When Warren Buffett Totally Bashed Bitcoin On Live Television | Exploring Markets

When Warren Buffett Totally Bashed Bitcoin On Live Television

Warren Buffett went on CNBC in early 2014 to talk about the stock market and other economic happenings on his mind. One discussion focused on Bitcoin.

Warren Buffett is the greatest investor of our time.

He is also one of the greatest philanthropists the world has ever seen.

It pays to hear his thoughts on the subject. He makes a particularly astute point saying:
"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."

Here's the video: