Speaking on CNBC’s ‘Squawk Box‘, investor and publisher of The Gartman Letter Mr. Dennis Gartman isn’t quite feeling so bullish on bitcoin.
Speaking about his preferred investments, Gartman wasn’t shy about denouncing bitcoin, saying he’s avoiding investing in the digital currency totally.
“I want to own the things that if I drop them on my foot will hurt,” he said, speaking about his investments in things like aluminum and coal. “So, very simple things that go into long-term economic–”
“Like bitcoin?” the program’s host asked.
“Not like bitcoin. I will avoid bitcoin like the plague,” he said.
Gartman mentions one of his best friends on the west coast (named Brad) who takes great interest in bitcoin and added that “the only reason I have any interest in it at all is because somebody as smart as Brad has interest in it.”
When asked if he owned some, Gartman said he didn’t, of course:
“Never […] I would never own it,” he said. “It is the harbor of thieves and drug dealers and I shall leave that to others.”
Back in January, Gartman told CNBC he thought bitcoin will ultimately go to zero.
Gartman’s controversial statements are already spreading like wild fire on social media, and no surprise, he’s taking no shortage of flak.
But it all goes back to this common misunderstanding of what bitcoin is. Somehow, most naysayers seem to bring it back to its potential for use in crime — completely disregarding its benefits.
It’s abundantly clear that businesses and enthusiasts in the bitcoin space need to continue working tremendously hard to earn the trust of everyday people. All it takes is a few bad players to sour the name.
Jabber0ne 
paulsnx2 
Black Dynamite 
BitcoinDiplomat 
Tom Klima 
Carnegie 
Gjgjg 
Bill Rizzo 
Simba 
Never heard of this guy. He reminds me of Edison who didn’t see the value in Alternating Current and claimed it would kill people. Glad that Tesla won the AC/DC battle as otherwise we would be in the dark ages, where Gartman would like to be.
Well, then, maybe he should consider the fact that if he drops his computer on his foot it would hurt…
His ignorance is only exceeded by insolence.
No currency has, or ever will be, used more for illegal activity than the dollar, and he can’t wait to use that!
So I guess that makes him a criminal by association?
I’ll run his punk — in myself!
BD
Rest assure he will be working for Brad in a few years.. What an absolute idiot.. Drug Dealers use USD not Bitcoin.
Who is this idiot and why does his opinion even matter and what is CNBC?
Buy Signal
Old white rich guy? Check
Technophobe that only invests in tangible things? Check
Craps on bitcoin? Check.
Perfect buy signal.
It’s amusing how history repeats itself yet ppl keep making the same mistakes… People even thought electricity was s fad that would pass.
Also worth noting that 95% of investors who are bears on a certain opportunity arr not bullish because they know they missed the boat and just want the price to come down to decide to buy on or watch it crash and say ‘told u’ . Smart move, but kust means one needs to ignore their face and watch their wallets.
United States Dollar:
“The Harbor of Thieves and Drug Dealers”
oh me oh my ….. and these fools get press …….