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Warren Buffett Insists He Doesn't Own Bitcoin (BTC), Says Crypto Has Zero Value After Dinner with Justin Sun

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Mon, 02/24/2020 - 14:09
Alex Dovbnya
Berkshire Hathaway CEO Warren Buffett remains a staunch Bitcoin critic after his dinner with Tron CEO Justin Sun
Cover image via en.wikipedia.org

Warren Buffett didn't warm up to Bitcoin and cryptocurrencies after his dinner with Tron CEO Justin Sun that took place in January

In his latest interview with long-term CNBC host Becky Quick, "the Oracle of Omaha" continues to insist that cryptocurrencies have zero value. 

"Cryptocurrencies basically have no value, they do not produce anything. It doesn't reproduce, it doesn't deliver."

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Buffett says that crypto is only valuable as long as someone else comes along, implying that it is reminiscent of a pyramid scheme

One of the most successful investors of all time claims that he doesn't own any Bitcoin or any other cryptocurrency. The same applies to the companies that are under the wing of his conglomerate, Berkshire Hathaway   

Notably, this comes just one month after Sun gave him a Samsung Galaxy Fold that comes with one BTC. Still, he praised the young crypto entrepreneur for giving money to charity.  

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However, he made a tongue-in-cheek remark that he might have his own coin called "Warren Currency" that would be available after he dies. 

"I may start a Warren currency".

Buffett unapologetically claims that this currency is only used by criminals.  

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.

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