During one of his frequent visits to his hometown of Omaha in Nebraska, Warren Buffett spoke with students about bitcoin and his prospects.
So, during the event for students of the business faculty, one of the participants asked Warren Buffett about bitcoin.
“Bitcoin cannot be evaluated because it is not a valuable asset,” he replied.
According to Buffett, it is difficult to determine what its price will be, and this is the “real bubble”.
Buffett explained that crypto-currencies represent an “anonymous and very effective way of transferring money,” but on the whole it means nothing:
“Checks are also a way of transferring money. Can they be regarded as money only because they can transfer them? “, He added.
He ended his showing with a more harsh critique of bitcoin, stating that “the idea that he has some huge intrinsic value is just a joke.”
Warren Buffett views does not come as a shock as looking to his company (Berkshire Hathaway) portfolio, he tends to invest in things with solid intrinsic value.