Warren Buffett Stands by His Belief That Cryptocurrencies Have No Value

Famed value investor and Berkshire Hathaway CEO Warren Buffett has doubled-down on his position that cryptocurrencies are worthless.

In an interview on Monday with CNBC’s Becky Quick on Squawk Box, Buffett shared that he has not changed his dismissive position on digital currencies, saying, “Cryptocurrencies basically have no value and they don’t produce anything. In terms of value: zero.”

Buffett went on to share that he doesn’t own any cryptocurrency and never plans to.

This comes after last month’s lunch with Justin Sun, the CEO of TRON (TRX), who claimed the lunch went very well and that he sent Buffett his first Bitcoin (BTC).

“It was really an honor and I’m grateful for Mr. Buffett’s dinner, wisdom and vision,” Justin Sun said at the time. “I’ll always remember his kindness and support, and will take Mr. Buffett’s advice and guidance to make TRON a better ecosystem, business with all the partners in the blockchain space and beyond.”

The lunch also included Charlie Lee, the founder of the Litecoin Foundation, Huobi CFO Chris Lee, Binance Charity Foundation head Helen Hai and eToro CEO Yoni Assia.

It now seems fairly clear that nothing will change Buffett’s mind on the value of cryptocurrencies, although based on Berkshire Hathaway’s recent performance, he may want to start reconsidering his position on Bitcoin.
More: Warren Buffett: Cryptocurrency ‘has no value’ – ‘I don’t own any and never will’
Recent: Warren Buffett Dines With Justin Sun, Founder of TRON

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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