{"id":73135,"date":"2014-03-18T09:20:37","date_gmt":"2014-03-18T09:20:37","guid":{"rendered":"https:\/\/armbanks.am\/2014\/03\/18\/240469\/"},"modified":"2024-12-15T13:10:27","modified_gmt":"2024-12-15T13:10:27","slug":"buffet-stay-away-from-bitcoin","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2014\/03\/18\/73135\/","title":{"rendered":"Buffet: stay away from bitcoin"},"content":{"rendered":"<p><strong>YEREVAN, March 18. \/ ARKA \/.<\/strong> In an interview with CNBC last Friday, legendary investor and multi-billionaire Warren Buffett described bitcoin as \u201ca mirage\u201d because of his view that the crypto-currency\u2019s intrinsic value as a means of payment is grossly overhyped, vestifinance.ru reported.<\/p>\n<p>Buffet acknowledged that e-currencies offer an efficient way to transfer value but warned investors to \u201cstay away\u201d from bitcoin. He accepted that bitcoin was a \u201cvery effective way of transmitting money\u201d but sees a major flaw in the product\u2019s valuation.<\/p>\n<p>As Buffett put it: \u201cA check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it [money transmission] a bunch of different ways.\u201d<\/p>\n<p>In a major putdown, Buffett concluded: \u201cThe idea that [bitcoin] has some huge intrinsic value is just a joke in my view.\u201d<\/p>\n<p>This is not the first time the Berkshire Hathaway founder has commented on what is arguably now the world\u2019s best known e-currency. At the beginning of March, Buffet dismissed the notion that bitcoin is a currency, adding that he \u201cwouldn\u2019t be surprised if it wasn\u2019t around in the next 10-20 years\u201d.<\/p>\n<p>Buffet earned his billions by being extremely conservative, basing his financial plays on investments with a high degree of certainty. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an interview with CNBC last Friday, legendary investor and multi-billionaire Warren Buffett described bitcoin as \u201ca mirage\u201d because of his view that the crypto-currency\u2019s intrinsic value as a means of payment is grossly overhyped, vestifinance.ru reported<\/p>\n","protected":false},"author":1,"featured_media":160306,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15523,13631],"class_list":{"0":"post-73135","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-en","8":"category-news","9":"tag-bitcoin-2","10":"tag-buffet"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/73135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=73135"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/73135\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/160306"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=73135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=73135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=73135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}