Prince Alwaleed Bin Talal Bashes Bitcoin. “It’s the Next Enron” (Video)

“I just don’t believe this Bitcoin thing.” – Prince Alwaleed Bin Talal

Kingdom Holding Company Chairman Prince Alwaleed Bin Talal was interviewed on CNBC today where he discussed a plethora of political and financial topics. The one that appears to be capturing the most attention is his comments on Bitcoin, or cryptocurrency in general, as he stated, “I just don’t believe this Bitcoin thing.”

The Prince went on to describe Bitcoin as Enron-like, referencing one of the most famous financial frauds of all time. “Enron in the making.” said the Prince.

He went on to criticize Bitcoin as it is unregulated and not under the control of any governmental agencies such as the Federal Reserve. Of course, this lack of government control is part of the global appeal of Bitcoin.

“I am in agreement with JP Morgan, said Prince Alwaleed. Referencing Jamie Dimon’s famous comment where he labeled Bitcoin a fraud.

Meanwhile, the exchange rate of one BTC has rocketed in the last year recently touching $6000 per BTC.

Watch the video below.

 

Prince Alwaleed Bin Talal: Bitcoin will ‘implode’ one day from CNBC.


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