Warren Buffett, an Investor/Billionaire, the planet’s third richest man, and CEO of Berkshire Hathaway gives his opinion on “cryptocurrencies” (digital currency) better known as Bitcoin. “What’s going on right now, will definitely come to a bad ending” spine-tingling words from Mr.Buffett as he interviews with CNBC. CEO Buffett said: The firm has no interest in jumping on the “cryptocurrency” bandwagon.During the CNBC interview, Mr. Buffett explains; “We don’t own any, we’re not short any,” “We’ll never have a position in them.”
Website-(MarketWatch) Opinion: “Heed Warren Buffett’s warning: Bitcoin is pure FOMO.” The fear of missing out. Simply the fear of missing out on a chance to get rich quick. “Bitcoin is a virtual currency created, owned and traded entirely online in anonymous and unregulated settings.”
“To nobody’s surprise, Billionaire Warren Buffett has shown entirely zero percent interest in bitcoin, the electronic currency that’s actually been reaching higher in its value. Despite the rising value of the digital currency- bitcoin, “Mr. Buffett is having none of it.” He simply refuses to give in to the concept.
“Earlier, in 2014, when bitcoins had less value Buffett said; “ You cannot put a value on bitcoins because it’s not a value-producing asset.” Just a few years ago bitcoins were considered worthless. “As of December 2017, everyone is buying crypto.” “Everyone is making a profit.” “Created in 2009 by an unknown person using the alias, Satoshi Nakamoto, Bitcoin is a new currency.” The purpose of Bitcoin is to have an alternative, decentralized payment method.
“Ari Paul, the co-founder and chief investment officer of BlackTower capital, estimated that the total number of Bitcoin holders today is over 45 million people.” “An estimated 7 million was invested in crypto.” Where we are at today with cryptocurrencies, is way different than where we were at a few years ago. “Cryptocurrency is the birth of a new asset class.”