‘Just Beware’ Says Jamie Dimon and Warren Buffet on Bitcoin
Bitcoin has somehow remained as one of the most favoured as well as controversial digital currency in the cryptocurrency market. Over the past few years, Bitcoin has given fascinating returns to its investors and still continues to be the world’s largest digital currency in terms of the market cap. However, this is has not stopped ardent Bitcoin critics from taking a dig at the cryptocurrency.
During the latest interview with CNBC, two of the biggest giants of the Wall Street - Jamie Dimon and Warren Buffet - raised a red flag over investing in Bitcoin. Last year in September 2017, Jamie Dimon, CEO of JP Morgan Chase erupted a big controversy by calling Bitcoin a “fraud”. Following this, Jamie received a lot of heat from Bitcoin supporters and enthusiasts.
After Jamie’s comments in September, Bitcoin shot to fame to hit an all-time high of $20,000 in December 2017 last year. This year in January, Jamie in another interview said that he regrets his “fraud” comment on Bitcoin.
Appearing in a joint interview on CNBC this Thursday, June 7, Jamie and Buffet yet again reminded investors over their wide criticism on Bitcoin. In a casual tone, the CNBC host asked both “You both have said some pretty nasty things about bitcoin recently, Which one of you hates bitcoin more?”
The ‘Oracle of Omaha’ was quick enough to respond saying "I set a high standard. I don't know whether Jamie can top me or not.” In the past too, Warren Buffet has repeatedly grown harsh criticism on the digital currency saying that buying Bitcoins is just gambling and not investment. Apart from this, Buffet has been throwing several adjectives for Bitcoin like ‘real bubble’, ‘bad ending’ even calling it a ‘rot poison squared’ much recently.
On the other hand considering the past times, Dimon made a more measured comment saying “I don’t want to be a bitcoin spokesman, you know. Just beware.”
Just like Buffet, Dimon too has been a vocal critic of Bitcoin saying that Bitcoin investment is a waste of time and even calling its investors to be “stupid”.