Dionne Warwick:
She sang “Walk on By” and “Do You Know the Way to San Jose” in the 1960s. This year she’s been asking Twitter if users know about meme stocks. You read that right.
“What are stonks and why is it a trending subject?” the singer posted in late January.
Last month, her account went a step further, posting a picture of a Dogecoin with her face emblazoned across the image. Stranger things have happened.
The Financial Mavericks
Cathie Wood:
The stock picker turned cult figure took a risk investing in Bitcoin in 2015 and has since become a major bull.
Now, Wood’s Ark Investment Management wants to lend its name to a Bitcoin exchange-traded product. 21Shares US LLC, an affiliate of Zug, Switzerland-based 21Shares AG, is listed as sponsor of the proposed ETF in a government filing made last month, with Ark Investment Management providing marketing assistance.
U.S. regulators are taking their time on approval of Bitcoin ETFs, and said in June that they wanted to get more public comment.
As for Wood, the investor has said she sees Bitcoin going to $500,000 in an interview earlier this year on Bloomberg Television.
Ricardo Salinas Pliego:
He’s the third-richest man in Mexico, a billionaire and owner of Banco Azteca. He’s also a serious cryptocurrency backer. Most banks don’t accept cryptocurrencies, but Pliego has positioned himself as part of a growing institutional wing trying to make digital currencies mainstream.
“Sure, I recommend the use of Bitcoin, and me and my bank are working to be the first bank in Mexico to accept Bitcoin, if you need more details or information follow me on my Twitter account,” he tweeted in late June.
The Skeptics
Elizabeth Warren:
Don’t mistake social media chatter for universal acceptance of cryptocurrencies. Take comments from Massachusetts Democratic Senator Elizabeth Warren last month, in which she called the market for cryptocurrencies a “Wild West” in a Bloomberg Television interview.
She added that digital currency is “not a good way to buy and sell things and not a good investment and an environmental disaster.”
She might be more aligned with Musk on that final point than many cryptocurrency diehards would like to admit.
Scott Minerd:
The chief investment officer of Guggenheim Investments has gone from bull to bear. Back in December, he told Bloomberg News that Bitcoin should be worth “about $400,000.”
But in May, Minerd tweeted that “crypto has proven to be Tulipmania,” referring to the 17th century speculative bubble involving prices for tulip bulbs.
And late last month he had another ominous prediction: “Look for more declines in crypto as Bitcoin breaks through support,” he tweeted. “Next likely support level is $20,000.”
—With assistance from Emily Cadman.
This article was provided by Bloomberg News.