Benzinga - Samson Mow took a jibe at the criticisms directed toward Bitcoin (CRYPTO: BTC) by prominent figures and vocal Bitcoin critics Jim Cramer and ‘Black Swan' author Nassim Nicholas Taleb.
What Happened: Mow, the CEO of Bitcoin firm Jan3 told Benzinga, “Firstly, you should do exactly the opposite of what Cramer says… It’s just constant noise.”
When Bitcoin broke the $17,000 price in January, Cramer said it was an excellent opportunity to exit the market. In his words: "[It is a] good chance again to get out of crypto and scale out of Chinese stocks as neither can be trusted."
Earlier, in March, he urged investors to exercise caution while dealing with Bitcoin, as the cryptocurrency is still subject to manipulation. On Mad Money, Cramer warned that “Bitcoin is a strange animal,” and investors should sell their holdings amid the rally.
Regarding Taleb, Mow said, “The thing is you can always make a living of being a Bitcoin critic because people always want to have a balanced view… It is all gibberish that doesn’t make sense. I don’t think a lot of people put a lot of weight into what these guys say. Not Cramer and not Taleb.”
Taleb's opinion is that the idea of Bitcoin being used for transactions and as a financial product is nothing but a fad. In June, he said Bitcoin isn't even suitable for its infamous reputation as a tool for illicit financial transactions.
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Bitcoin In Politics: Mow anticipates cryptocurrency becoming a crucial issue in election campaigns, with candidates placing greater emphasis on its benefits.
Mow specifically praised Robert Kennedy Jr.’s support for Bitcoin, acknowledging his popularity and the resonance of his message among the US populace.
It should be noted that Kennedy Jr., is a vocal supporter of Bitcoin. In June, he said, “the blockchain technology that's coming out of Bitcoin will be very useful.”
Mow adds, “I’ve been saying for some time that Bitcoin is becoming a key issue in politics… It will start bleeding into election campaigns as people run for presidents and prime ministers of different countries.”
He also noted, “We’ve seen candidates on both sides of the aisle that are talking about Bitcoin.”
Price Action: At the time of writing, BTC was trading at $30,122, down 2.48% in the last 24 hours, according to Benzinga Pro.
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