Saudi Prince: Someday Bitcoin Will Collapse Saudi Prince and billionaire Alwaleed ibn Talal believes that someday bitcoin will collapse. He stated this on the air of the "Squawk Box" program on CNBC.

Saudi Prince: Bitcoin Will Collapse Someday

The Saudi prince and billionaire Al-Walid ibn Talal believes that someday the bitcoin rate will collapse. He stated this on the air of the "Squawk Box" program on CNBC.

“It just doesn't make sense. [Bitcoin] is not regulated, controlled, monitored by anyone, ”he said.. “I don't believe in bitcoin. I think one day it will collapse. I think this is Enron in the process of development (note - Enron is an American energy company that went bankrupt in 2001) ".

Previously, venture capitalist and co-founder of Union Square Ventures Fred Wilson made a similar point, advising investors to prepare for the inevitable cryptocurrency crash..

Not surprisingly, after these words, Al-Waleed ibn Talal stated that he fully supported the CEO of JPMorgan Chase James Dimon, who declared that Bitcoin was a hoax, and then suddenly discovered a large number of supporters who believe the same.

For example, last week, lawyer, finance expert and bestselling author James Rickards, who does not miss the opportunity to criticize the CEO of JPMorgan Chase, said that this is the only issue on which he agrees with Daimon, and that Bitcoin has not yet passed the "battle test".

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