Bitcoin is under siege from all sides, but many billionaires are still betting on it

It is generally believed that the fundamental reason for this round of crypto asset bull market is global quantitative easing, but due to the current tightening of monetary policies in various countries and the continuous short-term negative news, the crypto market has fallen one after another, and Bitcoin is "besieged on all sides." Despite this, in the past month, many billionaires have still focused on the Bitcoin market, and there are also many people who bet on Bitcoin in related asset allocation.

On June 28, Ricardo Salinas Pliego, Mexico’s third-richest man, noted on Twitter that the bank he founded, Banco Azteca, aims to become the first bank in the country to accept Bitcoin. Salinas runs the Salinas Group, a massive conglomerate that controls the bank he founded 19 years ago. If he manages to get Banco Azteca to accept Bitcoin, the bank will join a small but growing list of banks that transact in Bitcoin. The bank claims to be one of the largest in Mexico, with more than 16 million savings accounts and 19 million credit accounts. Until 2019, the bank operated in El Salvador, which recently declared Bitcoin legal tender.

On June 28, Gemini co-founder and Bitcoin billionaire Cameron Winklevoss tweeted: There are 46.8 million millionaires in the world. There are only 21 million Bitcoins - less than half of the people can own 1 Bitcoin. Don't miss the revolution.

On June 23, Dallas Mavericks owner and billionaire Mark Cuban tweeted that Bitcoin is better than gold. Don't worry about how to store it, it is easy to transfer, easy to trade, easy to convert, does not require an intermediary, and can be divided. On June 21, Mark Cuban said that he was studying cryptocurrency in depth, had completely changed his mind, and would not miss this.

On June 21, billionaire real estate mogul Frank McCourt will invest $100 million in a project that leverages blockchain technology in an attempt to democratize access to social media data.

On June 19, hedge fund billionaire and Point72 Asset Management boss Steve Cohen said in an interview that he has "completely turned" to cryptocurrency. Cohen said you can say whatever you want, but you have to get into the game.

Billionaire venture capitalist and Bitcoin investor Tim Draper is sticking with his bullish view on Bitcoin, saying it will hit $250,000 by the end of 2022 or early 2023 despite the cryptocurrency's wild swings in value, he told CNBC's "Make It." Draper first made his bold price prediction in 2018, predicting that "give it a year and a half and retailers will be on Opennode (a Bitcoin payment processor), so everyone will accept Bitcoin."

On June 14, billionaire hedge fund manager Paul Tudor Jones said that Bitcoin is mathematics, and mathematics has existed for thousands of years. Jones said: "I like the idea of ​​investing in something that is reliable, consistent, honest and 100% certain. Bitcoin is attractive to me because it is a way for me to invest in certainty. At this particular moment, I want 5% gold, 5% BTC, 5% cash and 5% commodities. I don't know what I want to do with the other 80% of my assets. I want to wait and see what the Fed does on Wednesday."

On June 11, billionaire fund manager Alan Howard invested $25 million in London crypto custody company Copper. Copper said the funds will help Copper promote the adoption of crypto and distributed ledger technology by traditional financial institutions. Earlier news came that crypto custody company Copper completed a $50 million Series B financing.

American billionaire and investment banker Ken Moelis said the recent Bitcoin craze is similar to the gold rush of 1848. Speaking about the future of the cryptocurrency market, Moelis said people's interest in Bitcoin is growing.

On June 8, billionaire hedge fund founder Marc Lasry said on the show that he regretted not buying more Bitcoin. He also predicted that if more and more people start using Bitcoin, Bitcoin will continue to climb.

Ray Dalio, founder of Bridgewater Associates, said in an interview with CNBC that Bitcoin is "an alternative currency." Bitcoin is expected to develop in the next few years, but the digital yuan may compete with it. In addition, he said he is more worried about the inflation of financial assets. He also pointed out earlier that there is currently little motivation to hold US dollars. The US dollar does not pay interest, and the yield on US bonds is not high. In the end, people will choose to invest in "almost anything else" - stocks, gold, Bitcoin, real estate, rather than the US dollar.