Jung Min-ho has worked as a staff writer at The Korea Times since 2012, mostly covering social and political issues. He currently belongs to the Politics & City Desk where he covers topics such as health, labor and human rights. Prior to joining the team, he was responsible for covering North Korea and sports. His article about a biosecurity breach of Middle East respiratory syndrome won him an award from the Korea Science Journalists Association in 2016. He is also the co-author of the book, "Medical Pioneers of Korea" (2019). He served as the head of the international relations committee at the Journalists Association of Korea from 2021 to 2023.
Warren Buffett: Bitcoin is a 'delusion'
Berkshire Hathaway Chairman and CEO Warren Buffett is no fan of cryptocurrencies. / AP
By Jung Min-ho
By Jung Min-ho
Billionaire investor Warren Buffett has branded bitcoin, the world's most popular cryptocurrency, a delusion that attracts scammers.
“Bitcoin has no unique value at all,” Buffett said during a
on Feb. 25. “It is a delusion, basically.”
Buffett told his interviewer that he had not changed his negative view on cryptocurrencies in general.
“It attracts charlatans,” he said. “If you do something phony by going out and selling yo-yos or something, there's no money in it ― but when you get into Wall Street, there's huge money.”
Buffett is one of the famous vocal cryptocurrency critics. “Mirage,” “tulips” and “probably rat poison squared” are among the descriptors he has used for bitcoin.
Bitcoin has lost more than 80 percent of its value since reaching a high near $20,000 at the end of 2017. On Feb. 26, it was worth $3,842 a coin, according to Coin Market Cap, a popular data source for price changes in crypto assets.