Friday , August 19 2022

Warren Buffett called the bitcoin tool for gambling


The famous Bitcoin judge, CEO of Berkshire Hathaway, Warren Buffett, has not only changed his attitude to the first cryptocurrency, but also raised new phrases to describe his pessimism. So, in an interview with Fox Business, the billionaire from the name Bitcoin was a tool for gambling, which doesn't produce anything useful.

“Bitcoin doesn't produce anything. It's not talking to you, it's not doing anything. It's like some kind of shells, for me it's not an investment ", t Buffett said.

It is also convinced that Bitcoin has very limited use, which is also linked to fraudulent schemes.

“Look, here I tear a button, and we use it as a small ticket. I offer it for $ 1000 and I hope it will grow to $ 2000 at the end of the day. People will, of course, create them [такие токены] in huge amounts. This is a tool for gambling, a lot of fraud is associated with it, and people have lost a lot of money ", – Added 88-year-old billionaire.

At the same time, Buffett joined the ranks of those who believe that the technology of the blocks itself has great potential and does not necessarily require Bitcoin.

As an example, he referred to JPMorgan Corporation, who launched his JPM Gant earlier this year, to use it in international corporate payments, transfer of securities and to replace the dollars in the bank dome.

We add that this is not the first time Buffett has criticized Bitcoin. In particular, the billionaire earlier predicted the collapse of the cryptocurrency industry, and also called the cryptocurrency "a real bubble."

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