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Buffett is having none of it. "You can't value bitcoin, because it's not a value-producing asset," he said recently. Earlier, in 2014, when bitcoin was worth much, much less, Buffett said, "Stay away from it. It's a mirage, basically,” adding, “The idea that it has some huge intrinsic value is just a joke, in my view."
So what drives the value of an essentially value-free asset? FOMO — fear of missing out.
You can't value bitcoin, because it's not a value-producing asset
Says the guy who once bought 130 million ounces of silver
anon_69258 saysSays the guy who once bought 130 million ounces of silver
Lol, good point. Silver also produces nothing on its own.
It makes sense that Warren would not be a fan, because the dollar has done just fine for him, and because he's all about calculating return based on fundamentals, like p/e. What is the p/e of bitcoin?
Patrick saysYou can't value bitcoin, because it's not a value-producing asset
Says the guy who once bought 130 million ounces of silver
http://www.marketwatch.com/story/heed-warren-buffetts-warning-bitcoin-is-pure-fomo-2017-12-26