This article was last updated on June 10, 2022
As the most popular and most valuable cryptocurrency in the world, Bitcoin has received a lot of media attention over the years. Many prominent entrepreneurs, investors, and financial professionals have weighed in on the subject. While most are optimistic about the opportunities that this revolutionary new technology has presented, there are also those who are skeptical. However, one thing is for certain, Bitcoin is here to stay and has forever changed the global financial landscape. Below are some of the more notable Bitcoin quotes.
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What Is Bitcoin
Bitcoin is the first cryptocurrency ever created. Developed by an anonymous programmer called Satoshi Nakamoto, it utilizes revolutionary blockchain technology that allows it to operate completely autonomously. The blockchain itself is essentially a virtual ledger that records all transactions made with the currency. In order to run, various users around the world can contribute processing power from their computers to power this network. As a result, it eliminates the need for a central server and is completely decentralized.
Over the past several years, Bitcoin and various other cryptocurrencies have soared in value. At the time of writing, it is priced at well over $65,000 and continues to grow. As the most valuable crypto, Bitcoin has entered the mainstream conscience and is receiving wide integration into various systems.
Top Bitcoin Quotes
As the number one cryptocurrency, Bitcoin is often a subject of public discourse. Many notable figures have been very outspoken when it comes to the new form of finance. Here are 42 of the most famous and memorable Bitcoin quotes from prominent specialists.
“It’s money 2.0, a huge hugehuge deal.”Chamath Palihapitiya (Former head of AOL instant messenger)
“I describe Bitcoin as “a digital version of gold” eGold.”Arif Naseem (Politician)
“Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative.”Nassim Taleb (Risk Analyst)
“Bitcoin is the most important invention in the history of the world since the Internet.”Roger Ver (Bitcoin.com CEO)
“Right now Bitcoin feels like the Internet before the browser.”Wences Casares (Xapo CEO)
Quotes About The Future Of Bitcoin
Many see Bitcoin and cryptocurrencies as the logical next step in the world of finances. The currency promises to cut out the need for centralized banking and connect users with one another. This has far-reaching implications, both political and economic. If we fully integrate cryptocurrency into society, it could eliminate the entirety of the banking sector, as the process would be automized.
“Bitcoin will do to banks what email did to the postal industry.”Rick Falkvinge (Founder of the Swedish pirate party)
“Cryptology represents the future of privacy [and] by implication [it] also represents the future of money, and the future of banking and finance.”Orlin Grabbe (Economist)
“Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value.”Eric Schmidt (Google CEO)
“Bitcoin may be the TCP/IP of money.”Paul Buchheit (Creator of Gmail)
“Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.”Leon Luow (Co-Founder of the Free Market Foundation and Nobel Peace Prize nominee)
Bitcoin Quotes From Famous Tech And Financial Experts
Some of the world’s wealthiest and most prominent entrepreneurs and economists have also recognized the potential of Bitcoin and have invested heavily into the cryptocurrency. These include the likes of Elon Musk, Mark Cuban, and Sir Richard Branson. The latter even took the opportunity to promote his own space travel company by likening it to Bitcoin in this quote.
“Virgin Galactic is a bold entrepreneurial technology. It’s driving a revolution and Bitcoin is doing just the same when it comes to inventing a new currency.”Sir Richard Branson (Founder of Virgin)
“Bitcoin is a techno tour de force.”Bill Gates (Microsoft Co-Founder)
“You can’t stop things like Bitcoin. It will be everywhere and the world will have to readjust. World governments will have to readjust.”John McAfee (McAfee Founder)
“[Virtual Currencies] may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.”Ben Bernanke (Chairman of the Federal Reserve)
“Gold is a great way to preserve wealth, but it is hard to move around. You do need some kind of alternative and Bitcoin fits the bill.”Jim Rickards (Investment Banker and Economist)
“Ten percent of my net worth is in this space.”Mike Novogratz (Galaxy Investment Group CEO)
“Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency… for large transactions, currency can get pretty inconvenient.”Bill Gates (Microsoft Co-Founder)
Quotes Highlighting The Currency’s Security
Bitcoin is also touted as highly secure. Since its underlying blockchain technology is virtually impregnable, it provides more safeguards than conventional banking systems. As there are countless machines running and backing up the virtual ledger, it is impossible to hack the main system. As such, any potential weak points would be solely on the user’s side.
“Entire classes of bugs are missing.”Dan Kaminsky (Security Penetration Expert)
“We have elected to put our money and faith in a mathematical framework that is free of politics and human error.”Tyler Winklevoss (Facebook Co-Creator)
“Bitcoin is not “unregulated. It is regulated by algorithm instead of being regulated by government bureaucracies. Un-corrupted.”Andreas Antonopoulos (Blockchain Expert)
“Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential.”Marc Kenigsberg (BlockSmarter Founder)
Related: Shiba Inu Price Forecast
Political Bitcoin Quotes
Many activists and social advocates see Bitcoin as a means to disrupt the current social hierarchy. Due to its high value and anonymous nature, the cryptocurrency levels the economic playing field in many ways. As citizens become less reliant on centralized banks and government agencies, they can act more freely. This can be best illustrated through this famous quote from Bitcoin co-developer Amir Taaki.
