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Binance CEO Zhao Changpeng has said Warren Buffett “does not understand cryptocurrency” and that he is making “a big
mistake.”
In brief comments to Bloomberg TV, the Hong Kong exchange chief countered Buffett’s warnings about cryptocurrency this week, in which he forecast all would “come to a bad ending.”
“I think he knows stock investment and equity investment very well, but I do not think he understands cryptocurrency at all,” Zhao said.
Buffett is a well-known naysayer regarding Bitcoin, announcing he and his business empire had adopted a fully hands-off approach and “will never have a position” in crypto.
His steadfast criticism increasingly contrasts with other financial giants, with even skeptical JPMorgan CEO Jamie Dimon this week saying he “regretted” labelling Bitcoin a fraud last year.