Billionaire Buffett still denying Bitcoin
Bitcoin and the crypto industry in general continues to grow. From futures, to ETF’s to KFC’s Bitcoin Bucket, there seems to be no stopping virtual currencies. However, crypto critics are still unconvinced, even after the combined market cap for the industry reached a whopping $800 billion just last week.
One of the most well-known naysayers, Warren Buffett, is on a rapidly dwindling list of experts who are still denying the charm and potential viability of the world’s most famous crypto, Bitcoin.
During an interview with CNBC on the 10th of January, Buffett made his feeling clear on the matter:
He went on to add:
Buffett’s business partner, Charlie Munger, shares the same view. During the same interview, when questioned if he though Bitcoin was a bubble, he stated:
He’s also not excited about the increasing interest in and adoption of the industry:
Buffett is also not interested in Bitcoin futures, stating:
However, even though Buffett is adamant that Bitcoin will fail, he has curiously also admitted that he doesn’t know anything about the industry:
Previous crypto pessimists have recently had to swallow their pride and admit that they were wrong. September last year saw JPMorgan Chase CEO, Jamie Dimon, infamously refer to Bitcoin as “a fraud”. He now states that “the Blockchain is real”.
The higher powers at Goldman Sachs previously stated that:
However, the firm now believes that cryptocurrencies are a “viable alternative” in countries experiencing economic strife.