Buffett discredits Bitcoin once again, deems no good ‘delusion’

Despite the growing number of Bitcoin and cryptocurrency supporters across the globe one of the pioneering Wall Street investors and Chief Executive Officer of Berkshire Hathaway Warren Buffett is still not convinced that the currency can be of any importance in the real world.

Buffett is known for his simplistic lifestyle in a juxtaposition to his total net worth of over seventy-two billion dollars ($72b). He has been one of the best investors of his time, and he is known to be a business icon who started at the tender age of 11. He started his first business when he was just 16, and by the age of 32, Buffett was already a millionaire.

In his latest interview with the media outlet, CNBC, Buffett reaffirmed his belief that the very creation of Bitcoin was pointless. He is of the view that a currency that doesn’t represent any real value in the real world is pointless, to begin with, in the first place. Since it cannot give you any “real” value, it is simply a delusion.

Buffet furthers his argument that blockchain itself doesn’t require Bitcoin to grow and since the technology is more important to the world than the currency, there is no need to keep the two tied together.

Although there have been positive developments at the wall street Buffet is convinced that an investment that relies more on the trends and less on the actual values and facts is nothing more than gambling.

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Aroosa Nadeem

Written by Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.