Bitcoin Intrinsic Value Skepticism
Warren Buffett believes Bitcoin is an abhorrent investment due to its volatility and lack of tangible value.
Too little corroboration in the last 3 days to call a trend (3 articles). Watching for it to gain traction.
Still mostly niche and specialist coverage — not yet picked up broadly by mainstream press.
"Sotiroff is more skeptical of those claims. He says the cryptocurrency's volatility makes it difficult to view as a reliable store of value and notes that investors already have other tools available to hedge against inflation, including Treasury Inflation-Protected Securities, or TIPS."
"Crypto, however, does not fall into these categories, because it has no inherent value.”"
"Former U.K. Prime Minister Boris Johnson has called bitcoin BTC$ 71,543.92 a 'giant Ponzi scheme,' prompting a swift rebuttal from Strategy chairman Michael Saylor and other netizens."
"However, Bitcoin is not a typical present. Its value moves up and down significantly."
"The level of volatility relative to return would suggest that the risk premium, or excess return an investor can expect to earn from investing in bitcoin, is not justified."
"That’s why the 'time-travel millionaire' idea remains more myth than reality."
"WhalePanda outlined his reservations about Bitcoin as a store of value asset."
"Bitcoin has so far behaved more like a high-risk asset than a safe-haven 'digital gold' during economic downturns."
"'Critics say bitcoin’s volatility make it a poor choice as a reserve asset.'"
"I'm still convinced that cryptocurrency is nuts... I'm just not into that kind of gambling."