Could billionaire Warren Buffett, be too old to understand bitcoin or is he just a Johnny-Come-Lately? We ask this question respectfully because Mr. Buffett is obviously one of the richest men in the world and has made a tremendous amount of money by being smart and cutting edge. Bitcoin on the other hand is sort of like hip hop music when it first came out, older people never understood it and most predicted that it would die out fast. Almost 50 years later, hip hop is still alive and profitable.
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In his recent interview with CNBC, a few days ago, Mr. Buffett predicted that cryptocurrencies will not last. He said, “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending … When it happens or how or anything else I don’t know.”
Mr. Buffett is not alone when it comes to predicting the demise of Bitcoin and cryptocurrencies. Some financial experts have called Bitcoins a fraud. Others have warned investors to be aware. Meanwhile, Bitcoin’s value is soaring and deals are being structured between Countries, Banks and cryptocurrencies.
Is Bitcoin the new phenom? It sure seems like it, but like with everything else, only time will tell.
