Warren Buffett on Bitcoin: A Real Bubble Billionaire and Investor …

Warren Buffett on Bitcoin: The Real Bubble

Billionaire and investor Warren Buffett, earlier already spoke about cryptocurrency in a negative way, I decided return to this thread to remind all, that bitcoin is a bubble.

The corresponding statement was made in time annual Q&A session in Omaha. During the conversation, Buffett touched on various themes, in Tom including the topic of cryptocurrencies.

Warren Buffett on Bitcoin: A Real Bubble Billionaire and Investor ...

“People are fascinated by large price swings, and Wall Street adjusts“, – quotes him the words MarketWatch. Having named bitcoin bubble, Buffett also noted, that the idea of ​​attributing value to cryptocurrency is fundamentally wrong.

“You do not can you appreciate bitcoin because is he not is an generating value asset“, – added is he.

Note that Buffett’s comments sound against the backdrop of a very distinguished month for cryptocurrencies. In early October, Bitcoin bargained at $ 4300, and less than a week ago him course moved to new high above $ 6100.

Buffett is a longtime critic of Bitcoin. Yet in 2014 year he recommended investors stay away from cryptocurrency.

“In fact, this mirage “, – he said.

Warren Buffett on Bitcoin: A Real Bubble Billionaire and Investor ...

Buffett is not the only representative of the traditional finance world who expects the cryptocurrency to collapse soon. At the beginning of the week, the Saudi prince and billionaire Al-Walid ibn Talal stated, that bitcoin will certainly “collapse”.

Although this points the view of many opponents. For example, Stern School Business finance professor Aswat Damodaran wrote the day before yesterday in his blog that Bitcoin is a real currency, not deception, according to some.