Warren Buffett defined the Bitcoin as rat poison

May 8, 2018 11:22 amComments Off on Warren Buffett defined the Bitcoin as rat poisonViews: 29

Warren BuffettThe investors should keep their fingers away from virtual currencies, warned Warren Buffett. The investor describes Bitcoin, the oldest and most important crypto-currency, as “double rat poison”.

“People buy a Bitcoin only in the hope that they will find someone else to pay them more for it”, said Warren Buffett. He compared obsession with crypto-currency with Dutch tulips in 1637. It is considered the first speculative balloon in the economic history of the world.

Warren Buffett said in January that he would never invest money in crypto-currency. “I can say almost certainly that there will be a bad end”, said he.

Last year the Bitcoin recorded several new records peaking to 20,000 USD in December. But in January 2018 it fell sharply. From its record high of $ 20,000 in the middle of December, it has already lost more than 50%. Currently it is quoted at a price of about 9,370 USD, but recordin bottoms of even 6,000 USD.

Buffett, meanwhile, wants to invest more in Apple shares and praises the iPhone’s recent decision to buy up to 100 billion USD of its own shares. Just a few days ago, Buffett announced that Berkshire Hathaway had bought another 75 million shares of Apple. The news, coupled with the announcement of redemption and earlier quarterly results, raised the price of Apple shares to a record high.

Warren Buffett also said it was a mistake he never thought Amazon and Google about good investment for Berkshire. For years, he refused to invest in technology companies. His sense of good investment has made him famous in recent decades. According to the American magazine Forbes, Buffett is the world’s third-most wealthy man with about $ 85 billion. He has been at Berkshire Hathaway since 1965.

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