- Buffett has said in the past that bitcoin and other cryptocurrencies were a “mirage.”
- Bitcoin surged past $11,000 on Wednesday barely 12 hours after topping $10,000 for the first time.
If bitcoin’s soaring price hasn’t convinced you a bubble in cryptocurrency is forming, perhaps celebrity Instagram can.
On Wednesday the pop music superstar Katy Perry posted a photo for her 68 million Instagram followers of her face to face meeting with Warren Buffett, during which she says she asked for the Oracle of Omaha’s thoughts on cryptocurrency. The post has more than 111,000 likes so far.
Bitcoin surged past $11,000 on Wednesday, barely 12 hours after topping $10,000 for the first time.
Buffett is one of the world’s richest men and one of its most famous value investors, known for his fondness for Cherry Coke and ukuleles. We don’t know what his response was, but as recently as October, Buffett told a gathering of business students in his hometown of Omaha, Nebraska, that “You can’t value bitcoin because it’s not a value-producing asset” adding it was “a real bubble.” In the past he has warned people that “it’s a mirage, basically.”
Perry, singer of such hits as “Roar” and “Firework” was in town for her North American tour.