Mohnish Pabrai, a value investor who shared his thoughts on the bear crypto market, said that the current state of the cryptocurrency industry is about to get worse than it is now. Parabai said that despite all the necessary reforms, digital assets will go through the same.
Also the Indian-American businessman and philanthropist criticized the market as it would drive crypto investors and stocks to the bottom of the market. Moreover, this is not the first time that Buffett has criticized the cryptomarket, even earlier in a podcast, Everything Money did in the month of December complaining about the rapid explosion of new coins in the crypto market.
Forecast: “New currencies and new currencies are being created every hour.” The value investor added to his predictions on SMEs saying that the crypto market could hurt a lot of people with the $3 trillion industry disappearing over time. “If you take all Crypto Zero, it will hurt a lot of people.”
Cryptocurrency counts to zero
Warren Buffett trashed bitcoin once again at the company’s annual stakeholders meeting and made breaking news on the crypto industry. He criticized crypto at a meeting held in Omaha, and said that he would not buy crypto even for the price of $25 because he considers them a big zero.
At the same time, Buffett’s right-hand man Charlie Munger also predicted Bitcoin, saying that BTC could drop to zero at any time. Despite all the warnings from skeptics like Buffett, investors still look forward to bitcoin.
