Berkshire Hathaway CEO and Chairman Warren Buffett on Monday reaffirmed his aversion to cryptocurrencies.<\/p>\n
\"Cryptocurrencies basically have no value and they don't produce anything,\" he told CNBC's Becky Quick in a \"Squawk Box\" interview. \"In terms of value: zero.\"<\/p>\n
\"I don't have any cryptocurrency and I never will,\" added Buffett, who was interviewed two days after he released his annual shareholder letter.<\/p>\n
Buffett has been a long-time critic of the world's largest digital coin. He called bitcoin \"probably rat poison squared,\" ahead of the 2018 Berkshire Hathaway annual shareholder meeting. A \"mirage,\" \"not a currency,\" and \"tulips\" are among the descriptors Buffett has used for bitcoin, according to CNBC's Warren Buffett Archive.<\/p>\n
Berkshire Vice Chairman Charlie Munger has called it a \"turd,\" and said that trading cryptocurrencies is \"just dementia.\"<\/p>\n
Last year, in an attempt to change Buffett's mind, Justin Sun, founder of cryptocurrency TRON and CEO of file-sharing company BitTorrent, bid $4.57 million in a charity auction to have a meal with the bitcoin skeptic.<\/p>\n
\"When Justin and four friends came, they behaved perfectly and we had a very friendly 3-hour dinner and the whole thing was a very friendly exchange of ideas,\" Buffett said. He added that neither he nor Sun changed their stance on bitcoin.<\/p>\n
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Read this article: Berkshire Hathaway CEO and Chairman Warren Buffett on Monday reaffirmed his aversion to cryptocurrencies. \"Cryptocurrencies basically have no value and they don't produce anything,\" he told CNBC's Becky Quick in a \"Squawk Box\" interview Continue reading
\nWarren Buffett: Cryptocurrency 'has no value' 'I don't own any and never will' - CNBC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"