WARREN BUFFETT AND JIM ROGERS: BEWARE OF BITCOIN
Billionaire investor Warren Buffett has no interest in bitcoin, the virtual currency that is created, owned and traded entirely online in anonymous and unregulated settings.
Buffett says you cannot value bitcoin, because it's not a value-producing asset. He believes that investors should stay away from bitcoin because it’s basically a mirage and has no intrinsic value. According to Buffett, this essentially value-free asset is driven by one thing alone… fear of missing out.
Hedge fund legend Jim Rogers agrees. In a recent interview on TheStreet.com, he said the bitcoin bubble explosion, when it comes, will be”mind-blowing.”
"There have been plenty of bubbles I have seen in my life but this one is a little strange, because at least when the dot-com bubble was around, those were companies that said they had a business," Rogers said. "Even with tulips, supposedly they had a purpose and a use, I have never seen something quite like this," Rogers said
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