George Soros Says ‘Bitcoin Is For Dictators’ But Still Invests In It

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Billionaire globalist George Soros has slammed Bitcoin
 investors branding them as 'dictators' despite continuing to invest in the cryptocurrency himself.  

Soros has made critical remarks about crypto dispute buying shares in cryptocurrency company Overstock.

Soros, who spoke at the World Economic Forum in Davos, Switzerland, called Bitcoin a “nest egg for dictators” comparing it to a “typical bubble.”

Soros Fund Management held 2,472,188 shares in Overstock at the end of 2017, making him the third largest shareholder according to CNBC.

The shares are worth $157.97 million at the time of investment but had plummeted in value by $10 million as of Wednesday.

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Overstock has attempted to reshape its business model in an attempt to adapt tot he rapidly changing financial climate by accepting Bitcoin. The company also held a coin offering (ICO) via its exchange, tZero, last year.

Is Bitcoin a real threat to the elites?

According to Cointhud: Despite mainstream attacks on Bitcoin, a top hedge fund CEO has predicted that Bitcoin’s price is expected to see a sharp rise in two weeks time

In an interview with CNBC, Dan Morehead, Chief Executive Officer and founder of Pantera Capital has suggested a major price surge is just around the corner.

Bitcoin, the world’s largest cryptocurrency by market capitalization, has continued to rebound from last week’s lows.

Bitcoin is a 'noxious poison,' billionaire sayshttps://t.co/NlwKioj4HZ

— TIME (@TIME) February 15, 2018

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Morehead said that despite a recent market sell-off that caused a drop in price, Bitcoin and the entire digital currency space is back on track to rake in returns for investors.

RT reports: Owner Patrick Byrne told CNN in December he wanted to sell off the retail business and focus on Overstock's ownership of 10 blockchain companies.

He added, however, that blockchain technology could be put to "positive use," like sending cash to illegal migrants arriving in Europe.

The company he has invested in has a completely different stance on bitcoin. Overstock’s Byrne told Fox that bitcoin could surge to $1 million, and called it “the most important change in 6,000 civilizations of technology.”