Warren Buffett warned about the dangers of bitcoin

Уоррен Баффет предупредил об опасности биткоина

Buffett advises not to mess with bitcoin

The billionaire believes the cryptocurrency bubble.

Bitcoin is a real bubble. This was stated by one of the most influential investors on the planet Warren Buffett during the meeting with students at the American Omaha, according to Marketwatch.

During the conversation, we were talking about bitcoin. And the impressive growth rates and capitalization of the first cryptocurrency billionaire is not impressive.

“It is impossible to assess bitcoin, because it is not the asset that produces value,” Buffett said.

He also added that to predict how high it can rise the price of bitcoin is impossible, because “it’s kind of a real bubble.”

Warren Buffett was also skeptical towards the so-called initial coin offerings (ICO).

“People are embracing the hype from large price movements and wall street is adjusting to this,” said he, adding that all this will end badly.

We will remind, on October 20, the price of bitcoin has crossed the psychological mark of $6000, having recorded its new historical maximum

Source

Leave a Reply

Your email address will not be published. Required fields are marked *