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On the cryptocurrencies, he went further. He stated several times that they're "not real." Furthermore, he said, they are "nothing but an unfounded fad (or perhaps even a pyramid scheme)."
Cryptocurrencies may indeed be in the biggest valuation bubble since the dot-com era.
At the same time, there is undeniable excitement about their potential today among the top tier of venture capital investors.
Former PayPal COO David Sacks, who was also an early investor in Airbnb, Facebook, Palantir, SpaceX and Uber, tweeted last week that cryptos are the best candidate we've had for the next big thing in Silicon Valley