--- title: Why Vanguard Legend Jack Bogle Says You Should 'Avoid Bitcoin Like the Plague' description: It has been a remarkable year for Bitcoin as it soared more than 900% in the past 12 months. But investing legend Jack Bogle isn't buying it authors: - name: Jennifer Calfas url: https://money.com/author/jennifer-calfas/ at_money_since: 2017 articles: 339 covers: - Investing - Banking - Business - Career Advice - Credit Cards - Economy and Politics - Education - Housing - Identity Theft - Insurance - Lifestyle - Loans - Personal Finance - Pets - Retirement - Shopping - Taxes - Technology social: - https://x.com/jencalfas former_staff: true published: '2017-12-03T23:03:25.000Z' modified: '2024-04-17T07:22:39.000Z' section: Investing tags: - Bitcoin - onetime word_count: 243 canonical: https://money.com/jack-bogle-avoid-bitcoin-plague/ type: Article source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Key Speakers At The John C. Bogle Legacy Forum](https://img.money.com/2017/12/jack-bogle.jpg) *John C. "Jack" Bogle, founder of the mutual fund company Vanguard Group Inc., speaks during a panel discussion at the John C. Bogle Legacy Forum, named in his honor, in New York, U.S., on Tuesday, Jan. 31, 2012.* It has been a remarkable year for [Bitcoin;](https://money.com/bitcoin-usd-price-worth-invest/) its value has soared more than 900% in the past 12 months. But investing legend and Vanguard Group Inc. founder Jack Bogle isn't buying it. "Avoid Bitcoin like the plague," Bogle said at a Council on Foreign Relations event last week, according to [*Bloomberg*](https://www.bloomberg.com/news/articles/2017-11-28/vanguard-founder-jack-bogle-says-avoid-bitcoin-like-the-plague?cmpid=socialflow-facebook-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=facebook&utm_medium=social). "Did I make myself clear?" The Vanguard founder, who has spawned legions of followers for his simple ethos of investing in low-cost index funds, criticized the cryptocurrency for having "no underlying rate of return." "You know bonds have an interest coupon, stocks have earnings and dividends, gold has nothing," Bogle said. "There is nothing to support Bitcoin except the hope that you will sell it to someone for more than you paid for it." Bogle joins a growing list of giants in the business world expressing skepticism about the cryptocurrency, including former head of the Federal Reserve [Ben Bernake,](http://fortune.com/2017/10/16/bitcoin-bernanke/) J.P. Morgan CEO [Jaime Dimon](http://fortune.com/2017/09/22/jamie-dimon-bitcoin-price/), and Nobel Prize-winning economist [Joseph Stiglitz](http://fortune.com/2017/11/30/economist-joseph-stiglitz-bitcoin-should-be-outlawed/). But despite having a number of critics, a number of high-profile individuals [are users of the digital currency](https://money.com/richest-people-with-bitcoin/), including billionaire venture capitalist Tim Draper and the Winklevoss twins. On Sunday, a single Bitcoin's value was around $11,800. Last week, former Fortress hedge fund manager Michael Novogratz said Bitcoin could "easily" hit $40,000 by the end of 2018. Still, Bogle is skeptical. "Bitcoin may well go to $20,000 but that won't prove I'm wrong," Bogle said. "When it gets back to $100, we'll talk." ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/jack-bogle-avoid-bitcoin-plague/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Investing", "item": "https://money.com/investing/" }, { "@type": "ListItem", "position": 3, "name": "Bitcoin", "item": "https://money.com/bitcoin/" }, { "@type": "ListItem", "position": 4, "name": "Why Vanguard Legend Jack Bogle Says You Should 'Avoid Bitcoin Like the Plague'" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/jack-bogle-avoid-bitcoin-plague/#webpage", "url": "https://money.com/jack-bogle-avoid-bitcoin-plague/", "name": "Why Vanguard Legend Jack Bogle Says You Should 'Avoid Bitcoin Like the Plague'", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2017-12-03T23:03:25.000Z", "mainEntity": { "@id": "https://money.com/jack-bogle-avoid-bitcoin-plague/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/jack-bogle-avoid-bitcoin-plague/#breadcrumb" }, "dateModified": "2024-04-17T07:22:39.000Z" }, { "@type": "Article", "headline": "Why Vanguard Legend Jack Bogle Says You Should 'Avoid Bitcoin Like the Plague'", "articleSection": "Investing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2017/12/jack-bogle.jpg", "width": 3000, "height": 2003, "caption": "Key Speakers At The John C. Bogle Legacy Forum" } ], "author": [ { "@type": "Person", "name": "Jennifer Calfas", "url": "https://money.com/author/jennifer-calfas/", "@id": "https://money.com/author/jennifer-calfas/#author", "sameAs": [ "https://x.com/jencalfas" ] } ], "publisher": "https://money.com/#organization", "datePublished": "2017-12-03T23:03:25.000Z", "description": "It has been a remarkable year for Bitcoin as it soared more than 900% in the past 12 months. But investing legend Jack Bogle isn't buying it", "abstract": "It has been a remarkable year for Bitcoin as it soared more than 900% in the past 12 months. But investing legend Jack Bogle isn't buying it", "@id": "https://money.com/jack-bogle-avoid-bitcoin-plague/", "inLanguage": "en-US", "dateModified": "2024-04-17T07:22:39.000Z", "wordCount": 243, "keywords": [ "Bitcoin", "onetime" ], "about": [ { "@type": "Thing", "name": "Investment", "sameAs": [ "https://en.wikipedia.org/wiki/Investment" ] }, { "@type": "Thing", "name": "Bitcoin", "sameAs": [ "https://en.wikipedia.org/wiki/Bitcoin" ] } ] } ] } ```