Prince Alwaleed Bin Talal Compares Bitcoin To Enron: 'It Just Doesn't Make Any Sense'

What do bitcoin and Enron have in common? According to Saudi Arabia's Prince bin Talal Alwaleed, one has already imploded and the other, bitcoin, will one day follow suit and implode itself.

"I just don't believe in this bitcoin thing," bin Talal told CNBC's Andrew Ross Sorkin in an interview Monday morning. "It just doesn't make sense."

Bitcoin is an unregulated trading instrument that is not under any authority's control and there is zero supervision, he also said in the interview. Naturally, he agrees with JPMorgan Chase & Co. JPM's CEO Jamie Dimon who famously said earlier this year that bitcoin is a "fraud" that will similarly blow up in value.

Alwaleed and Dimon's view on the digital currency contrasts what could be viewed by some as JPMorgan's unofficial policy on the currency. The bank's chief financial officer Marianne Lake said during the company's third-quarter conference call that the firm is "open-minded" toward digital currencies but only those which are "properly controlled and regulated."

Naturally, bitcoin does not fall in this category and other executives and Wall Street banks are taking a similar approach.

Alwaleed is the latest billionaire to offer his opinion on bitcoin at a time when the MA debate between bitcoin bulls and bears have never been more hotly contested with the currency trading north of $6,000.

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