The famous investor Warren Buffett, known as the Oracle of Omaha once again has given the cryptocurrency a negative assessment. Speaking at the annual meeting of shareholders headed by the holding company Berkshire Hathaway on Saturday, may 5, Buffett said that “bitcoin is rat poison in the square.” The words of Buffett quoted an employee of CNBC’s Becky quick.
During the same meeting, the Vice-Chairman of Berkshire Hathaway and longtime employee of Buffett Charlie Munger said:
I felt about the cryptocurrency even less than Warren… I think it’s just dementia.
The cryptocurrency trading, he compared the situation “when someone is selling shit, and you don’t get it”.
In an interview with CNBC in January, Buffett cautioned investors about the hype over bitcoin and other cryptocurrencies. The then Chairman and head of Berkshire Hathaway said:
In General, I can practically guarantee that crypto-currencies face an inglorious end.
Warren Buffett consistently criticizes cryptocurrencies for the last few years. So, he recently stated that “bitcoin is a joke”, and claimed that “bitcoin is not an investment”.