Despite $4.57M Justin Lunch: Warren Buffet Still Doesn’t Own Bitcoin and ‘Never Will’

Despite Tron CEO Justin Sun’s claim that he gave crypto critic Warren Buffet a large sum of cryptocurrencies, the Berkshire Hathaway CEO and Chairman has once again reaffirmed his aversion to cryptocurrencies. 

Buffett made this known in an interview with CNBC Squawk Box today, stating that cryptocurrencies do not have any value attached to them, while Bitcoin’s only achievement till date is reducing the sales numbers for briefcases that criminals need to move money.

“Cryptocurrencies basically have no value, and they don’t produce anything […] I don’t have any cryptocurrency and I never will,” Buffett said.

This is not the first time Buffet is openly criticizing cryptocurrencies, especially the world’s largest cryptocurrency Bitcoin (BTC).  

The Berkshire Hathaway boss has said several unfriendly things in his media appearances while trying to describe Bitcoin such as “rat poison,” “a mirage,” “tulips,” among others. 

Regardless of the widespread adoption that the cryptocurrency industry has gotten over the years, Buffett and many other critics still believe that cryptocurrencies are used to conduct illicit activities, including terrorist financing, money laundering, among others. 

However, it is pertinent to note that subsequent measures put in place by global financial regulators like the Financial Action Task Force (FATF) via KYC/AML regulation have gone a long way to mitigate this issue to the barest minimum.  

Last year, Justin Sun had tried to change Buffett’s mind about cryptocurrencies in general via a $4.57 million lunch that will be given to a charity organization, and possibly woo the die-hard Bitcoin critic over to like the token.

Buffett said Sun came in company with his friends for dinner, which saw both parties exchange ideas for over three hours. However, despite the length of the meeting, none of the parties was able to ideally convince each other as to why cryptocurrencies are better or not. 

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Author: Lele Jima

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Author: Lele Jima