Billionaire Warren Buffett Calls Bitcoin ‘Rat Poison Squared’

The billionaire chairman and CEO of Berkshire Hathaway, Warren Buffett, has once more hit out at bitcoin, evaluating it with rat poison.

Presiding over the Berkshire Hathaway 2018 annual shareholder assembly on Might 5, Buffett reiterated his destructive view on the cryptocurrency, saying it’s “in all probability rat poison squared,” CNBC studies.

Buffet has one thing of a historical past of knocking the cryptocurrency.

Final week, the so-called “Oracle of Omaha” argued that investing in bitcoin is a big gamble, not an funding.

“If you happen to wanna gamble any individual else will come alongside and pay extra money tomorrow, that’s one sort of sport. That’s not investing,” he stated on the time.

In January, he warned investors that bitcoin and different cryptocurrencies would “virtually actually” come to a “unhealthy ending.”

And, final October, he acknowledged that bitcoin market is a bubble, including, “You’ll be able to’t worth bitcoin as a result of it’s not a value-producing asset.”

At Saturday’s shareholder assembly, Berkshire Hathaway’s vice chairman Charlie Munger additionally chimed in on the expertise, calling cryptocurrency buying and selling “simply dementia.”

Warren Buffett picture by way of Shutterstock

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