Joe Rogan criticizes bitcoin and NFTs

American comedian and commentator Joe Rogan compared non-fungible tokens (NFTs) to counterfeit money and suggested that investing in bitcoin could be risky as well.

In a recent episode of The Joe Rogan Experience, Joe Rogan told a story about a friend of his who lost a lot of money investing in cryptocurrencies. In his opinion, it is the prospect of «getting rich quick» that attracts people to cryptocurrencies, so they invest real money in digital assets that they do not fully understand.

Despite the hype around bitcoin, this crypto asset is unlikely to ever become a full-fledged replacement for regular money, Rogan said. He also called the concept of digital property rights strange, especially the expensive NFTs from the Bored Ape Yacht Club (BAYC) collection of «bored monkeys.» According to the comedian, it is difficult for him to understand how people can pay huge sums of money for digital items that are no more real than a screenshot.

When explained that NFTs are a form of digital ownership similar to the ownership of a physical object, such as a car, Rogan replied that NFTs do not have the same physical value as real assets. Therefore, he questioned the value of these digital items, especially after the fall of many NFTs, including BAYC.

At the same time, Rogan acknowledged that bitcoin may be more valuable than NFTs. The comedian compared the first cryptocurrency to the early Internet, which initially also faced resistance from the authorities and people’s distrust, and now it is used by almost everyone. Bitcoin is starting to gain recognition, and yet, investing in it can be risky, Rogan said.

He also expressed concerns about central bank digital currencies (CBDCs), which, according to Rogan, could replace traditional money so that governments have full control over finances.