Billionaire investor Warren Buffett is on the team of people who consider bitcoin and the cryptocurrency market to be in a bubble.
According to MarketWatch, Buffett raised the issue during an annual Q&A held in Omaha earlier this month. While Buffett focused on a variety of topics, he commented on the cryptocurrency market during his remarks.
“People get excited about big price moves, and Wall Street fits,” he said. Describing bitcoin as a “bubble”, according to the publication, Buffett also criticized the idea of applying a value to bitcoin.
You can not value bitcoin because it is not a value-producing feature.
Regardless of the denial of crypto-coins by some people, bitcoin is hitting price records, having reached values over $ 6,000 that month.
It’s no surprise that Warren Buffet has been talking about bitcoin, since in 2014 he said bitcoin was just a mirage. Since then, bitcoin has risen almost 10 times its value.