Warren Buffett Claims That Blockchain Is Important, Calls Bitcoin ‘Ingenious’

Mon, 02/25/2019 - 16:57
Alex Dovbnya
Is the Oracle of Omaha warming up to Bitcoin? It doesn’t seem so. However, his stance on Blockchain might surprise you
Cover image via U.Today

During a recent interview with CNBC’s Becky Quick, Warren Buffett, the legendary American investor whose net worth currency sits at $82.9 bln, once again weighed in on Bitcoin. Surprisingly enough, Buffett called Bitcoin ‘ingenious,’ but the Oracle of Omaha is still far from becoming a crypto proponent.

Still a Bitcoin hater  

When Buffett was asked about his current stance on Bitcoin, he had some meager words of praise, claiming that Bitcoin is ‘ingenious.’ Make no mistake — he still hates Bitcoin. Buffett lashed out with criticism at the number one cryptocurrency, claiming that it ‘has no unique value,’ and ‘it attracts charlatans.’

Should Warren Buffett Invest in Bitcoin (BTC)? Anthony Pompliano Definitely Thinks So

Blockchain over Bitcoin

However, Blockchain, the technology that underpins Bitcoin, is important, according to Buffett. He further mentioned that ‘Blockchain doesn’t depend on Bitcoin.’ Hence, the third richest person in the world pushes the ‘Blockchain over Bitcoin’ narrative that is currently prevalent in the crypto space.

Notably, Buffett also mentioned JPMorgan’s JPM Coin, which is pegged to the US dollar.

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy