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 Could 5, Buffett reiterated his detrimental view on the cryptocurrency, saying it’s “most likely 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 bet, not an funding.
“In the event you wanna gamble any individual else will come alongside and pay extra money tomorrow, that’s one type of sport. That’s not investing,” he stated on the time.
In January, he warned buyers that bitcoin and different cryptocurrencies would “nearly definitely” come to a “dangerous ending.”
And, final October, he acknowledged that bitcoin market is a bubble, including, “You possibly can’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 through Shutterstock
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