. Buffet can at least clarify why he is categorically against investing in crypto?

Why Warren Buffet doesn’t invest in Bitcoin:

Ø  “If you don’t understand it, you get much more excited than if you understand it. You can have anything you want to imagine if you just look at something and say, ‘that’s magic.’”

Ø “I get in enough trouble with things I think I know something about. Why in the world should I take a long or short position in something I don't know anything about?”

That is at least a consistent position. Mr. Buffet is simply not comfortable with the technology and doesn’t really understand it, so he won’t invest in crypto. But is there any utility whatsoever to crypto?

What Warren Buffet thinks about crypto utility:

Ø “They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem.”

In other words, Warren Buffet considers Bitcoin to be a case of “greater fool theory,” where you can only profit from your investment by selling it to someone else at a higher price. Fair enough.

The 4 Best Charlie Munger Crypto Quotes

An even bigger crypto bear (or crypto hater) is Warren Buffet’s long-time partner Charlie Munger. While Mr. Buffet was negative but (mostly) civil in his criticism, Charlie Munger has issued abrasive comments about crypto in the past.

What Charlie Munger thinks about cryptocurrencies:

Ø “I wish they’d never been invented.”

Whoa, ok, easy there fella. What makes you so negative about Bitcoin?

Why Charlie Munger hates Bitcoin:

Ø “Of course I hate the bitcoin success. I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth, nor do I like just shuffling out of your extra billions of billions of dollars to somebody who just invented a new financial product out of thin air.”

No prejudices at all there, gotcha. In other words, Charlie Munger didn’t buy early when the Fed started raising money supply and now he’s pissed he missed out. But there’s more.

Why Charlie Munger would never buy Bitcoin:

Ø “It’s really kind of an artificial substitute for gold. And since I never buy any gold, I never buy any bitcoin. Bitcoin reminds me of what Oscar Wilde said about fox hunting. He said it was the pursuit of the uneatable by the unspeakable.”

How poetic. But the big picture here is clear, two grumpy old men that are sour about new technology emerging they don’t understand. Is that correct, Mr. Munger?

Whether Charlie Munger regrets not buying Bitcoin:

Ø “I certainly didn’t invest in crypto. I’m proud of the fact that I avoided it. It’s like some venereal disease.”

Ok, we’ve heard enough. Let’s not get personal here.

The 5 Best Janet Yellen Crypto Quotes

Yet another crypto bear — albeit not as much of a hater as Mr. Buffet and Mr. Munger — is Janet Yellen. The Treasury Secretary had the following to say about cryptocurrencies.

What Janet Yellen thinks about crypto:

Ø  “I will just say outright I am not a fan, and let me tell you why. I know there are hundreds of cryptocurrencies and maybe something is coming down the line that is more appealing but I think first of all, very few transactions [that] are actually handled by bitcoin, and many of those do take place on bitcoin are illegal, illicit transactions.”

The good ol’ Bitcoin is for criminals FUD. Every serious crypto investor by now knows that the share of Bitcoin used for illicit transactions is lower than that of cash. But that won’t stop people like Ms. Yellen trumpeting the same old messages. She also said the following about Bitcoin.

What Janet Yellen thinks about Bitcoin’s use case:

Ø “It is not a stable store of value and it doesn’t constitute legal tender. It is a highly speculative asset.”

Admittedly, Bitcoin is highly volatile, but all the volatility in its decade-long history resolved to the upside, and Bitcoin outperformed all other assets. Not too bad for something highly speculative. Ms. Yellen also specified where exactly Bitcoin falls short.

What Janet Yellen thinks is wrong with Bitcoin:

Ø “It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”

What Janet Yellen thinks about blockchain technology:

Ø "[Blockchain] is a very important, new technology that could have implications for the way in which transactions are handled throughout the financial system."

Ø “I think it could result in faster, safer and cheaper payments, which I think are important goals.”

