Warren Buffet, CEO of Berkshire Hathaway was asked on an interview about his opinion on Bitcoin and he claimed that BTC is a delusion that basically attracts charlatans so we are going to read more about that interview in the latest bitcoin news below.
Buffet is a known Bitcoin critic who previously stated that investing in cryptocurrency is a gamble because no one knows that the number on cryptocurrency will be in the future. He also stated that BTC has no unique value at all because the blockchain doesn’t depend on Bitcoin:
“You can stare at it all day, and no little Bitcoins come out or anything like that. It’s a delusion, basically.”
However, he did point out that no one knows where the crypto market or the technology will be in the next few years followed by comments on being emphatic for people who invested in bitcoin and thought that the decision will change their lives immensely.
As previously reported in our website, Warren Buffet stated in 2018 at the annual meeting in his company that cryptocurrencies will have a bad ending inevitably saying that ‘’bitcoin is probably rat poison squared.’’
Berkshire Hathaway’s vice chairman Charlie Munger, also had some comments about Bitcoin mainly supporting the comments Buffet made, sharing his negative opinion about the crypto market:
“Someone else is trading turds and you decide I can’t be left out.”
Buffet’s company invested around $600 million in 2018 in two fintech companies that are mostly focused on the emerging markets. However, the self-proclaimed disciple of Charlie Munger and Buffet, Chamath Palihapitya noted that both of the skeptics are wrong about Bitcoin because the technology is not something Buffet is competent enough to comment on.
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