Warren Buffet has blasted bitcoin again, calling it a “delusion.”
Speaking on CNBC’s Squawk Box, he said:
“Bitcoin has no unique value at all. It doesn’t produce anything. You can stare at it all day and no little bitcoins come out. It’s a delusion basically.”
Buffet, one of the world’s richest men, praised blockchain and its technology, saying “It’s a very ingenious thing to figure out how to have a limited supply and make it harder and more expensive to create.”
But the ‘Oracle of Omaha’ admitted he knows very little about the technology:
“This is explained to me by people a lot smarter than I am.”
This is a developing story…Stay tuned.