The Bitcoin is not only the best digital currency on the market today, but it is also an investment incredibly volatile. The opinions are very shared on the Bitcoin. Some see it as the future of money, while others believe that it is only the fashion of the time. We find Warren Buffet in the second category. In his recent remarks, he has clearly expressed its opinion on the Bitcoin.
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The value of this digital currency has increased substantially this year, with an increase of almost 700 %. Currently, the Bitcoin is trading at around $ 8,000. Many investors have a growing interest in this solution.
Buffett thinks that the Bitcoin is not an asset of value
Several times a year, Warren Buffett has been organizing events in his hometown of Omaha, Nebrasaka. On this occasion, commerce students pose questions on various topics related to finance and investment. He has received the Bitcoin.
He said that it is not possible to assess this digital currency, because it is not an asset of value. Buffett has indicated that there was a real bubble. He confirmed his words when a reporter asked in 2014 what he thought about this technology. At the time, he had answered that it was wise to stay away from this market.
A market that is more competitive
The position of Warren Buffett is not so surprising when one knows how he was able to become the richest man on the planet. For the famous investor, the concept of intrinsic value is fundamental. Buffett has explained that the Bitcoin is not an active producer of value.
In spite of its popularity at this time, this digital currency will have to be confronted with the competition of the market, he added. Currently, we found nearly 2,000 other crypto-currencies.
Source : Wbir