Cryptocurrency is far from universally loved. Many celebrities, including financial market legends, criticize digital assets.
The Quickex editorial team has collected the most striking statements from crypto opponents. Here’s why digital assets have failed to win over people whose opinions influence many investors.
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Paul Krugman
Paul Krugman is an American economist, Nobel Prize laureate, and columnist. He has repeatedly expressed skepticism about cryptocurrencies and their role in the economy.
He is concerned about what problem cryptocurrency actually solves. Among other things, the scholar does not understand what makes crypto better than existing technologies, including modern payment systems. Krugman does not consider blockchain technology to be anything exceptional.
The economist also wrote that “crypto has turned into a kind of postmodern pyramid … the industry lures investors with a combination of technical jargon and libertarian nonsense.” With such remarks, he has repeatedly emphasized the hype around the digital asset market, which, in his opinion, attracts uneducated people.
He also claimed that Bitcoin “looks like a bubble in many ways … there’s certainly no reason to hold this currency.” According to Krugman, the real value of cryptocurrency is significantly lower than what we see on charts.
The economist also criticizes government support for digital assets. In his opinion, forming a national crypto fund in the U.S. would be a mistake.
Warren Buffett
Warren Buffett is a legendary investor and the head of Berkshire Hathaway. His sharp remarks about crypto are often quoted by skeptics.
He claims that cryptocurrencies “will end badly.” In his view, digital assets have no hope for a bright future.
Buffett criticizes cryptocurrency
Buffett also said: “If you told me you could own all the bitcoins in the world and offered them to me for $25 — I wouldn’t take it, because I don’t know what I would do with it. I’d have to sell it back to you somehow.”
The legendary investor is unbothered by the fact that Bitcoin’s price has long exceeded $100,000 and that demand for cryptocurrency continues to grow.
He calls Bitcoin “rat poison squared.” He emphasizes: cryptocurrencies produce nothing — you don’t get a check, a dividend, or income — and their only value lies in the hope that someone will pay more later.
Buffett has invested in cryptocurrency through Nubank.
Joseph Stiglitz
Joseph Stiglitz is an American economist and Nobel Prize laureate.
He stated: “Bitcoin is successful only because of its potential to evade rules and the absence of oversight.” Stiglitz believes that cryptocurrency has no real value. In his view, even in 2025 the coin can be considered solely a speculative tool for the black market.
Stiglitz also said that cryptocurrencies “perform no socially useful function.” Yet practice shows the opposite. In many countries, citizens use digital assets to protect their savings from inflation. Crypto also helps transfer funds to other countries under conditions of financial isolation.
He suggests that governments should ban cryptocurrencies because they compete with the traditional financial system and facilitate regulatory evasion. At the same time, Stiglitz refuses to acknowledge any advantages of digital assets.
Charlie Munger
Charlie Munger was Warren Buffett’s business partner and one of the harshest critics of cryptocurrency. He is known for many biting remarks about digital assets.
He described cryptocurrency as “an investment in nothing.” In his view, crypto investors are deluded. In reality, there is no benefit in buying cryptocurrency, Munger insists.
He once compared cryptocurrency to “an open sewer.” To “stay clean,” he recommended that all investors avoid deals with digital assets.
Munger criticizes cryptocurrency
It’s not surprising that Buffett and Munger were business partners for many years. They are united by a rejection of new investment instruments and a fondness for cash dollars.
Robert Shiller
Robert Shiller is a Nobel Prize–winning economist known for his research on economic bubbles and behavioral economics.
He compares Bitcoin to a bubble and says it is “absolutely fascinating,” but extremely dangerous. In his opinion, crypto supporters could drive the market into a crisis similar to the one that happened in 1929.
Shiller has repeatedly agreed with his colleagues’ critical remarks about cryptocurrency. He believes there is more harm than good in digital assets.
Other Critics and Skeptics
Bill Gates: Gates’s statements are often cited in the media. He is skeptical of cryptocurrencies, viewing them as tools for speculation and abuse.
Kenneth Rogoff: an economist who characterizes Bitcoin as “a financial experiment backed by nothing.”
Regulators and central bank heads, such as Christine Lagarde of the European Central Bank, have repeatedly expressed concern that cryptocurrencies lack intrinsic value. Central bankers fear that crypto assets may be unstable and threaten the financial system.
Conclusions
Unfortunately, not everyone supports the ideas of decentralization. Many renowned economists and public figures believe that cryptocurrency is harmful. They are unmoved by arguments about digital assets being a useful alternative to outdated fiat. They think all crypto investors are making a mistake. Who is right — Bitcoin’s critics or the crypto community — only time will tell.
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