Billionaire investor and Berkshire Hathaway's Chairman and CEO Warren Buffett reiterated his negative stance towards cryptocurrencies at the annual meeting of his company Saturday, May 5.
Buffet repeated his idea that cryptocurrencies will come to a "Bad ending," and claimed that Bitcoin is "Probably rat poison squared," according to CNBC. In response to a question on Buffet's view of cryptocurrencies raised by an attendee from Ukraine, the "Oracle Of Omaha" has made yet another anti-crypto statement.
According to Buffet, Bitcoin is not a "Productive" asset, unlike land or corporate shares.
As a result, investors' demand for it is the only price-determining factor, making digital currency a handy tool for "Charlatans," Buffet said.
Earlier in February, Munger called Bitcoin "Totally asinine" and argued that people get involved in crypto "Because everybody wants easy money."
87-year-old Buffet is known for his scepticism towards cryptocurrencies.
The billionaire investor has made repeated statements claiming that Bitcoin is neither a currency, nor a way of investing.
In October 2017, Buffet claimed that Bitcoin had entered the "Bubble territory," and is "Going to implode."
On the other hand, are much more enthusiastic about Bitcoin.
The banking giant Goldman Sachs has launched a Bitcoin trading operation earlier this week, commenting that Bitcoin "Is not a fraud."
Warren Buffett, Charlie Munger Slam Bitcoin Again, Resort To Elementary School Insults
gepubliceerd op May 5, 2018
by Cointele | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.