According to Buffett, cryptocurrencies will not be a reserve currency as they are not backed by any production. The entrepreneur stressed that bitcoin “has no chance of becoming a world reserve currency, even against the backdrop of losing public confidence in the US dollar.”
At the same time, he was warned by the US Federal Reserve Service (FRS) of the dangers of endless money printing, calling it insane because such an “addiction” backfires.
Source: Ferra
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