Bill Gates and Warren Buffet Still Among Bitcoin's Harshest Critics

RTS15F0W

RTS15F0W

As Tyler has noted and explained in the tweet above, it is in fact "easy" to short Bitcoin.

Buffett, the CEO of Berkshire Hathaway, has been a bitcoin bear for years.

The Bitcoin price isn't doing as well as we anticipated moving through the weekend, falling back to $9300 after reaching close to $10000 - and Warren Buffett and Bill Gates are not fans of the investment opportunity. While Buffett's billionaire buddy Bill Gates probably won't be picking up an iPhone anytime soon, either, the Microsoft co-founder is also heaping a bit of praise on his one-time tech adversary.

"It's kind of a pure "greater fool theory" type of investment", Gates added, also chipping in that he'd bet against the currency if he could. He went on to advise investors to invest in the stock market rather than gambling with Bitcoins or any other cryptocurrency.

When asked by another attendee about the cryptocurrency craze, Buffett admits that these digitalized coins will "come to bad endings".

Deciding exactly what is impacting the price of Bitcoin at any time is no science. While speaking to CNBC at a summit, the twins said the negativity these Wall Street personalities show is a "failure of imagination" and that they are too old to understand.

Strangely enough, that was not the most extreme comment reserved for cryptocurrency at the recent Berkshire Hathaway annual meeting.

However, in December, two regulated United States exchanges - CBOE and CME - launched conventional bitcoin futures products, enabling bulls and bears alike to stake out their bitcoin positions in a secure marketplace. What Buffett means is that if you purchase bitcoin, you will never be able to produce anything of value from it. Bitcoin and other digital currencies are just digital codes, hence, they are susceptible to fluctuation depending on the unreliable options of the trading stock of everyone.

Legendary investor Warren Buffett's portfolio won't be scooping up shares of insurers that underwrite cyber insurance.

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