Warren Buffett on Bitcoin: The Real Bubble
“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.
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.
“In fact, this mirage “, – he said.
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.