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Master investor and chairman, CEO of Berkshire Hathaway Warren Buffett, isn’t shy about his financial opinions. Appearing on CNBC Friday to discuss an NCAA-related contest, Buffett weighed in on a number of topics, including bitcoin.
“Stay away from it,” he was quoted as saying in a transcript. “It’s a mirage basically.”
He said that the idea bitcoin might have “intrinsic value is just a joke.”
On a positive note, Buffett did acknowledge that bitcoin was “a very effective way” of transmitting money, but added that so were checks and money orders.
This isn’t the first time Buffett has spoken on the topic of bitcoin. In early March, Buffett said bitcoin was “not a currency” in another interview with CNBC.
Certainly, his opinion might not be respected in the digital currency community, but Buffett’s words are often praised upon in the financial industry, given his investment track record. [source: Wall Street Journal, MarketWatch]
