Venture capitalist Chamath Palihapitiya has long been a staunch advocate of Bitcoin (CRYPTO: BTC) and did not mince words when criticizing legendary investor Warren Buffett’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During a CNBC interview in 2020, Palihapitiya said that Buffett is “completely wrong and outdated” about Bitcoin and cryptocurrency.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 …