• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
Warren Buffett Calls Bitcoin 'Rat Poison,' Ignores Real-World Utility

Warren Buffett Calls Bitcoin ‘Rat Poison,’ Ignores Real-World Utility

Adam James by Adam James
5 years ago
in News, Altcoin News, Bitcoin, Bitcoin Investment, Markets and Prices, News teaser
0

Warren Buffett has once again delivered a bearish and quote-worthy statement in regards to Bitcoin and other cryptocurrencies, calling Bitcoin “rat poison squared” – but is he still missing the point?


In case you didn’t already know, investing legend Warren Buffett doesn’t like Bitcoin.

According to CNBC‘s Becky Quick, The Oracle of Omaha once again expressed his negative views on the dominant cryptocurrency by market capitalization, stating that Bitcoin is “probably rat poison squared” while presiding at the Berkshire Hathaway 2018 annual shareholder meeting.

.@WarrenBuffett on bitcoin just now: “it’s probably rat poison squared.” #brk2018

— Becky Quick (@BeckyQuick) May 5, 2018

Meanwhile, Charlie Munger, Berkshire’s vice chairman, made the claim that trading in cryptocurrencies is “just dementia.”

Of course, Buffett’s incredibly bearish sentiment is already well-documented. He previously stated in a much-quoted interview with CNBC:

In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending. If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it but I would never short a dime’s worth.

However, Buffett – who serves as the chairman and CEO of Berkshire Hathaway – hasn’t exactly outperformed with his predictions over the last ten years.

REMINDER: Warren Buffett hasn’t beat the S&P with Berkshire over the last decade.#PeskyFacts pic.twitter.com/v4WK2bt5ox

— Pomp ? (@APompliano) May 5, 2018

A Fundamental Lack of Understanding

Naturally, not everyone in the investment world shares Buffett’s opinion. eToro Senior Analyst Mati Greenspan, for example, has noted that Bitcoin and many cryptocurrencies have real-world use cases – some of which fundamentally change the way finance is conducted. In a recent email, Greenspan noted:

In South Korea, they’ve now figured out how to deal with metal coins. It seems the metal used to make some of their currency was actually more valuable than the minted coin itself, leading to mass smelting. So now they’re looking to go crypto.

See, some people might see bitcoin as rat poison or a ‘purely speculative asset’ but some see it as the only alternative to what they currently have. A trustless line of defense for when trust erodes.

Of course, providing “a trustless line of defense for when trust erodes” is one of the very foundations upon which Bitcoin and other cryptocurrencies have been built. Some, like Buffett, still don’t understand that.

Old man yelling at Bitcoin

But then again, maybe they don’t want to.

Still, not everyone disagrees with Buffett’s comparison – though not for the same reasons:

#bitcoin is rat poison because central bankers are the rats

— Honey⚡Badger (@badgerbitcoin) May 7, 2018

What do you think of Warren Buffett calling Bitcoin “rat poison squared?” Do you think he’s incapable of thinking outside of his own box? Let us know in the comments below.


Images courtesy of Twitter/@BeckyQuick, Twitter/@APompliano, Twitter/@badgerbitcoin, DepositPhoto

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Adam James

Adam James

Adam James lives in Budapest and is the Managing Editor of Bitcoinist.com. He digs Gibson guitars that sound like Tyrannosauruses, Romantic & Victorian poetry, Franco-era Spanish films, LPs, Chelsea FC, Bob Dylan, Pilot G2 10s, black coffee, video games, and cryptocurrency.

Related Posts

Bitcoin

Bitcoin Roadblock Unveiled: Analyst Identifies Barrier Faced By The Top Crypto

12 hours ago
Bitcoin ESG

Bitcoin Is The Ultimate ESG Asset, Expert Validates

18 hours ago
Upbit

Upbit’s Dark Hour: Fake APT Tokens Wreak Havoc In South Korea

21 hours ago
Barclays

Crypto Investor Barclays Announces Closure Of UK Accounts For British Expats

2 days ago
Friend.tech

New Report Dives Into The Good, The Bad, And The Ugly Side Of Friend.Tech

3 days ago
Bitcoin

Six And Counting: The Global Bitcoin Billionaire Phenomenon Unveiled

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • The Growing Traffic to the Scorpion Casino Presale Hints at...

    26 mins ago
  • VeChain (VET) and Avalanche (AVAX) Market Dilemmas: New...

    7 hours ago
  • Can Solana (SOL) and Ripple (XRP) Prices Make a Surprise...

    8 hours ago
  • Volatile Market, Yet Bitcoin (BTC) Reaches Monthly Peak...

    13 hours ago
  • Shiba Inu (SHIB) Into the Top Jobs Ecosystem, Pepe (PEPE)...

    13 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.