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Fraud: Bitcoin (BTC) Investors Attack Buffet’s Wells Fargo For Paying Over 20% of Bitcoin Market Cap in Fine


Fraud: Bitcoin (BTC) Investors Attack Buffet’s Wells Fargo For Paying Over 20% of Bitcoin Market Cap in Fine

Bitcoin (BTC) Investors have taken to Twitter to attack respected investor and archenemy of Bitcoin (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 (BTC).

Investors Reply Bitcoin (BTC) 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.”

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.

Read: Facebook Coin Could Hit The Market In The Next 6 Months – Report

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.”

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.”

Oliver is an online publisher, managing various blogs through the years. He had contributed to multiple news portals in the US and the UK. His interest varies from Political Agendas to recent Technological advancements. He is now a full-time contributor to TODAY'S GAZETTE.

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