Bitcoin is "Enron in the making," says Saudi Prince Alaweed [CBS News]
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Source: CBS News
Bitcoin price may "implode," Saudi Prince Alaweed says Another week, another bitcoin bubble warning from another financial titan. Prince Alwaleed bin Talal, the Saudi billionaire investor, today followed recent bitcoin critics JPMorgan ( JPM ) CEO Jamie Dimon and Blackrock ( BLK ) CEO Larry Fink and told CNBC in an interview the cryptocurrency will "implode one day." "It just doesn't make sense. This thing is not regulated, it's not under control, it's not under the supervision" of any central bank, said Alwaleed, who's No. 50 on the Bloomberg Billionaires Index. "I think it's just going to implode one day. I think this is Enron in the making." Dimon recently called bitcoin a fraud , and Fink said it's "an index of money laundering" recently. Enron, of course, was the energy company that imploded amid an accounting scandal in the early 2000s . Alwaleed's remarks come after bitcoin's value reached $100 billion last week, more than the market value of either Goldman Sachs ( GS ) or Mo
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