In news that should surprise nobody, billionaire investor Warren Buffett has once again thrown shade at Bitcoin (BTC) and the accompanying cryptocurrency market.
‘It Attracts Charlatans’
The famous American business magnate told CNBC’s Becky Quick on Monday’s “Squawk Box”:
Bitcoin has no unique value at all. It is a delusion, basically. […] It attracts charlatans. If you do something phony by going out and selling yo-yos or something, there’s no money in it — but when you get into Wall Street, there’s huge money.
Of course, this is not Buffett’s first stab at the first and foremost cryptocurrency, having previously called it “rat poison squared” and various other headline-worthy but unsubstantiated insults.
Furthermore, as is frequently the case with prominent nocoiners, Buffett didn’t shy away from mentioning that blockchain technology is all fine and dandy and that the nascent technology may succeed without Bitcoin.
‘There is No Bigger Rat than Warren Buffett’
It didn’t take long for Bitcoin bull Max Keiser to fire back at Warren Buffett the magnate shared his yearly letter with Berkshire Hathaway shareholders.
In reference to Berkshire Hathaway’s practice of buying back its own stocks to inflate prices, Keiser stated:
Buffett’s frauds are innumerable and date back decades […] It’s pure fraud. Its sole purpose is to commit accounting fraud for the benefit of insiders.
Keiser did admit that Buffett is right, however, when it comes to Bitcoin (BTC) being “rat poison.” He explained:
He is right. And there is no bigger rat than Warren Buffett. The world is waking up. The Ponzi schemes of Buffett are being revealed and the masses are moving to hard money like bitcoin and gold.
What do you think about Warren Buffett’s latest dismissal of Bitcoin and Max Keiser’s claims that the American business magnate is a fraud and a rat? Let us know what you think in the comments below!
Images courtesy of flickr, Bitcoinist archives.