“Bitcoin was created to serve a highly political intent, a free and uncensored network where all can participate with equal access.”Amir Taaki (Bitcoin Co-Developer)
“Cryptocurrency is such a powerful concept that it can almost overturn governments.”Charles Lee (Litecoin Creator)
“The relative success of the Bitcoin proves that money first and foremost depends on trust. Neither gold nor bonds are needed to back up a currency.”Arnon Grunberg (Writer)
“Bitcoin is a very exciting development, it might lead to a world currency. I think over the next decade it will grow to become one of the most important ways to pay for things and transfer assets.”Kim Dotcom (MegaUpload CEO)
“I do think Bitcoin is the first [encrypted money] that has the potential to do something like change the world.”Peter Thiel (PayPal Co-Founder)
“There are 3 eras of currency: Commodity based, politically based, and now, math based.”Chris Dixon (Co-Founder of Hunch and SiteAdvisor)
“There is so much potential, … I am just waiting for it to be a billion dollar industry. Wow, Silk Road actually works”Charlie Shrem (BitInstant Co-Founder)
“Whenever the price of cryptocurrency is rallying, people start spending a lot more.”Erik Voorhees (Coinapult Co-Founder)
Skeptical Bitcoin Quotes
However, some have doubted the technology. Traditional economists see cryptocurrencies as a fad and strongly oppose their wide adoption. These include notable figures like investor Warren Buffet and Steve Forbes. However, while these are only opinions, the impact the blockchain has on the environment is undeniable.
Since operating blockchains is incredibly resource-demanding, they require copious amounts of power. Bitcoin alone uses more electricity than the entire nation of Argentina. This has a severe negative impact on the environment and is contributing to the already dire climate crisis.
“Stay away from it. It’s a mirage, basically”Warren Buffet (Chairman and CEO of Berkshire Hathaway)
“We don’t really know how this coin is created. You can’t have a functional money without a basic transparency. Unless you are addicted to volatile trading for the sake of trading, stay away from the Bitcoin. Thankfully its plunge will be a salutary caution to most folks.”Steve Forbes (Forbes Editor-in-Chief)
“PayPal had these goals of creating a new currency. We failed at that… I think Bitcoin has succeeded on the level of a new currency, but the payment system is lacking.”Peter Thiel (PayPal Co-Founder)
Other Famous Bitcoin Quotes
While public opinions are conflicting on the subject of Bitcoin, it is undeniable that the cryptocurrency is making serious waves in the financial world. It is the leader in its field and is ushering in a new era of finance and banking.
“So my view’s quite clear. I believe cryptocurrencies, Bitcoin is the first example, I believe they’re going to change the world.”Richard Brown
“The internet is going to be one of the major forces for reducing the role of government. One thing that’s missing but that will soon be developed, is a reliable e-cash.”Milton Friedman (American Economist)
“At its core, Bitcoin is a smart currency, designed by very forward-thinking engineers.”Peter Diamandis (X Prize Foundation Founder)
“Spend some time with Bitcoin. Learn it, challenge it, and use it. You can assume no government wants you adopting this system in any capacity, and for that reason alone it’s worth consideration by honest, moral, and industrious people”Erik Voorhees (Coinapult Co-Founder)
“I am very intrigued by Bitcoin. It has all the signs. Paradigm shift, hackers love it, yet it’s derided as a toy. Just like microcomputers.”Paul Graham (Yahoo! Store Founder)
“I think the fact that within the bitcoin universe an algorithm replaces the functions of [the government] … is actually pretty cool. I am a big fan of Bitcoin.”Al Gore (45th Vice President of the United States)
Final Bitcoin Quotes
“Bitcoin is unstoppable.”Roger Ver (Bitcoin.com CEO)
“Bitcoin actually has the balance and incentives right, and that is why it is starting to take off.”Julian Assange (Founder of Wikileaks)
“Economists and journalists often get caught up in this question: Why does Bitcoin have value? And the answer is very easy. Because it is useful and scarce.”Erik Voorhees (Coinapult Co-Founder)
“Bitcoin, and the ideas behind it, will be a disrupter to the traditional notions of currency. In the end, currency will be better for it.”Edmund C. Moy (Former Director of the United States Mint)
While Bitcoin might be a popular topic, it is also a hot-button issue for many. This has caused a large public debate on whether we should continue to invest in and expand the cryptocurrency model. On the one side are the staunch defenders of this technology. They believe it is the future of finance and will lead to sweeping reform in the sector. The above bitcoin quotes express this opinion quite well.
Meanwhile, skeptics see cryptocurrencies as a fad and do not believe that they will stick around. Ecologists are also deeply concerned due to the ecological impact of powering the underlying blockchain technology.
While both sides have valid arguments, they will need to reach a middle ground as cryptocurrencies have already proven that they are here to stay. Economists should think about the future and how cryptocurrencies will further affect the economy. Meanwhile, crypto developers should focus on finding a sustainable way to power blockchains. Only once this has been achieved will we be able to create a truly decentralized and autonomous banking system.
Whatever the case with cryptocurrencies may be, they are certainly a widely debated topic and all of these great bitcoin quotes have come as a result of that.