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Highlights
- Buffett and Berkshire Hathaway's vice chairman Charlie Munger, both continued their long-held criticism of bitcoin and cryptocurrencies at the company's annual shareholder meeting on Saturday
- Currently the value of Bitcoin is US$38,664 – a drop of three percent in the past 24 hours
- Yuga Labs – the creator of The Bored Ape Yacht Club NFTs – dropped a new metaverse at the weekend, which has taken the virtual world by storm, bringing in over US$310 million in its NFT drop
The battle between traditional investments and digital assets has flared up once again with famed investor Warren Buffet having some choice words to say about the flagship cryptocurrency, Bitcoin.
Buffett and Berkshire Hathaway's vice chairman Charlie Munger, both continued their long-held criticism of bitcoin and cryptocurrencies at the company's annual shareholder meeting on Saturday.
Buffet reiterated his reason for despising crypto, saying that it has no tangible value and that if someone offered him all the Bitcoin in the world for twenty-five dollars, he would not accept it.
Charlie Munger also chimed in saying that he tries to avoid things that are stupid, evil and make him look bad, adding that Bitcoin does all three.
The crypto community were quick to respond with crypto-backing venture capitalist, Marc Andreessen pointing out the irony of Buffett attacking bitcoin "while nakedly shilling diabetes"—referring to Buffett being surrounded with boxes of candy on stage.
Not to be outdone, Tesla CEO Elon Musk also mocked the legendary investor, laughing at how many times he said “Bitcoin” in the clip.
Bitcoin has had a rough time since hitting its all time high of US$68,500 in November last year.
Currently the value of Bitcoin is US$38,664 – a drop of three per cent in the past 24 hours.
Meanwhile, Ethereum dropped four per cent overnight and is now valued at US$2,838.
Altcoin News
Yuga Labs – the creator of The Bored Ape Yacht Club NFTs – dropped a new metaverse at the weekend, which has taken the virtual world by storm, bringing in over US$310 million in its NFT drop.
Yuga Labs minted its first round of Otherdeeds NFTs on Saturday, making 55,000 available to pre-approved wallets.
At 305 APE apiece, the drop brought in over US$310 million into Yuga’s blockchain.
Although it’s unverified at this stage, it’s widely believed that the Otherdeed NFTs will represent land in the Otherside Metaverse - a highly anticipated Metaverse world, which will incorporate the brand imaging of various high-profile NFT favourites, including the Bored Ape Yacht Club, amongst others.
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Image Source @ 2022 Kalkine Media®
Data Source: CoinMarketCap.com, based on top 100 cryptos.
Note: Growth from the 24 hours prior to 12:30pm AEDT
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