Key Highlights
- Terrence Howard said Bitcoin is “going to die” and that he avoids cryptocurrencies because he believes they rely too much on the dollar.
- He said he turned down a $25 million Bitcoin investment, preferring physical assets like gold and silver.
- His comments sparked reactions online, with some mocking him and others defending Bitcoin’s stability and structure.
Oscar-nominated actor Terrence Howard, known for roles in movies like Hustle & Flow and Iron Man, drew attention in the crypto space after saying that “Bitcoin is going to die.” His comments came during his appearance on episode 753 of the PBD Podcast hosted by Patrick Bet-David.
During the episode, Howard explained that he avoids cryptocurrencies because he believes they rely too much on traditional money systems, like the U.S. dollar, which he says is losing value.
“Bitcoin is going to die, I don’t mess with it,” Howard said. He also claimed that Bitcoin could be wiped out “with the push of a button,” though he did not provide proof.
Howard added that he also stays away from other cryptocurrencies. He talked about how Bitcoin’s price has gone up and down a lot, from around $18,000 to highs near $40,000, $60,000, and $125,000. He said that prices often follow multi-year cycles but can change suddenly.
“Bitcoin is still based on fiat, and because the dollar is decreasing in its value, because of the uncertainty of war around. Nobody wants their money in something that can be wiped out with the push of a button somewhere. I’ve stayed clear of it because it has been dropping a great deal,” he said. Despite his worries, Howard admitted that less than one percent of his money is in Bitcoin.
Turning down $25 million investment
Howard also spoke about some of the crypto-related investment advice he received. He said a friend had previously asked him to put $25 million into a special account to trade Bitcoin, which could make about $75,000.
He said he turned it down because he did not feel safe putting so much money into something that is linked to the dollar. Instead, he said he prefers investing in physical things, like gold and silver, especially because the dollar is losing value.
Online reaction from the crypto space
Howard’s remark quickly received backlash from the industry as some made fun of him. One user with the tag name, RoyalyOnchain, said “a push of a button…. tell me you know nothing about bitcoin without telling me Plz someone educate this man.”
Meanwhile, Bob Burnett of Barefoot Mining joked, asking him to “identify the button that could wipe out Bitcoin holdings.”
But some seem to support his stance. One user said, “He’s not wrong. Bitcoin is nothing but code and hackers hack code all day. If it were so foolproof they wouldn’t need over 200 versions of it (major, minor, and patch releases). Resources based on purity and quantity don’t get hacked, only the platforms that sell them do.”
Even though Howard is skeptical about cryptocurrency, his acting career is very strong. At the time of writing, Bitcoin trades for $68,823, up 2.5% in the last 24 hours, with its market cap sitting at $1.3 trillion, according to CoinMarketCap.
Also Read: Strategy Adds 17,994 Bitcoin to Its Treasury with 11th Consecutive Weekly Purchase
