Peter Theil, a billionaire venture capitalist, said Thursday that Warren Buffett, an American tycoon is Bitcoin’s “Enemy number one.” Theil spoke at a Bitcoin conference in Miami, Florida.
According to Theil Buffett is on Theil’s ‘enemies’ list of people trying to stop cryptocurrency. According to CNBC, “Thiel” said that Buffett is the “sociopathic grandpa of Omaha,” as quoted by Theil. He told the crowd, “Let’s expose [them].”
Peter Thiel, co-founder of PayPal and Palantir, has said several times that he regretted not investing enough in Bitcoin. According to a Bloomberg report, Thiel said that he feels like he’s underinvested. Thiel said that he believed everyone knew the secret to cryptocurrency. He said that it might still be enough of a secret.
Warren Buffett is a well-known investor who invests in stocks that have value and cash flow. He believes that producing goods is the best way to make money. Buffett stated that cryptocurrencies have no real value in a 2020 interview with CNBC. They can’t reproduce, they don’t send you checks, they can do nothing. What you hope is that someone else will pay you more money later, but then that person has the problem. According to CNBC, it does not pass the currency test.
It is not a long-term means of exchange and it does not store value. He said that cryptocurrency is a great way to anonymously transfer money, but it’s not a durable means of exchange.
He also made an analogy to cheques. While they are a means of sending money, he said that they should be valued a lot because they can transmit money.
Jamie Dimon, head of JPMorgan Chase & Co. and Buffet, called Bitcoin a fraud. Dimon doesn’t like Bitcoin, the biggest cryptocurrency by market capitalization. CNBC quoted Dimon as saying, “I personally believe that bitcoin is worthless.” However, Dimon said that he didn’t wish to be a spokesperson for bitcoin. Dimon stated that it doesn’t matter to him. “Our clients are adults. They differ. This is what makes markets. We can’t give them access to bitcoin to purchase themselves, but we can provide them with legal, as clean access as possible.