“People get excited from big price movements, and Wall Street accommodates,”. Describing bitcoin as a “real bubble,” according to the publication, Buffett also criticized the idea of applying a value to bitcoin.
This billionaire Buffett would take a harsh stance toward bitcoin is perhaps unsurprising, given that, in 2014, he advocated that investors stay away from bitcoin entirely.
Others, however, have adopted a different approach. On Oct. 24, New York University’s “Dean of Valuation,” Aswath Damodaran, argued that bitcoin is a true currency and not a fraud in a new blog post.