Chamath Palihapitiya Once Disclosed He Was A Warren Buffett Disciple, But Disagreed With The Investing Legend's 'Wrong, Outdated' Views On Bitcoin

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Venture capitalist Chamath Palihapitiya has long been a staunch advocate of Bitcoin (CRYPTO: BTC) and did not mince words when criticizing legendary investor WarrenBuffett’s scathing remarks about the asset.

Palihapitya Defends Crypto Against Buffett’s Criticism

During a CNBC interview in 2020, Palihapitiya said that Buffett is "completely wrong and outdated" about Bitcoin and cryptocurrency.

For background, Buffett said in an earlier interview that cryptocurrencies have no value and he will never wager his money on them.

Palihapitiya then defined Bitcoin as the only “uncorrelated hedge” in the world and urged putting 1% of one's portfolio to the apex cryptocurrency.

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It’s Okay To Have Biases, Says Palihapitiya

This wasn't the first time Palihapitiya disagreed with Buffett on cryptocurrency.

In a May 2018 interview with CNBC, he said, “It’s really unfair to not understand something and then disparage it,” in response to Buffett's remark that Bitcoin is "creating nothing."

"I think we have to acknowledge that we all have biases," Palihapitiya added.

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Despite his criticism, he called Buffett an “exceptional” person and claimed to be a “disciple” of the renowned investor.

On the date of the interview, Bitcoin closed at $9,325.18 apiece. As of this writing, it is exchanging hands at $121,809.56, marking a massive 1206.24% increase.

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This article Chamath Palihapitiya Once Disclosed He Was A Warren Buffett Disciple, But Disagreed With The Investing Legend's 'Wrong, Outdated' Views On Bitcoin originally appeared on Benzinga.com

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