Ride the Lightning

Warren Buffet: Bitcoin is Probably Rat Poison Squared

May 9, 2018

Warren Buffet has never hesitated to speak his mind. So I wasn't surprised when BGR posted that Warren had referred to Bitcoin as "rat poison squared" in an interview with CNBC. Bill Gates was no more charitable saying, "As an asset class, you're not producing anything and so you shouldn't expect it to go up. It's kind of a pure 'greater fool theory' type of investment. I agree I would short it if there was an easy way to do it."

Berkshire Hathaway vice chairman Charlie Munger had an even more jarring take on cryptocurrency, categorizing the hype surrounding it as akin to "dementia." "I like cryptocurrencies a lot less than you do," Munger told Buffett at a Berkshire Hathaway shareholders meeting this weekend. "To me, it's just dementia. It's like somebody else is trading turds and you decide you can't be left out."

So there you have it. A pretty unvarnished view by very wealthy men. Rat poison and turds – interesting images indeed.

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