In conclusion, Janet Yellen is certainly no fan of decentralized crypto, but she would have nothing against strictly regulated cryptocurrencies or a central bank digital currency. You decide for yourself if that’s better.

The 4 Best Gary Vee Crypto Quotes

What Gary Vee thinks about NFTs:

Ø "I think NFTs are grossly misunderstood. People thought that Andy Warhols and Jackson Pollocks should not have value. People thought that sports cards should not have value. People thought that sneakers should not have value."

Where and why Gary Vee developed this affection is unknown to the author of this article. But he has made it abundantly clear that he thinks NFTs are the shiz.

Why Gary Vee is so bullish on NFTs:

Ø "We are living more and more increasingly in a digital landscape, and NFTs become assets to communicate who you are. And that's something human beings have done forever — bought things to communicate. And NFTs will be the scaled version of that."

However, Gary Vee has been honest enough to admit that not all NFTs are going to make it. He is well-aware of the fact that scammers and low-quality projects abound in the NFT space.

What Gary Vee thinks about the sustainability of the NFT bull market:

Ø “I do believe that 98% to 99% of NFT projects will fail as investments but that's similar to me as internet stocks in '99 and 2000. But Amazon.com was there. The internet changed our lives and the blockchain and NFTs will do that as well.”

To cap it off, Gary Vee did in fact voice his opinion on Bitcoin once.

What Gary Vee thinks about Bitcoin:

Ø “Bitcoin has a limit – Nft projects don’t.“

The Best Jeff Bezos Crypto Quotes

The 5 Best Ray Dalio Crypto Quotes

Ray Dalio is a veteran investor, and reportedly was not a big fan of Bitcoin and crypto initially. However, if that is true, he has done a 180 in recent years because Mr. Dalio is firmly in the pro-crypto corner now.

What Ray Dalio thinks about Bitcoin:

Ø “Bitcoin has proven itself over the last 10 years. It hasn’t been hacked. It’s by and large, therefore, worked on an operational basis. It has built a significant following. It is an alternative, in a sense, storehold of wealth. It’s like a digital cash. And those are the pluses.”

Mr. Dalio seems to understand that Bitcoin will eventually play a much bigger role for global finance than it seems now. He also commented on crypto’s role for the economy.

What Ray Dalio thinks about crypto as money:

Ø “I view [crypto] as an alternative money in an environment where the value of cash money is depreciating in real terms. I would like to say that cash, I've been quoted [saying] 'cash is trash.' That cash, which most investors think is the safest investment is, I think, the worst investment."

Like many others, Mr. Dalio is apprehensive that expansive global monetary policy can hold up for much longer. Unsurprisingly, he put his money where his mouth is in terms of crypto ownership.

Does Ray Dalio own any cryptocurrency?

Ø  “I think it’s worth considering all the alternatives to cash and all the alternatives to the other financial assets. Bitcoin is a possibility. I have a certain amount of money in bitcoin. It’s an amazing accomplishment to have brought it from where that programming occurred to where it is through the test of time.”

Mr. Dalio has also commented on Bitcoin slowly seeping into the financial system. He is conscious of different policy approaches to Bitcoin.

What Ray Dalio thinks about regulating Bitcoin:

Ø “You have El Salvador taking it on and you have India and China getting rid of it. And you have the United States talking about how to regulate it and it could still be controlled,”

However, unlike some of the upcoming crypto bulls, Ray Dalio doubts that Bitcoin can eventually overcome the incumbent players controlling the monetary system.

What Ray Dalio thinks about Bitcoin’s future:

Ø “I think at the end of the day if it’s really successful, they will kill it and they will try to kill it. And I think they will kill it because they have ways of killing it,”

Sounds pretty grim, but let’s hope he is wrong.

The 5 Best Mark Cuban Crypto Quotes

Next up the scale of crypto bullishness is Mark Cuban. Mr. Cuban is well-known for being happy to dabble in different cryptocurrencies, and has tried out different projects like Iron Finance and OlympusDAO (not always successfully). He had the following to say about crypto.

