Last week on CNBC's Squawk Box, host Joe Kernen surprised viewers with a bullish rebuttal to the announcement of Facebook's cryptocurrency, Libra. Kernen said, "This is just based on the dollar. I don't understand it. Is it called a cryptocurrency? Well, it's not."

Kernen followed by calling himself a bitcoin "believer" and "bull." His proclamation got the attention of the crypto world, and soon Joe had a whole new fan base, Crypto Twitter.

Kernen's change of heart came as a surprise to many. Just a few months ago in a conversation with Morgan Creek Digital's Anthony Pompliano, he compared Bitcoin to "tulip mania," "What differentiates it? From that, it's just acting like a crazy, bubble, tulip…"

The Stages of Bitcoin Acceptance:

From skeptic to believer, Kernen has glided through the stages of Bitcoin acceptance in record time.

From Skeptic to Believer

Kernen isn't alone. In the past few months, more and more former skeptics are changing their tune. Here are just a few...

Niall Ferguson:

In 2014, the author of 'The Ascent of Money,' said his son's investment in Bitcoin was the "worst investment decision of his [son's] life." He recently admitted that he was "very wrong" about bitcoin and digital currencies, adding he was "wrong to think there was no use for a form of currency based on blockchain technology."
Voyager's Rating: Believer

Agustin Carstens:

The General Manager of the Bank of International Settlements, Agustin Carstens' has called crypto a "combination of a bubble, a Ponzi scheme and an environmental disaster." He made a 360 this week when he said, "many central banks are working on it (digital currencies); we are working on it, supporting them. And it might be that it is sooner than we think that there is a market and we need to be able to provide central bank digital currencies."

Tyler Cowen:

Tyler Cowen, an economist and columnist for Bloomberg, has long been skeptical of crypto and its viability. In 2013, he wrote an article titled, "How and Why Bitcoin Will Plummet in Price." This month, he has seemingly given into the crypto bug publishing an article, "Bitcoin is (Probably) Here to Stay," where he highlights the value of Bitcoin.

Jamie Dimon:

This Bitcoin hater doesn't need an introduction. Dimon became well-known for his disdain for crypto, calling Bitcoin a "fraud," only to later admit he regretted the comment. JP Morgan announced their own stable coin, JPM Coin, which is currently being trialed with their corporate clients.

Why Now?

Everyone's "crypto aha moment" is different, but Bitcoin has proved its resilience. Bitcoin didn't go to zero like many non-believers said it would. It survived another bear market and has seen exponential growth this year. If you didn't believe in crypto during the last bull run, now may be an excellent time to jump on the bandwagon!


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