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Tel Aviv start-up Cyberwrite has started to develop an underwriting platform for cyber insurance policies.
"It does create a rising price, creates more buyers ... If you don't understand it, you get much more excited," Buffett said on CNBC television. "People like to speculate, they like to gamble."
The latest tumble leaves bitcoin more than 40 percent down from the record highs of around $20,000 reached in mid-December.
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