Warren Buffett, CEO and President of Berkshire Hathaway ratified in a recent interview his distrust in the cryptocurrencies, He assured that he stays away from them.
By MiamiDiario Newsroom
Berkshire Hathaway Chairman and CEO Warren Buffett on Monday reaffirmed his aversion to cryptocurrencies. they have no value and do not produce anything. In terms of value: zero," he told CNBC's Becky Quick in an interview for "Squawk Box."
"I don't own any cryptocurrency and never will," added Buffett, who was interviewed two days after he released his annual letter to shareholders.
Buffett has long criticized the world's largest digital currency. Before Berkshire Hathaway's 2018 annual shareholder meeting, he called the Bitcoin What "rat poison squared«.
According to the Warren Buffett Archive kept by CNBC, some of the descriptors he has used for bitcoin include a mirage", "not a coin" and "tulips".
Berkshire Vice President Charlie Munger has called it "shit," saying the cryptocurrency trading is “just insanity”.
Last year, in an attempt to change Buffett's mind, Justin Sun, founder of cryptocurrency TRON and CEO of file sharing company BitTorrent, bid $4,57 million at a charity auction to have a meal with the bitcoin skeptic.
"When Justin and four friends came over, they behaved perfectly and we had a very friendly 3½ hour dinner and it was all a very friendly exchange of ideas," Buffett said. At the end of it, according to his words neither he nor Sun changed their stance about bitcoin.
Source: CNBC
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