What Mark Cuban thinks about crypto:

Ø "Crypto reminds me of 1995. It's not so much about all the tokens, and all the trading, and all the frenzy that's going around — that reminds me more of the dot-com stock market. What's interesting to me about crypto is the actual networking platforms themselves, and the ability to connect with smart contracts."

If Mr. Cuban is right, then the best is yet to come for crypto investors. He thinks so himself and has said as much.

How Mark Cuban sees crypto developing in the future:

Ø "You're seeing millions and millions of people investing in crypto, because it's far cheaper and simpler than investing in stocks. I don't think we fully understand the impact that crypto has had."

This view is slowly emerging as a consensus view. In fact, JPMorgan recently published a report that held the same view as Mr. Cuban and stated that crypto adoption was at an inflection point and about to rise exponentially. In terms of how sustainable different blockchains in development are, Cuban said the following.

What Mark Cuban thinks about different blockchains:

Ø  “Bitcoin is a store of value, just like gold. The bitcoin maxis — the people who eat, sleep, and breathe bitcoin and think it's gonna save the world — believe that it's a reserve currency, and that when fiat crumbles for whatever reason, bitcoin will slide right in as the white knight. I don't see that at all."

While Mr. Cuban sees Bitcoin as a legitimate store of value, he doesn’t quite foresee hyperbitcoinization like some others. However, he is well aware of the opportunity costs of not understanding blockchain technology.

What Mark Cuban thinks about understanding blockchain technology:

Ø “Not understanding blockchain, it’s going to smack you down and make you bleed.”

Not learning about blockchain technology could indeed be very costly in the future. Mr. Cuban also commented on Bitcoin in particular.

What Mark Cuban thinks about Bitcoin:

Ø "We're in this death war between blockchains. Not all of them are going to survive. It's really going to be the applications and the innovation that drive their success, just like in the early days of the internet."

The 5 Best Chamath Palihapitiya Crypto Quotes

Chamath Palihapitiya is a well-known angel investor and co-owner of the Golden State Warriors franchise. He is, obviously, also involved in crypto and is a seed round investor in Solana. Thus, we shouldn’t be surprised about his bullish price prediction for Bitcoin:

Chamath Palihapitiya’s Bitcoin price prediction:

Ø “I think this thing is $100,000 a coin probably in the next three to four years. And I think it is in the next 20 years a million dollars a coin.”

Chamath Palihapitiya on his crypto portfolio:

Ø  “I am building a fairly sizable portfolio of what are called NFTs, non-fungible tokens, some digital art, some virtual trading cards, and these may sound crazy to some, but I do think that that’s the next frontier of digital currency and digital assets. So I have been building a portfolio.”

The generational difference between him and someone like Warren Buffet could not be starker. Chamath has also noted that crypto has positive effects on society. For example, he sees cryptocurrency as an equalizer in terms of investment opportunities for minorities.

Chamath Palihapitiya about the effect of crypto on financial opportunities for minorities:

Ø “Crypto levels the playing field.”

There is some truth to that. Investing in cryptocurrencies is open to anyone, whereas investing in traditional finance can come with racial discrimination or simply not be open to regular investors because of regulation. But Mr. Palihapitiya went even farther than that when he talked about how cryptocurrencies influence the current monetary system.

How Chamath Palihapitiya sees cryptocurrencies influencing the monetary system:

Ø “This is now a confidence game. There is no real utility in this. This is a fantastic fundamental hedge and store of value against autocratic regimes and banking infrastructure that we know is corrosive to how the world needs to work properly. You cannot have central banks infinitely printing currency.”

Interesting to note that Chamath sees “no real utility” in crypto but still thinks it’s a good hedge. He actually elaborated on his view about crypto and its role in the current economic system in another interview.

