Cryptocurrencies

CNBC’s Joe Kernen: ‘I’m a Bitcoin bull now’

CNBC’s Joe Kernen says he is being treated “like a god” online following a June 19 interview on Squawk Box where he questioned whether Facebook’s new Libra coin is a cryptocurrency or not.

In the clip, Kernen said Libra “doesn’t excite me at all” and argued that blockchain networks used by major corporations don’t “add inherent value”.

He said: “This is just based on the dollar. I don’t understand it — is it called a cryptocurrency? Well it’s not.”

Kernen went on to make the stark revelation that “I’m a Bitcoin bull now. Have you seen what’s happening on Twitter?”

‘I’m like a god’

He boasted: “I’m like a god. Millennials are like holding me up… I love them, they’re so smart.”

“If you put in a dollar, and your stupid digital currency is worth a dollar, that’s not a cryptocurrency — all the blockchain transactions actually do create some inherent value.”

He concluded by saying: “Making a digital currency that’s based on a fiat currency makes no sense.”

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Nawaz Sulemanji

Nawaz has been hooked on crypto since buying his first Bitcoin’s in 2013. After studying maths in London, Nawaz initially spent the first eight years of his career working globally across corporate supply chain’s before transitioning into the decentralised finance industry as a margin-trader and consultant. He’s a fan of open-blockchains because “it enables self-sovereignty”.