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Warren Buffett, Charlie Munger Slam Bitcoin Again, Resort To Elementary School Insults

Cryptocurrency May 05, 2018 07:32PM ET
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Warren Buffett, Charlie Munger Slam Bitcoin Again, Resort To Elementary School Insults

Billionaire investor and Berkshire Hathaway’s Chairman and CEO Warren Buffett reiterated his negative stance towards cryptocurrencies at the annual meeting of his company Saturday, May 5. Buffet repeated his idea that cryptocurrencies will come to a “bad ending,” and claimed that Bitcoin (BTC) is "probably rat poison squared," according to CNBC.

In response to a question on Buffet’s view of cryptocurrencies raised by an attendee from Ukraine, the “Oracle (NYSE:ORCL) Of Omaha” has made yet another anti-crypto statement. According to Buffet, Bitcoin is not a “productive” asset, unlike land or corporate shares. As a result, investors’ demand for it is the only price-determining factor, making digital currency a handy tool for “charlatans,” Buffet said.

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Warren Buffett, Charlie Munger Slam Bitcoin Again, Resort To Elementary School Insults
 

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Comments (4)
Angie Engel
Angie Engel May 07, 2018 1:52AM ET
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These 'old' guys resent the fact that something else, other than theirs, is the future.... a future where they will not be around, technology!! But hey, it's his thoughts, but thanks anyway.
Aung Kyaw Htun
Aung Kyaw Htun May 05, 2018 10:40PM ET
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He Should live in Medieval age,and not worth to live in this new age.He should die so far.
Amr Hazem
Amr Hazem May 05, 2018 10:03PM ET
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This guy has no vision for futuristic technologies and he should stick to real estate and other Berkshire businesses and let Cryptocurrencies show their real strength in upcoming decade.
Vidente Raziel
Vidente Raziel May 05, 2018 7:38PM ET
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Nonsense
 
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