Bitcoin Will “Implode” One Day

Saudi billionaire investor Prince Alwaleed bin Talal said Monday that bitcoin will “implode” one day.”It just doesn’t make sense. This thing is not regulated, it’s not under control, it’s not under the supervision” of any central bank, Alwaleed said in an interview on CNBC’s “Squawk Box.””I just don’t believe in this bitcoin thing. I think it’s just going to implode one day. I think this is Enron in the making,” Alwaleed said.

Source: Prince Alwaleed says bitcoin will implode: ‘Enron in the making’ – CNBC

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.