April 25, 2024

Warren Buffett still considers Bitcoin worthless

Warren Buffett still considers Bitcoin worthless

In an interview with CNBC, billionaire financier Warren Buffett reiterated his long-standing position thatcryptocurrency has no intrinsic value. Buffett insisted that Bitcoin does not serve any real purpose, so it will never get wide distribution.

The focus of the discussion was on Buffett’s recent lunch withJustin Sun. Buffett noted that Sun and his guests behaved very well and respectfully. However, the investor said that the founder of Tron could not change his mind about digital assets and cryptocurrencies. The mention that San gave Buffett a Samsung phone with one BTC made Buffett laugh, and he denied this information.

Billionaire's view on cryptocurrencies remainsunchanged and unlikely to change. His position is probably related to the fact that digital assets do not fall into the sphere of traditional finance. In other words, they are too risky and too volatile to be considered worthy investments.

According to Buffett, despite the fact that Bitcoin has existed for more than ten years, he could not make any real contribution to the global financial system.

“Cryptocurrencies are mostly irrelevant. You can do nothing with them, except to sell them to someone else who is willing to pay more for them. They produce nothing and have no value. ”