Bob Geldof adds 'Bitcoin' to the list of things he doesn't like

He doesn't like Mondays and now the 80s pop icon doesn't like cryptocurrencies either. Not exactly a glass-half-full kind of a guy, is he?

by Emma Haslett
Last Updated: 29 Jan 2014

Sir Bob Geldof may be a surly Irishman with a penchant for dodgy names, but he’s also a surprisingly savvy businessman: with an estimated net worth of £32m according to the Sunday Times, he even has his own private equity fund (at its launch he charmed investors with the line: ‘My name is Bob. I’m a PE whore and I’m looking for £25m’).

So when he rallies against a business trend, it’s worth sitting up and listening. Admittedly, Geldof’s criticism of Bitcoin, the electronic currency currently getting everyone from governments down excited, came as he was supporting an essay by bearded lothario Russell Brand calling for the ‘overthrow of the current political system’.

But in an interview with the Huffington Post, Geldof said Bitcoin wasn't the right way to rebuild society after the revolution.

‘You can’t just have a free for all,’ he said. ‘You couldn’t have a system that deals with value through cash or money or any other value system. It won’t work. Bitcoin is a type of that, it simply won’t work. Nice, but it won’t work.’

MT thinks what Sir Bob is trying to explain here is that Bitcoin, er, ‘won’t work’. Better keep looking….

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