Bitcoin, the leading cryptocurrency, recently surpassed the $100,000 mark for the first time.
Despite this achievement, there are still critics who remain skeptical of the digital asset. These critics, including economists and financial executives, continue to voice their concerns about Bitcoin, even as it gains acceptance in various financial circles.
Peter Schiff, a well-known stockbroker and gold advocate, has been a vocal opponent of Bitcoin since its early days. He has expressed concerns about the U.S. government potentially creating a strategic Bitcoin reserve, labeling Bitcoin a "national security threat" and a "public enemy number one."
Nobel Prize-winning economist Paul Krugman has also been a long-time critic of Bitcoin, citing its association with illegal activities and questioning its legitimacy and utility.
The European Central Bank (ECB) has criticized Bitcoin for failing to fulfill its promise as a global decentralized digital currency and for primarily serving illicit transactions.
Jamie Dimon, CEO of JPMorgan Chase, has consistently dismissed Bitcoin, referring to it as a "pet rock."
Rafi Farber, a critic and publisher, argues that Bitcoin's rising price contributes to inflationary pressures in the U.S. economy.
The ongoing debate surrounding Bitcoin's role in the economy is likely to persist as regulatory frameworks evolve and the cryptocurrency landscape continues to change.