Chamath Palihapitiya about crypto’s generational influence:

Ø “It destroys capitalism. If you think about what capitalism is, it’s not just a return on your investment, it’s the tonnage of dollars. So whoever is a big investor here is putting more and more dollars for more and more dollars. To me it’s the most incredibly and positively disruptive force we’ve seen. I think it will destroy the wealth. Frankly, I don’t care and I think it’s better for the world.”

His position seems not quite as clear as Mark Cuban’s, because crypto is a force for good and a wealth-destroying (or rather wealth-changing) mechanism on the one hand, but also kind of useless on the other hand. Regardless, we can put Mr. Palihapitiya firmly in the crypto bull camp.

The 3 Best Raoul Pal Crypto Quotes

We are slowly making our way down to the biggest Bitcoin and crypto bulls. Raoul Pal is certainly a very experienced investor and he is very bullish on the future of crypto.

What Raoul Pal thinks about Bitcoin:

Ø “Bitcoin is eating the world...It has become a supermassive black hole that is sucking in everything around it and destroying it. This narrative is only going to grow over the next 18 months. You see, gold is breaking down versus bitcoin...and gold investors will flip to BTC.”

This quote is from 2020, and we can safely say that Mr. Pal’s prediction was on the money. But Raoul Pal didn’t stop there.

What Raoul Pal thinks about Bitcoin’s future prospects as an asset:

Ø "It's an incredible asset. It's the only one with a limited supply with growing demand. It's an extraordinary thing, a call option on the future and the world's most pristine reserve asset.”

We went from “venereal disease” to “most pristine asset.” That just goes to show that investing is an art and not a science. Mr. Pal also gave a very confident price prediction for the crypto market.

Raoul Pal’s cryptocurrency price prediction:

Ø “I take a look at the entire derivatives market, it’s $1 quadrillion. I believe there’s an affordable likelihood of this being a $250 trillion asset class which is a 100X from right here, which might be the most important progress of any asset class in all of historical past within the shortest time period.”

This is probably the most bullish price prediction we have found (even more bullish than Michael Saylor, who is still coming up). A 100X increase would certainly require cryptocurrency to be mass-adopted as a store of value and a means of payment. While that’s not out of the question, it’s still hard to see it happen in this decade.

The 5 Best Elon Musk Cryptocurrency Quotes

Elon Musk is not the biggest crypto bull, but he may be the most influential one. His Twitter account not only influences markets, but makes them. There are entire (automated) trading strategies that are based on what Elon tweets.

So…what does Elon think about Bitcoin?

What Elon Musk thinks about Bitcoin:

Ø “Bitcoin’s structure is very ingenious. The paper money disappears, and crypto-currencies are a much better way to transfer values than a piece of paper, that’s for sure.”

Ø “I think bitcoin is on the verge of getting broad acceptance by conventional finance people.”

Undoubtedly, cryptocurrency is more cost-efficient than paper money. In some Scandinavian countries it is already difficult to pay with physical money because they have switched almost entirely to cards. How effective cryptocurrency will be at replacing those remains to be seen. Elon is also right that Bitcoin is being slowly accepted by traditional finance and even some governments as a real asset.

However, when asked what he thinks about cryptocurrency regulation, he said the following.

What Elon Musk thinks about cryptocurrency regulation:

Ø “I would say, ‘Do nothing.’ It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement.”

That is a reasonable assumption. Many industry experts have voiced their skepticism about crypto regulation, not because they have something to hide, but because overly strict regulation could kill innovation or at least drive it offshore.

The most interesting — and iconic — Elon quotes are not about Bitcoin, regulation, or policy. They are, of course, about Dogecoin:

What Elon Musk said about Dogecoin:

Ø “I find that often times the most ironic and entertaining outcome is the most likely. And the most entertaining outcome would be Dogecoin becoming the global new earth currency.”

