Bitcoin Investors have taken to Twitter to attack respected investor and archenemy of BTC after it was known that Warren Buffet’s investment, Wells Fargo, has been fined “93 times for fraud and other abuses” that amounts to a total of $14.8 billion.
Different investors who weren’t soft on Warren Buffet raised diverse issues on the billionaire who has been a known critic of Bitcoin.
Investors Reply Bitcoin Critic Warren Buffet
One of them, Barry Silbert, CEO and founder of Digital Currency Group, a firm that has invested in over 130 cryptocurrency ventures across the globe, said he will take Bitcoin’s Charlatans over Well Fargo that has been fined 93 times over from and other offenses amounting to a sum of $14.8 billion within 19 years.
“Wells Fargo, a Buffett investment, has been fined 93 times for fraud and other abuses, for a total of $14.8 billion in fines since just 2000 I’ll take bitcoin’s “charlatans” over that any day.”
Wells Fargo, a Buffett investment, has been fined 93 times for fraud and other abuses, for a total of $14.8 billion in fines since just 2000
I'll take bitcoin's "charlatans" over that any day https://t.co/9OZkzxgQ7x
— Barry Silbert (@barrysilbert) March 9, 2019
He said this in reply to Buffet’s earlier comments that “Bitcoin has no unique value at all,” and that the digital asset is “a delusion” that “attracts charlatans”. Buffet said he pity those who invest in Bitcoin thinking it could change their lives.
Buffet said: “If you do something phony by going out and selling yo-yos or something, there’s no money in it — but when you get into Wall Street, there’s huge money.”
Unlike in the crypto space, Buffet’s Wells Fargo had being caught committing different offences ranging from opening fake accounts to forging clients signatures.
According to reports many a number of Wells Fargo’s employees have opened 3.5 million unnecessary accounts within 15 years.
Also, Anthony Pompliano who added his comment on the statement of Barry Silbert, said, “For those keeping track at home, that means Wells Fargo has paid more than 20% of Bitcoin’s market cap in fines in the last 19 years for their fraudulent activity.”
For those keeping track at home, that means Wells Fargo has paid more than 20% of Bitcoin’s market cap in fines in the last 19 years for their fraudulent activity.
— Pomp 🌪 (@APompliano) March 9, 2019
Another Bitcoin investor, CZ Binance, said, everybody does not need to use Bitcoin before for the digital asset to have value.
“Not everyone uses USD, yet it has value. We don’t need everyone to use bitcoin for it to have value.”
Not everyone uses USD, yet it has value. We don't need everyone to use bitcoin for it to have value. https://t.co/tdqVL4Y5BA
— CZ Binance (@cz_binance) March 10, 2019