Cryptocurrency has captured the imagination of millions, with Bitcoin soaring past $100,000 in late 2024. Yet, while the financial world celebrates, Joe Rogan remains skeptical about the legitimacy of digital currencies and their role in the economy.
A Chaotic Market and Unanswered Questions
On a recent episode of the Joe Rogan Experience, Rogan discussed the chaotic world of cryptocurrency with comedians Yannis Pappas and Chris Distefano. The conversation turned toward the questionable ethics behind crypto schemes like “pumping and dumping.”
“Well, it’s like, what are the rules?” Rogan asked. “What are the rules in terms of, are you allowed to [pump and dump]? Is that unethical but legal? Are you allowed to have a meme coin and then it gets to like $100 million, you have a bunch of it and you just sell it all and you make $50 million? Are you allowed to do that?”
While watching a video of a teenager profiting from such a scheme, the trio highlighted the lack of oversight in the crypto space. Rogan admitted his reluctance to engage with such ventures.
“I’ve never promoted any of those. I’ve had offers to promote things like that, I’m not interested,” he said.
Dana White says he just got back from gambling.
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— Jed I. Goodman © (@jedigoodman) August 26, 2023
Rogan also shared his struggles with understanding concepts like NFTs. “I don’t even understand it. If I don’t even understand it, like you’re selling what? You’re selling NFTs, what does that mean? ‘It’s a non-fungible token.’ We’re done. I don’t know what you’re saying…”
The podcaster’s concerns go beyond just confusion. He pointed out reports of widespread corruption within the cryptocurrency market.
“There are wild reports about the amount of corruption that this money is experiencing,” Rogan remarked. “This money has probably gone through more people’s noses and come out of more people’s d***s. Where is this money going? It’s so much, there’s no way it’s 100% efficient.”
These sharp observations reflect Rogan’s broader skepticism of cryptocurrency, which has grown even as traditional monetary systems face challenges. Despite Bitcoin’s remarkable rise and Donald Trump’s push to make America a “crypto capital,” Rogan questioned whether the digital currency market could ever achieve legitimacy.
As the debate about crypto’s future rages on, Rogan’s unfiltered take offers a critical perspective. For him, the lack of clear rules and transparency surrounding cryptocurrency remains a major concern, even as others embrace the digital frontier.
