Tags: buffett | bitcoin | value | delusion

Buffett: Bitcoin a 'Delusion,' 'Attracts Charlatans'

(Jan Lievens/Dreamstime)

Monday, 25 February 2019 01:52 PM

Berkshire Hathaway Inc. Chairman Warren Buffett referred to bitcoin as a “delusion” in a Monday morning interview.

"It is a delusion, basically," Buffett told CNBC.  "Bitcoin has no unique value at all," he said.

"It attracts charlatans," Buffett said. "If you do something phony by going out and selling yo-yos or something, there's no money in it — but when you get into Wall Street there's huge money."

The Berkshire Hathaway CEO has been a long-time critic of cryptocurrencies. He called bitcoin "probably rat poison squared," ahead of the 2018 Berkshire Hathaway annual shareholder meeting, Reuters reported at the time.

Bitcoin’s February rally has hit the skids in an all too familiar place. The biggest cryptocurrency dropped as much as 5.4 percent on Monday after closing just shy of its $4,000 resistance level on Friday, Bloomberg reported.

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Bitcoin's February rally has hit the skids in an all too familiar place. The biggest cryptocurrency dropped as much as 5.4 percent on Monday after closing just shy of its $4,000 resistance level on Friday. It probably didn't help that Berkshire Hathaway Inc. Chairman Warren...
buffett, bitcoin, value, delusion
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2019-52-25
Monday, 25 February 2019 01:52 PM
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