In an interview with CNBC, Warren Buffett said that cryptocurrencies have no value, and they do not produce anything. On 23rd January 2020, Justin and four others from the crypto industry dined with Warren Buffett in a private, not-for-profit country club in Nebraska.
“I don’t own any cryptocurrency, and I never will.”
Warren Buffett, when asked about whether he had changed his mind about cryptocurrencies, he replied negatively. He went on to say that bitcoin or any other cryptocurrencies don’t do anything and have zero value. The billionaire is a known crypto critic as he previously called bitcoin “a real bubble” and “rat poison squared.” However, he praised and thanked Justin Sun and his companions that he invited to have dinner with as they helped a charitable cause.
— CNBC (@CNBC) February 24, 2020
Warren Buffett believes bitcoin is only used to move money illegally.
89-year-old Buffett elaborated his opinion on the leading cryptocurrency, saying that bitcoin has been here for many years now but still has failed to prove its utility. He also said that bitcoin has only been used to move money illegally around the world alternative to carrying money in suitcases. Justin Sun later tweeted that the lunch with Mr. Buffett was very successful, and he learned a lot from him.
😂 @justinsuntron? he knows how to sell that bitcoin? Or we can consider that’s “burned”?
Nice effort, but you can only take a horse to water…
This is why I rarely try to convince anyone. Their choice.
Crypto doesn’t have to be used by everyone. My grandma never used USD. https://t.co/3iHeAp16H7
— CZ Binance 🔶🔶🔶 (@cz_binance) February 24, 2020