The value of bitcoin is drastically declining, and it seems it would soon drop to the $8000 mark instead of getting to the $10k levels as a lot of investors had hoped. The crypto community members are slamming at the recent claims of the billionaire investor – Warren Buffett. One crypto expert said: “the comment of Buffett shows lack of engagement in innovation and technology.”
The Value of Bitcoin
The value of bitcoin has declined to $9059, a reduction of $120 on the day so far, and a huge decline from the high of the week at $9922. The comment of Warren Buffett over the weekend, referring to bitcoin as a “rat poison squared,” has made the cryptocurrency community confused and angry – and a lot of them consider Warren Buffett to be a hero.
Mark Wright (a BBC Apprentice Winner, Bitcoin investors, and a strong believer of digital currency) said that he absolutely disagrees with the opinion of Buffett on Bitcoin. He said irrespective of the high volatility of the digital currency industry, it has soared in the past couple of years, with lots of predictions that the market valuation of digital currencies will get to a trillion dollars by the end of this year.
Others Also Slams the Comment of Warren Buffett
The founder and CEO of Freetrade – Adam Dodds also said that he completely disagrees with what Warren Buffett said about bitcoin and he thinks it is a rather outlandish statement. He also said that digital currencies are a paradigm shift as a technology, and he thinks the full capabilities of this technology has not come to the light yet.
Former Trump Camp Advisor Also Supports Digital Currencies
Gary Cohn – one-time chief economic advisor to the United States President and Former President of Goldman Sachs – believes that digital currencies will be a part of the future, and it will become widely accepted.