‘Big Zero’ — Why This Investing Guru And Warren Buffett Disciple Believes The Worst For Crypto Is Yet To Come

‘Big Zero’ — Why This Investing Guru And Warren Buffett Disciple Believes The Worst For Crypto Is Yet To Come
фото показано с : zycrypto.com

2022-6-12 22:44

Growing concerns about the state of the global economy and investors’ risk-off sentiment continue to weigh on the bitcoin price. The top cryptocurrency has already lost a lot of value in recent months, and expectations are that the worst is not yet over.

Woeful Times Lie Ahead

Veteran value investor Mohnish Pabrai told CNBC that crypto investments will eventually crash to the “big zero”. 

The bitcoin bulls have been able to defend the crucial $30,000 price threshold over the past few weeks. While market participants expect a significant rebound after months of bloodletting, some pundits have warned that a deeper sell-off is in the cards.

This is notably not the first time Pabrai is taking aim at crypto assets. Speaking at the Everything Money podcast last December, the renowned investor expressed his contempt for the fast addition of new coins in the crypto market. Pabrai, who once spent $650,000 on a charity lunch with Warren Buffett, predicted at the time that the crypto sector would abruptly tank to zero and “hurt a lot of people.”

Warren Buffett Still Hates Crypto

Berkshire Hathaway CEO Warren Buffett has long derided cryptocurrencies for their lack of value and high volatility. The 91-year-old billionaire investor recently reiterated that cryptocurrencies are worthless, adding that he would not buy all the bitcoin in the market even if it was offered to him for a meager $25.

Meanwhile, Buffett’s sidekick and Berkshire Hathaway vice-chairman, Charlie Munger, has previously asserted that bitcoin “is stupid because it’s still likely to go to zero.”

Buffett’s and Munger’s hatred for bitcoin isn’t surprising to many. A substantial chunk of Berkshire Hathaway’s holdings and Munger’s portfolio are major financial institutions and payment providers such as Bank of America, Wells Fargo, Visa, and Mastercard — businesses that crypto aims to disrupt the most.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Global Currency Reserve (GCR) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.569
Капитализация $0 Rank 99999
Цена в час новости $ 0.0005018 (-100%)

global state concerns economy risk-off bitcoin price

Источник: zycrypto.com

global state → Результатов: 126


A 'lingua franca' facilitating crypto adoption: Interview with Yellow COO Sergii Kashchenko

Yellow is an ecosystem of products and services for Web3 on the blockchain network. It combines the order books of all participants with global scaling that is powered by cutting-edge state channel teThe post A 'lingua franca' facilitating crypto adoption: Interview with Yellow COO Sergii Kashchenko appeared first on AMBCrypto.

2022-3-22 08:45


WOW Week is a series of events dedicated to Blockchain, MetaVerse, NFT and Digital Assets. Full week 13/03-20/03, main events 14/03-15/03

After successful WOW Summit in October 2021, the GuyWay Events team started preparing WOW Week, a series of events dedicated to the current state of affairs in the FinTech, DeFi, NFT & GamiFi, Mining WOW Summit is a two-day Blockchain program that will connect global DeFi and NFT leaders with the international businesses, government authorities, tech […] Сообщение WOW Week is a series of events dedicated to Blockchain, MetaVerse, NFT and Digital Assets.

2022-1-26 12:45


Forum about mining, business and DeFi. Current state of the industry and development prospects

On September 30, Moscow will host TerraCrypto forum dedicated to topical blockchain industry issues. Over 300 community representatives will meet to discuss how cryptocurrencies affect the global market during the pandemic, what are the features of mining and trading digital assets, how individual projects and media influencers affect the market.

2021-9-5 23:09


Why Does Business Need Decentralized Digital Ecosystems: Interview with DAO Consensus CEO Ilya Churakov

Ilya Churakov is the CEO of the global blockchain platform DAO Consensus, which aims to give businessmen around the world the opportunity for development and unlimited interaction. We asked Ilya a few questions on what he thinks about the state of the blockchain industry today, and how decentralized autonomous organizations can help in building and […]

2021-7-15 17:36


Hyland and Hedera Hashgraph present blockchain PoC for records verification to Texas Secretary of State

Hyland, a global content services provider for organizations, and Hedera Hashgraph, the enterprise-grade public ledger, today announced that they have presented a Proof of Concept (Poc) to the Texas Secretary of State to evaluate blockchain for the purpose of securing and verifying government-issued records.

