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What Does Warren Buffett Think About Bitcoin?

What Does Warren Buffett Think About Bitcoin

Warren Buffett is an American business magnate, investor, and philanthropist who serves as the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of US$84 billion as of June 3, 2018, making him the third wealthiest person in the world.

Warren Buffett is one of the most influential and successful businessmen of his generation.

The 87-year-old tycoon founded the business empire Berkshire Hathaway.

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As CEO and founder of this company and one of the richest men in the world, his investments have been wide-ranging and vast.

Buffett: Bitcoin is an asset that creates nothing from CNBC.

In May 2018, he sent Apple shares to an all-time high after he bought 75 million shares in the first quarter of the year.

Since Bitcoin became a sensation at the end of 2017 and the price of the currency went through the roof, Mr Buffett has steadfastly remained sceptical.

Back in May, Buffett revealed to CNBS that bitcoin was ‘probably rat poison squared.’

The main issue that Buffett has with Bitcoin, is that it has no intrinsic value.

What Does Warren Buffett Think About Bitcoin

‘If you buy something like bitcoin or some cryptocurrency, you don’t have anything that is producing anything,’ Buffett said in an interview with Yahoo Finance.

‘You’re just hoping the next guy pays more. And you only feel you’ll find the next guy to pay more if he thinks he’s going to find someone that’s going to pay more.

‘You aren’t investing when you do that, you’re speculating.’

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Warren Buffett thinks cryptocurrencies will end badly from CNBC.