By — Sam Lane Sam Lane Leave your feedback Share Copy URL https://www.pbs.org/newshour/economy/buffett-stay-away-bitcoin Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Buffett: ‘Stay away’ from bitcoin Economy Mar 14, 2014 4:05 PM EDT Billionaire businessman Warren Buffett harshly criticized the virtual currency bitcoin Friday during an interview with CNBC’s “Squawk Box.” “Stay away from it. It’s a mirage, basically,” the Berkshire Hathaway CEO said. “It’s a method of transmitting money…The idea that it has some huge intrinsic value is just a joke in my view.” Buffett’s comments come just weeks after Mt. Gox, one of the world’s largest bitcoin exchanges, went offline and subsequently filed for bankruptcy. Mt. Gox CEO Mark Karpeles said he wasn’t able to account for 850,000 bitcoins — a value of about $425 million. You can watch Buffett’s appearance on CNBC below: We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now By — Sam Lane Sam Lane Sam Lane is reporter/producer in PBS NewsHour's segment unit. @lanesam
Billionaire businessman Warren Buffett harshly criticized the virtual currency bitcoin Friday during an interview with CNBC’s “Squawk Box.” “Stay away from it. It’s a mirage, basically,” the Berkshire Hathaway CEO said. “It’s a method of transmitting money…The idea that it has some huge intrinsic value is just a joke in my view.” Buffett’s comments come just weeks after Mt. Gox, one of the world’s largest bitcoin exchanges, went offline and subsequently filed for bankruptcy. Mt. Gox CEO Mark Karpeles said he wasn’t able to account for 850,000 bitcoins — a value of about $425 million. You can watch Buffett’s appearance on CNBC below: We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now