Billionaire Warren Buffett (Warren Buffett), the infamous “bitcoin bear”, again scolded cryptocurrency at the annual shareholders ‘ meeting 2018 Berkshire Hathaway, which took place on 5 may.
Recall that the history of hostility Buffett to the cryptocurrency began in 2014, when he urged the investors to completely avoid bitcoin. In October last year he called bitcoin a “real bubble”, and a couple weeks ago in an interview with Yahoo Finance said that buying cryptocurrencies is not real investment, but merely a speculative gamble. According to him, unlike real estate or shares in companies, virtual currency have no real value and attract only the “charlatans”.
“If you buy something like bitcoin or any cryptocurrency, then you have, in fact, nothing could produce anything,” said Buffett. “You just hope that the next guy will pay more.”
This week Buffett reiterated his previous warning that “the cryptocurrency will have a bad ending” and went even further, calling bitcoin “rat poison in the square.” His quote was quoted on Twitter by CNBC reporter Becky quick (Becky Quick), which led to a live broadcast of the annual shareholders meeting of Berkshire Hathaway.
A longtime partner of Buffett and Vice-Chairman of Berkshire Hathaway billionaire Charlie Munger (Charlie Munger) also said about bitcoin a few cross words, comparing the top cryptocurrency by market capitalization of shit that is traded weak-minded.
“Cryptocurrency like even less than the Warren… for me it’s just the dementia”. And the Department for trade bitcoin it is like “someone else sells crap, and you stay out of the way”, — quoted the manger reporter for CNBC.
While Warren Buffett and Charlie Munger remain recognized cryptonatica, the younger generation of technology billionaires such as Twitter CEO Jack Dorsey (Jack Dorsey), co-founder of PayPal Peter Thiel (Peter Thiel) and venture capitalist Tim Draper (Tim Draper), are convinced that bitcoin with us for a long time and it will displace all other currencies.
It should be noted that Draper is so confident in the future of cryptocurrency predicts that the growth of bitcoin in 2020 to $250 000. Investment tycoon, who was an early investor in Skype, Hotmail and Tesla, said last month that bitcoin will grow stronger than all three companies combined, because cryptanalyse —an event more significant than the advent of the Internet.
During a speech on the blockchain-an event organized by the Draper University in San MATEO, he said:
“This is more than the Internet. This is more than Iron age, the Renaissance. This is more than the Industrial revolution. Cryptocurrency affect the whole world, and they’ll do it faster than you can imagine”.