Many so-called Wall Street experts have come forward over the years to criticize bitcoin and other cryptocurrencies. Some see bitcoin as a bubble and that it will soon burst at the expense of investors and speculators. Others believe that the top cryptocurrency will eventually die because of its inability to scale.
Now, another Wall-Street personality is gaining Twitter engagement because of his views on cryptocurrency. He believes that bitcoin along with almost every other cryptocurrency will collapse. The arguments that he presents are hilarious and show his total lack of understanding of what bitcoin offers.
Peter Mallouk, president of Creative Planning, shared his two cents on the future of cryptocurrency on CNBC. The Wall Street executive claimed that bitcoin and other cryptocurrencies “will not work out.” He also said that investing in the top cryptocurrency is not the way for a young people to build their wealth.