Ø “SpaceX launching satellite Doge-1 to the moon next year. Mission paid for in Doge. 1st meme in space. To the moon!!”

These are obviously just two examples, but Elon’s influence on Dogecoin is infamous. Whether Dogecoin really becomes the first cryptocurrency in space remains to be seen.

The 7 Best Michael Saylor Crypto Quotes

We saved the best for last, and it is really difficult to pick the bigger Bitcoin bull between the two final candidates. Consider it a tied first place, and we start with Michael Saylor. The (in)famous MicroStrategy CEO has pretty much bet his personal and professional future on the success of Bitcoin.

What Michael Saylor thinks about Bitcoin:

Ø “All my best investments were in networks that everyone needed, no one could stop, and few understood. Bitcoin is the monetary network.”

Ø “Bitcoin is digital gold — growing harder, smarter, faster, & stronger due to the relentless progression of technology”.

Ø “Bitcoin is the solution. Everything else is noise.”

Ø “My formula for success is rise early, work late, and buy Bitcoin.”

His most famous quote has become a meme, the highest possible honor in the crypto space.

Michael Saylor has become synonymous with Bitcoin at this point. So much, in fact, that some people stopped taking him seriously, even though they respect his accolades as an investor. Saylor has also specified how exactly you should be buying Bitcoin.

Michael Saylor’s investment approach:

Ø "If you're going to buy any long-dated asset — but especially if you're going to buy property, and if you're going to buy bitcoin — if you wouldn't hold it for a decade, you shouldn't hold it for 10 minutes."

This is the epitome of HODL. Arguably, it has served Saylor pretty well so far (and everyone else who has held Bitcoin for long enough). Mr. Saylor has also commented on how he sees cryptocurrencies as an asset class in general.

What Michael Saylor thinks about cryptocurrencies:

Ø "'Cryptocurrency' is the worst term, because legally, it's not a currency. 'Crypto money' is an intellectual term, but the problem is most people equate money with currency, and so they come down to the same cognitive traps. 'Crypto property' is much better."

For Mr. Saylor, crypto is more an asset you invest in instead of money. To be precise, Bitcoin is. Because remember: there is no second-best.

The 5 Best Jack Dorsey Crypto Quotes

The final Bitcoin bull on the list is former Twitter CEO Jack Dorsey. While we don’t know how much Bitcoin he holds, we know he holds Bitcoin dear.

What Jack Dorsey thinks about Bitcoin:

Ø “Bitcoin changes absolutely everything, I don’t think there is anything more important in my lifetime to work on.”

Well, now we know the real reason why Jack quit Twitter. In fact, we don’t even have to guess.

What Jack Dorsey said about his future and Bitcoin:

Ø “If I were not at Square or Twitter, I’d be working on bitcoin.”

After quitting Twitter, Mr. Dorsey hasn’t commented about what he will do professionally, but many assume it will be related to Bitcoin.

He also thinks Bitcoin will become the global reserve currency, although it is not going to happen quickly.

What Jack Dorsey thinks about Bitcoin as a reserve currency:

Ø “It’s slow and it’s costly, but as more and more people have it, those things go away. There are newer technologies that build off of blockchain and make it more approachable.”

Ø “The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin, probably over ten years, but it could go faster.”

It’s a gutsy prediction, but Jack seems absolutely convinced that it will happen. Jack quoted Bitcoin’s community as a reason for his conviction.

What Jack Dorsey thinks about the Bitcoin community:

Ø “What inspires me the most [about bitcoin] is the community driving it. It reminds me of the early internet. It’s deeply principled, it’s weird as hell [and] it’s always evolving. It just reminded me of the internet as a kid.”

Conclusion

Although the heuristic older investor = Bitcoin bear is not quite accurate (Michael Saylor is in his 50s), it’s interesting to see that the two oldest investors are vehemently against Bitcoin, while the nouveau riche is pro-crypto. If that’s anything to go by, crypto is in for a bright future.