- Ben McKenzie, a popular actor, says he didn’t rush into crypto during its early days of popularity.
- McKenzie states that Satoshi Nakamoto designed Bitcoin
to function as a currency.
- McKenzie acknowledges the appeal of Bitcoin, but does not believe its value is real.
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Famous actor Ben McKenzie, known for his critical approach to Bitcoin, admits the attraction in Bitcoin, but does not believe that its value is real.
McKenzie Approaches Bitcoin with Caution
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Ben McKenzie, a popular actor, reveals that he did not rush into crypto during its initial wave of popularity, opting instead to do more research and learning about the emerging technology at that time.
McKenzie notes that Satoshi Nakamoto designed Bitcoin to function as a currency. However, according to his discovery, this pioneering cryptocurrency did not operate in that manner. This discovery made him more curious as he attempted to understand that Bitcoin did not function as a traditional currency. Initially, McKenzie believed Bitcoin was a scam. He says that the events surrounding the crypto industry in 2021 created the notion that it could be a large Ponzi scheme.
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McKenzie explains that one of the reasons why crypto attracts many people, apart from those who see it as a get-rich-quick scheme, is that they can find anything they want within it. Alongside those who view it as a means to quick wealth, McKenzie mentions a user group that is interested in the technology.
Among the user categories identified by McKenzie are those interested in crypto due to its potential to create intergenerational wealth, its ability to include the unbanked in banking services, and its designation as the currency of the future.
McKenzie Acknowledges the Appeal of Bitcoin but Does Not Believe in Its Value
McKenzie acknowledges that users perceive Bitcoin’s primary appeal as an investment rather than a currency, and he accepts many of its features as the main draw. However, he believes that the claim of Bitcoin exceeding $1 trillion in value is not real. According to Alex Mashinsky, the actual amount of Bitcoin is around 10-15%.
McKenzie states that individuals who buy Bitcoin should understand that only approximately 15% of the quoted value represents the true value of their digital assets. In his statement, Ben McKenzie refers to the low liquidity in crypto and the majority of the market volume being leveraged.