Buffet Dismisses Bitcoin, Calls Buyer “Rat Poison Squared”
Last Monday, billionaire Warren Buffett release a number of negative remarks about Bitcoin and cryptocurrency which he likened to to the tulip mania in 17th century Holland.
The Berkshire Hathaway CEO called Bitcoin buyers “rat poison squared” and said that the rising prices were driven merely by its mystique. He added that people are excited by it because they do not understand it and instead urged investors to look into US stocks.
Meanwhile, Berkshire vice chairman Charlie Munger called Bitcoin “worthless artificial gold.” and likened it to Oscar Wilde’s definition of fox hunting, calling it “the pursuit of the uneatable by the unspeakable.”