Jamie Dimon, CEO of an American bank, JPMorgan Chase, and Warren Buffet, CEO of American multinational conglomerate Berkshire Hathaway Inc., both during a joint interview on CNBC commented about Bitcoin, “Beware”. Both the businessmen believe that Bitcoin is none other than a scam and risk. This is not the first time Jamie Dimon warned about cryptocurrency, earlier in 2017, he said:
If you’re stupid enough to buy it, you’ll pay the price for it one day.
Warren Buffet also speaks up about the currency by stating:
Of our 49 billion, we haven’t moved any to Bitcoin.
In an interview on 7th June on CNBC, the two Wallstreet high-profile businessmen were asked: “Which one of you hates Bitcoin more?” “I set a high standard,” Buffet replied. “I don’t know whether Jamie can top me or not.”
“I don’t want to be a Bitcoin spokesman,” Dimon responded. “Just beware.”
Dimon and Buffet had lately been spending too much time together as they seem to have bonded for their hatred for Bitcoin. Buffett told CNBC that bitcoin was “probably rat poison squared.” Back in 2015, Dimon claimed Bitcoin “a waste of time” and a “fraud” in 2017 but rounded up his statement in January in an interview by Fox News by stating: “Blockchain is real”
Warren Buffet also reiterated that he has not invested a dime in cryptocurrency and will stay away from it. “I get into enough trouble with things I think I know something about … Why in the world should I take a long or short position in something I don’t know anything about.”
Digital currency has always been one of the riskiest investments of all times. With no money back guarantee and insurance policies, cryptocurrency investments aren’t something experienced business professionals would ever recommend. Buffet and Dimon were previously on the same agreement, but Buffet seems to have understood the fact that Bitcoin has a future and might actually turn out to be the only future currency with other currencies such as Ripple, Etherium and many more.