Warren Buffett: 'Bitcoin has no unique value at all'
In an interview with CNBC's Becky Quick, Berkshire Hathaway's Chairman and CEO Warren Buffett says (starting at 1:55) that, while Bitcoin was an ingenious idea, it is not unique in value considering that new cryptocurrencies are being created constantly. Anthony "The Pomp" Pompliano, co-founder and partner at digital asset management firm Morgan Creek Digital, reacted to this by tweeting: "Warren Buffett just said "Bitcoin is ingenious...but Bitcoin has no unique value at all. It doesn’t produce anything. You can stare at it all day & no Bitcoins come out or anything." REMINDER: Buffett has sat on $100+ billion of cash for last year and a half that has same issues."