Warren Buffett says Bitcoin is in a Bubble

Billionaire investor Warren Buffett is on the team of people who consider bitcoin and the cryptocurrency market to be in a bubble.

According to MarketWatch, Buffett raised the issue during an annual Q&A held in Omaha earlier this month. While Buffett focused on a variety of topics, he commented on the cryptocurrency market during his remarks.

“People get excited about big price moves, and Wall Street fits,” he said. Describing bitcoin as a “bubble”, according to the publication, Buffett also criticized the idea of ​​applying a value to bitcoin.

He added:

You can not value bitcoin because it is not a value-producing feature.

Regardless of the denial of crypto-coins by some people, bitcoin is hitting price records, having reached values ​​over $ 6,000 that month.

It’s no surprise that Warren Buffet has been talking about bitcoin, since in 2014 he said bitcoin was just a mirage. Since then, bitcoin has risen almost 10 times its value.

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About the Author: BJ Hetherington

BJ is the lead editor of Crypto Post Gazette. Fluent in French and proficient in Spanish and Arabic, he focuses on mobile trends and tech innovations. BJ is a graduate of York University In Toronto. BJ was an early adopter of cryptocurrencies having bought 100 bitcoins in 2010. To contact BJ, just click here

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