Generally speaking, the comments made by the mainstream financial moguls have been considered valuable and influential by people in the industry. This furor reaches its crescendo when mainstream players are interested in the cryptocurrency industry.
In a recent conversation, Warren Buffett, CEO of Berkshire Hathway, spoke about the cryptocurrency industry and its plans to improve the financial ecosystem.
During the interview, Buffett claimed that cryptocurrencies had no value at all and that he himself did not hold any crypto assets. Buffett reiterated that he would never buy any crypto because he did not understand its financial potential.
Since he first spoke about crypto months back, Buffett’s comments have not changed. He had initially compared cryptocurrencies to ‘ rat poison ‘ and added that virtual assets have no benefit for its users. Berkshire Hathaway on their part has carried out processes to improve the ETF field. This was demonstrated when Hathaway recently purchased ETF that Buffett has categorically denied as “not his decision”.
The fourth wealthiest person on Earth has assured everyone that his focus will primarily be on traditional assets and not on virtual currencies. Speaking to CNBC, Buffett added that users cannot do anything with crypto other than selling them to others. For someone who sides with fiat so strongly, Buffett has definitely been in crypto news a lot.
Warren Buffet had met with Tron CEO Justin Sun recently where the two billionaires spoke about the growing cryptocurrency industry. After the meet, Sun had tweeted saying that the meeting was successful and beneficial. Sun even revealed that he had gifted Buffett with some Bitcoin on his Samsun smartphone.
Sun had used Samsung because the South Korean technology giant had integrated TRX into its Galaxy smartphones. Buffett’s latest comments also drew a response from Sun who took to Twitter and said:
“Dinner w/ @WarrenBuffett was not only to help the homeless people of SF but to discuss differences of opinions in investments & life experiences. In terms of charity impact, the dinner was very successful! Mr. Buffett is such a great teacher of life, I learned so much!”
It is yet to be seen if Buffett will change his stance on crypto but the community still believed that adoption will only be improved with rapid developments in the space.