Worst Is Yet to Come For Crypto – Says This Popular Investor!
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Mohnish Pabrai, a value investor who had shared his thoughts on the bear crypto market said that the current state of the cryptocurrency industry is going to be even worse than what it is now. Despite all required corrections, the digital asset will undergo the same, Parbai said.
COMING SOON: What’s next for tech? How should value investors move in bear markets? CNBC’s @tanvirgill2 quizzes Warren Buffett disciple @MohnishPabrai. Join the live discussion at 11:00 SIN/HK Jun. 8th (22:00 ET Jun. 7th).
WATCH: https://t.co/Qd2Mx40hGp pic.twitter.com/JOaA8LoJBk
— CNBC International (@CNBCi) June 3, 2022
In addition to this the Indian-American businessman and philanthropist criticized the market as it will take the crypto investors and the stocks down to the bottom of the market. Moreover this is not the first time where Buffett has criticized the cryptomarket, even before this in an podcast, Everything Money conducted in the month of December he complained about the new coins rapid explosion over crypto market.
Predicting: “There’s new currencies and new currencies being created every hour.†The value investor adding his predictions on the sme said that the crypto market may hurt a lot of people by disappearing $3 trillion industry over the time. “If you take all the crypto zero, it will hurt a lot of people.â€
Cryptocurrency counts to zero
Warren Buffett trashed Bitcoin once again at the company’s annual stakeholders meeting and made breaking news over the crypto industry. He further criticized the crypto in a meeting planned at Omaha, and said that He would not even buy the crypto for the price of $25 as he considers them as a big zero.
At the same time, Buffett’s right-hand man, Charlie Munger also made a prediction on Bitcoin saying that The BTC can plunge to zero at any moment in time. Despite all the warnings from skeptics like Buffett, investors still tend to hope for Bitcoin.
