At this month’s Warren Buffett meeting in which he invites business students to Omaha, Nebraska, to listen to him and have a two-and-a-half-hour question-and-answer session, questions about cryptocurrencies came to light: his long and genuine responses touched a variety of topics.
Unsurprisingly, Buffett believes that the currencies offerings will end badly.
“People get excited about the big price movements, and Wall Street fits in,” he said.
Bitcoin, the flagship of all digital currencies, currently trades at around $ 5,700, with a market cap now exceeding $ 90 billion. Still, Buffett remains skeptical, saying,
“You can not value bitcoin because it is not an asset that produces value.”
He added that it is not known how much the price of Bitcoin will go and described it as a “real bubble in that kind of thing”.
Buffett’s negative opinion about Bitcoin is not surprising since the well-known investor has already expressed such comments in the past. In 2014, the billionaire advised investors to stay away from Bitcoin because the criptomoneda is “basically a mirage”.
The difficult thing is not to learn, the difficult thing is to know how to teach.
Editor and coordinator of the free book “La era de las BLOCK punto COM”
CEO of bitcoiner.today