Billionaire Investor Warren Buffett Says Leading Cryptocurrency Bitcoin in ‘Bubble’ TerritorysteemCreated with Sketch.

in #bitcoin5 years ago

Billionaire investor Warren Buffett has claimed that the market for the leading virtual currency Bitcoin is already in bubble territory. He also issued a criticism of the proposals for applying a value to the cryptocurrency.

Based on a report by MarketWatch, Buffett presented his views on Bitcoin and the cryptocurrency market during an annual question-and-answer session in Omaha, Nebraska in early October 2017. During his remarks, Buffett claimed that Bitcoin is a “real bubble.”

Bitcoin sustained its phenomenal performance after fluctuating at about $4,300 in early October. Bitcoin price has jumped to over $6,100 on Oct. 20.

Meanwhile, the negative view of Buffett on Bitcoin is not surprising as the well-known investor has already expressed such comments in the past. In 2014, the billionaire advised that investors should keep away from Bitcoin because the cryptocurrency is “basically a mirage.”

Coin Marketplace

STEEM 0.21
TRX 0.07
JST 0.029
BTC 20049.24
ETH 1131.85
USDT 1.00
SBD 2.92