Bitcoin continues to be the talk of the world. We hear and read about digital currencies on television, newspapers, and, of course, on social media. During the last few weeks, from the Prince of Saudi Arabia to the co-founder of Apple, through the inventor of PayPal, talked about the phenomenon of cryptocurrencies and more specifically about the number one cryptocurrency: Bitcoin.
This time it was one of the richest men in the history of mankind’s turn. The skilled North American investor and billionaire, Warren Buffett, stated that the market of “Bitcoin is in bubble territory”.
“It is a real bubble,” the magnate said. “People get excited from big price movements, and Wall Street accommodates”. “You cannot value Bitcoin because it is not an asset that produces value.”
It is not the first time that Buffett speaks in this way about the phenomenon of cryptocurrencies and Bitcoin. Already in 2014, the famous millionaire had suggested to investors to stay away from Bitcoin, arguing that this was “basically, a mirage.”
Warren Edward Buffett was born in 1930. He is considered one of the greatest investors in the world. He is also majority shareholder and CEO of Berkshire Hathaway. This year, Buffett ranks second on the list of the richest men on the planet, immediately after Bill Gates and ahead of Amazon founder Jeff Bezos. Buffett’s fortune is worth about 76,000 million dollars.Trade now
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
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