Saturday, January 3, 2015

Heading Into 2015: Warren Buffett's View on Bitcoin

In a recap of Buffet views going into 2015, Business Insider quotes this comment Buffett made about Bitcoin in March 2014  on CNBC:
Stay away from it. It’s a mirage, basically. … It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope Bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.

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