Apparently Warren Buffett could easily resist Justin Sun’s flattery at the famous dinner. In an interview with CNBC, the star investor stressed that in his opinion, Kyoto currencies have no value and never will.
“Crypto-currencies basically have no value and they produce nothing. So you can stare at this little ledger thing for the next 20 years and it says, you have X of these crypto currencies or that… it doesn’t reproduce, it doesn’t deliver, it can’t write you a check, it can’t do anything… and what you hope is that somebody else will come along and pay you more money for it later… but then that person has the problem… but to address the value… you know… zero.”
After Justin Sun’s hopeful tweets after dinner, all illusions are finally destroyed. And this, even though Sun not only gave the star investor crypto-currencies, but also put a bronze horse and a picture of a mouse on top of it. You might say it was a wasted effort.
Nevertheless, the multi-billionaire found the dinner with Justin Sun and his friends amusing. They exchanged interesting ideas and he enjoyed the meal.
In his tweets, Justin wrote that he had given the multi-billionaire a Bitcoin and sent it to his Samsung Galaxy Fold. In the interview, however, Buffet denied that he owns Bitcoin.
“I don’t own crypto-currency… I will never […] What else can you do with it except sell it to someone else? Bitcoin is used, I think, to move a significant amount of money illegally.”
Justin Sun won last year’s annual dinner auction with Warren Buffett. The CEO of the Tron Foundation spent $4.6 million He promised to convince multi-billionaire and investment legend Warren Buffett of the value of crypto-currencies. The 89-year-old had previously described Bitcoin as rat poison, among other things.
Due to kidney stones, the meeting had to be postponed. It finally took place at the beginning of February this year.
Peter Schiff has his say
Bitcoin critic and gold bull Peter Schiff has already commented on the interview.
One thing that Warren Buffett and I have in common is that neither of us owns Bitcoin. It is also interesting that during a long interview and a gold price increase of $40 to a 7-year high and a Bitcoin price drop, Buffett was asked about Bitcoin but not about gold.