Warren Buffett has come out with another restatement of his negative position on Bitcoin espousing sentiments with the usual labored anti-BTC buzzwords.
Warren Buffet Says Bitcoin ‘Doesn’t Do Anything’
Every so often, the Oracle of Omaha drops some tedious diatribe directed at Bitcoin. This time around, he described the top-ranked cryptocurrency as being nothing but a gamble dominated by frauds.
As quoted by CNBC, the Berkshire Hathaway chief opined:
It doesn’t do anything. It just sits there. It’s like a seashell or something, and that is not an investment to me. It’s a gambling device… there’s been a lot of frauds connected with it. There’s been disappearances, so there’s a lot lost on it. Bitcoin hasn’t produced anything.
Buffett’s characterization of Bitcoin as a fraud-filled arena is particularly rich given the plethora of indictments against Wells Fargo, a bank which Berkshire Hathaway owns almost 10 percent.
In just under 20 years, the bank has been indicted a staggering 93 times and fined more…