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

  • Alex Dovbnya
    📰 News

    Is the Oracle of Omaha warming up to Bitcoin? It doesn’t seem so. However, his stance on Blockchain might surprise you


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

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.’

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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.

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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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