May 8, 2018Siraj Sarwar
Warren Buffett criticism: Warren Buffett, the legendary investor, has frequently been criticizing the cryptocurrency markets. The chairman of Berkshire Hathaway doesn’t have any enthusiasm in the emerging market. He believes cryptocurrencies are neither an asset nor a currency. And thus, he thinks it shares similarities more towards gambling and not investing. The major reason for his rejection lies behind the concept of fair value. Stock market investors always prefer to gauge the fair value of the asset before placing any investment. During the annual shareholder meeting of Berkshire Hathaway on Saturday, Buffett called Bitcoin (BTC)“rat poison squared.” The world’s third wealthiest investors also promised that he will never invest in the cryptocurrency market.
Bulls are Angry About Warren Buffett Criticism
Bulls are blaming Warren Buffett for the collapse in price and of hindering the bull-run that almost hit the $10K mark during the weekend. Bitcoin and other digital currencies were in the red on Monday, while the total cryptocurrency market capitalization crumpled from $465 billion to $435 billion.
Bulls consider Buffett’s cynicism is unfair. DeVere Group founder and CEO, Nigel Green said, “What I do find monumentally baffling is that two of the world’s most successful investor cannot see the intrinsic value of some form of cryptocurrency."Bulls also question Buffett that does he not notice numerous major tech companies, household names, established banking groups are investing in or planning to adopt cryptocurrencies?They further say why Warren Buffett isn’t considering financial regulators and central banks are recognizing cryptocurrency market?U.S., Japan, South Korea and several other countries have accepted cryptocurrencies, and they have also enforced trading guidelines for investors and crypto exchanges.The NASDAQ CEO recently hinted to become a cryptocurrency exchange while Goldman Sachs has announced to form a cryptocurrency trading desk. Bulls are optimistic that cryptocurrency market will move steadily higher in the days to come albeit Warren Buffett denouncement.Featured Image: twitter
STOCKS YOU MAY LIKE
Crypto News
Square Wins US Patent for Fiat-to-Crypto Payments Network
Jan 22, 2020Caileam Raleigh
Square, the payment services provider founded and run by Twitter's Jack Dorsey, has won a US patent to launcha new network that enables crypto-to-fiat transactions. Square was founded in 2009 by Jack Dorsey and Jim ... [Read]
Crypto News
Cryptocurrency Future- What Does It Look Like?
Feb 9, 2018Robert Herbison
Cryptocurrency Future - What would that actually look like? A cryptocurrency or digital currency is essentially virtual funding managed by sophisticated encryption methods, collectively known as cryptography. It first manifested back in 2009 in the ... [Read]
Crypto News
The Cryptocurrency Mania Will Expand Further
Jan 5, 2018Siraj Sarwar
The consolidated value of cryptocurrencies has recently crossed the $750 billion mark. Bitcoin, the most popular among cryptocurrencies, accounts for almost 40% the total market capitalization of crypto markets. Market capitalization is always considered as ... [Read]
Altcoins
Stellar (XLM) the Latest Cryptocurrency Added to Grayscale
Jan 18, 2019Chelsea Roh
Grayscale, a cryptocurrency investment group, has just announced that it has launched its latest fund. This new fund is dedicatedspecifically to Stellar (XLM). https://twitter.com/GrayscaleInvest/status/1085904356635959297 Grayscale Adds Stellar (XLM) Grayscale is a digital asset management firm ... [Read]
Ethereum News
Ethereum Traders “Selling the News” During the Merge — Crash Ahead?
Sep 15, 2022Adewumi Victor
As the ETH exchange balance rises, Ethereum traders are banking on a "sell-the-news" scenario on the day of the Merge. On September 15, Ethereum's long-awaited shift to proof-of-stake was accomplished via "the Merge," while traders ... [Read]
Crypto News
Huobi Obtains License to Operate in the British Virgin Islands, States There Is No Timetable for Expansion Into the United Kingdom Yet
Sep 12, 2022Adewumi Victor
Huobi's affiliate Brtuomi Worldwide is one of the first exchanges in the British Overseas Territory to offer compliant crypto derivatives and trading services. In addition, Huobi, a major cryptocurrency exchange, is expanding its worldwide ... [Read]
Crypto News
Starbucks Announces New NFT Utility For Coffee Members
Sep 12, 2022Adewumi Victor
Starbucks The nonfungible tokens, or NFTs, are created on Polygon's proof-of-stake blockchain. Starbucks said on Monday that its U.S. members would be able to earn and purchase digital collectible stamps in the form of nonfungible ... [Read]
Bitcoin News
El Salvador Marks One-Year Anniversary Of Bitcoin: A Year Of Ups And Downs
Sep 7, 2022Adewumi Victor
El Salvador's first Bitcoin anniversary coincides with BTC losing more than 60% of its value in a year, but this does not imply that the country's Bitcoin experiment has failed. On the contrary, by enforcing ... [Read]
Crypto News
Crypto App Targeting Malware, Sharkbot Resurfaces On Google App Store
Sep 5, 2022Adewumi Victor
The SharkBot malware family was discovered in October last year and has since evolved with new ways to hack into users' Android-based crypto and bank apps. In addition, a freshly improved version of malware-targeting banking ... [Read]
