Daily crypto: The market is going down and Warren Buffett calls bitcoin gambling

Warren Buffett says bitcoin and other cryptocurrencies will fail within five years.

Warren Buffett. Image source: Wikimedia Commons/Trijo News

2018-04-30 07:41

Totte Löfström

totte.lofstrom@trijo.co

All of the top five biggest cryptocurrencies are in the red for the last 24 hours. The biggest loser was eos.

The American multi-billionaire and investment guru Warren Buffett is skeptical towards bitcoin and cryptocurrencies, to say the least. In an interview with Yahoo Finance, he explains that investing in cryptocurrencies are not worth calling “investing”, but should rather be classified as gambling and pure speculation.

Buffett has previously been pretty negative about bitcoin, and has said that cryptocurrencies do “not produce any value”. He has also been saying that “in terms of cryptocurrencies, generally, I can almost say with certainty that they will come to a bad ending” within five years.

Regarding prices, the whole of top five shows red numbers for the last 24 hours. The biggest loser were eos (-7,44%) and ripple (-3,11%), but bitcoin cash (-2,74%), bitcoin (-1,32%) and ethereum (-1,09%) lost value as well.

On the top 100, cortex (+22,24%), bitshares (+21,34%) and aelf (+14,46%) were the biggest winners, and the biggest losers were waves (-12,53%), aeternity (-12,10%) and mixin (-11,22%).