Billionaire investor Warren Buffett has also joined the stage featuring others who believe that the market of Bitcoin is a ‘Bubble’. Buffet talked about this topic in a question and answer session at Omaha earlier this month, According to MarketWatch.
“People get excited from big price movements, and Wall Street accommodates,” He also said. Bitcoin is a “real bubble”, Buffett also criticized the idea of applying a value to Bitcoin.
“You can’t value Bitcoin because it’s not a value-producing asset.”
Warren Buffett comment come at the time when Bitcoin has just jumped over $6000 for the first time in the history. According to Coin Desk, he also give a similar statement in 2014 and advised investors to stay away from Bitcoin completely. Bitcoin’s current market cap today is $97,453,418,554 which actually shows the other picture about the coin near future.