2021-1-11 19:23


Фото:

S&P, State Street и другие гиганты Уолл-стрит инвестировали $15 млн в компанию Lukka

Финансовый гигант S&P Global и управляющий институциональными активами State Street Corp. возглавили раунд финансирования на $15 млн поставщика криптовалютных данных Lukka. Lukka is thrilled to announce our Series C fundraise led by @Statestreet, with participation from @SPGlobal and @CPAcom.

2020-12-11 11:20


S&P Global и State Street инвестировали $15 млн в криптостартап Lukka

Криптовалютный стартап Lukka сообщил о привлечении $15 млн от S&P Global, крупнейшего поставщиков аналитических данных для Уолл-Стрит, и банка State Street. На прошлой неделе S&P Dow Jones Indices, подразделение S&P Global, анонсировало запуск криптовалютных индексов в 2021 году.

2020-12-11 18:57


Фото:

Arcane Research: рост P2P-транзакций указывает на массовое принятие биткоина

Востребованность первой криптовалюты увеличивается в глобальном масштабе. Такое мнение высказал аналитик Arcane Research Ветле Лунде, опираясь на данные объемов P2P-транзакций. The state of the P2P Market - @ArcaneResearch The P2P market has been an important arena to provide access to bitcoin for traders all over the world, and volume data clearly shows that bitcoin is getting adopted on a global scale.

2020-10-20 12:21


Фото:

Bitcoin’s Bright Future, Adoption Hurdles, and DeFi Picks with MMCrypto’s Chris

As Bitcoin hits highs not seen thus far in 2020, BeInCrypto joined MMCrypto’s Chris for a chat about the current state of the cryptocurrency market and where it’s headed. Over the course of the interview, Chris touched upon the positive feedback loop created by global financial mismanagement, the barriers Bitcoin must overcome to achieve widespread […] The post Bitcoin’s Bright Future, Adoption Hurdles, and DeFi Picks with MMCrypto’s Chris appeared first on BeInCrypto.

2020-7-30 18:00


The Role of Digital Assets in a Post-COVID World

Ripple CTO David Schwartz continues to explore the wider world of blockchain and digital assets on the Block Stars podcast. In the latest episode, he talks with Professor of Economics and Political Science at the University of California, Berkeley, Barry Eichengreen, about the current state of the global economy and where digital assets fit in … Continued The post The Role of Digital Assets in a Post-COVID World appeared first on Ripple.

2020-7-29 21:28


Block Stars: How Beanie Babies Show that Digital Assets Need Smart Regulation

In episode seven of the Block Stars podcast, Ripple CTO David Schwartz is joined by Ripple General Counsel, Stu Alderoty to discuss the current state of global cryptocurrency regulation. David probably didn’t expect Ripple’s Chief Legal Officer to reference Beanie Babies during their conversation, but the often-valuable stuffed toys are a great analogy for why … Continued The post Block Stars: How Beanie Babies Show that Digital Assets Need Smart Regulation appeared first on Ripple.

2020-7-15 20:45


Фото:

Vitalik Buterin: The Crypto Industry Must Look Beyond Transforming Finance

Vittalik Buterin, the Russian-Canadian Co-Founder of Ethereum, took to his Twitter handle on June 2, 2020, to state categorically that fixing the global economy is no longer the most pressing issue facing the world in 2020, as compared to 2008 when Bitcoin was created and as such the crypto community must start looking beyond justRead MoreRead More.

2020-6-3 14:42


Фото:

‘Utter Horse Manure’; Bitcoin Community Scoffs at WSJ’s Bull Market Claims

After some of the most chaotic weeks of trading in memory, US markets rallied pretty hard for a few days. So hard, in fact, that The Wall Street Journal rushed to declare a new bull market. Given the state of the current global economy, many from the Bitcoin and wider cryptocurrency industry have been quick […] The post ‘Utter Horse Manure’; Bitcoin Community Scoffs at WSJ’s Bull Market Claims appeared first on BeInCrypto.

2020-3-28 14:15


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Decline Continues: Are Bulls Losing Control?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone.

Bitcoin Price Struggles at $100K: Is The Rally Losing Steam?

Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone. Bitcoin started a downside correction from the $102,000 zone. The price is trading above $98,000 and the 100 hourly Simple moving average.

Bitcoin Price Dips Again: Is The Momentum Shifting?

Bitcoin price started another decline and traded below the $98,000 support. BTC dipped toward the $95,000 level and is currently correcting losses. Bitcoin started a fresh decline below the $98,000 support zone.