Fear, Uncertainty, and Doubt (F.U.D.) have been used to control man for years.
People who know little about a topic will put out F.U.D. about the topic until they have a chance to conduct their own due diligence.
These influencers are in a better position to take advantage of the topic once they know more about it.
Bitcoin has been one of those topics a lot of Fear, Uncertainty, Doubt has been put out about.
Jamie Dimon – CEO of JP Morgan Chase – the largest bank in the United States has put out Fear, uncertainty, and doubt about Bitcoin:
- In September 2017, Jamie Dimon called Bitcoin a fraud.
- In January 2018, Jamie Dimon says he regrets calling Bitcoin a fraud, but he believes in the technology behind it (he was preparing for a way out because he was going to start studying the technology behind Bitcoin which is the blockchain)
- In 2019 JP Morgan Chase unveils JPM Coin – the cryptocurrency it would use on its own exchange to transfer money overseas for its wealth and business clients.
- When questioned about his shift by congress, he talks about blockchain and how cryptocurrencies have no value behind them. (Be careful what you say because the U.S. Dollar has not been backed by anything since August 15, 1971, when President Nixon took the U.S. and the world off the Gold Standard.)
- Like any banker would say, cryptocurrencies must be regulated so that they can have a central controlling authority and the market can be flooded with them when the controlling authority needs more in the money supply just like any FIAT Currency.
- In 2020 JP Morgan Chase took on Coinbase and Gemini as cryptocurrency customers
Michael Saylor – Co-founder of MicroStrategy – a company that provides business intelligence, mobile software, and cloud-based services has put out Fear, uncertainty, and doubt about Bitcoin in the past.
In 2013 Saylor sent out the following tweet:
When questioned about that Tweet in 2020, Saylor says he hardly remembers sending that Tweet. Today Saylor Tweets a lot less than he did back in 2013 and knows anything he says about Bitcoin today could have a huge effect on MicroStrategy’s Bitcoin holdings.
Saylor has invested approximately $425 million of MicroStrategy’s money in Bitcoin and holds about 71000 Bitcoins on its balance sheet.
Saylor himself owns approximately 18,000 Bitcoins and is probably the reason Elon Musk invested $1.5 billion in Bitcoin after three SpaceX executives attended a meeting held by Saylor.
Kevin O’Leary – Mr. Wonderful of Shark Tank – in a CNBC interview in 2019, Mr. Wonderful put out fear, uncertainty, and doubt about bitcoin when he called Bitcoin a useless currency and garbage because you could not get into and out of it in large amounts.
Less than two years later, he admits he has held Bitcoin since 2017, but could not say so publicly because of his fiduciary responsibilities.
Kevin now invests in Bitcoin Miners who mine Bitcoin in western countries who have passed regulations concerning Bitcoin and other cryptocurrencies.
Mr. Wonderful says he wants nothing to do with Bitcoins mined in China or other countries with Human Rights issues or are on the U.S. Sanctions list.
Do Not Believe the Fear, Uncertainty, and Doubt
Now that institutional money is flowing into Bitcoin and other cryptocurrencies. The F.U.D. put out by those who are now invested heavily into Bitcoin is causing people to be skeptical when it comes to investing in Bitcoin.
Add the fraud that has been committed by “Promise to Pay” websites that have run off with people’s cryptocurrencies over the years, and the working man and woman become more hesitant about putting any money into Bitcoin and other cryptocurrencies.
Do not believe the Fear, Uncertainty, and Doubt, but follow the money, and right billions of dollars are being invested into Bitcoin and other cryptocurrencies by institutional investors.
You may not have millions or billions to get into the cryptocurrency space, but cryptocurrency trading is allowing the working man and woman to get into the crypto space and still make a killing financially.
Watch the video below and decide for yourself:
After watching the video above please contact me to get your questions about the video answer by calling 1-877-515-9650.
As always, conduct your own due diligence so that you make an educated decision instead of one based on emotions.
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DISCLAIMER: I am not a financial advisor, planner, or CPA, and I am not giving anyone investing advice, I am just sharing information I know and use in my own decision-making about cryptocurrencies. If you need financial advice, please seek the advice and guidance of a licensed financial advisor, planner, or CPA with knowledge of cryptocurrencies.