Bill Gates, Warren Buffet and Charlie Munger are all bearish on BTC with one even saying he is inclined to short it.
"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," Gates said. "I would short it if there was an easy way to do it." -Bill Gates Monday, May 7, 2018 while on CNBC.
""When you're buying nonproductive assets, all you're counting on is the next person is going to pay you more because they're even more excited about another next person coming along" - Warren Buffet on a weekend interview with CNBC . Buffet added that he had no reason to shill apple, unlike btc bag holders which are totally reliant on shilling, because no matter what apple would buy back shares and increase his percent stake the worlds most valuable business. Finally, over the weekend, Buffet also said bitcoin was most likely "rat poison squared" however I personally have no idea what he meant by this (maybe its a really strong form of rat poison??)
Lastly, Buffet's number 2, Charlie Munger said over the weekend that trading in bitcoin is "just dementia"...lol
Anyways, there you have it boys and girls, an interesting weekend indeed...It will be interesting to see where this all goes and how it plays out.
Please, share your thoughts on these or any other news items you may deem relevant in the comments below.
Thank you and have a great day,
Red Boar
www.cnbc.com/2018/05...gates-criticism.html
www.cnbc.com/2018/05...-poison-squared.html
"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," Gates said. "I would short it if there was an easy way to do it." -Bill Gates Monday, May 7, 2018 while on CNBC.
""When you're buying nonproductive assets, all you're counting on is the next person is going to pay you more because they're even more excited about another next person coming along" - Warren Buffet on a weekend interview with CNBC . Buffet added that he had no reason to shill apple, unlike btc bag holders which are totally reliant on shilling, because no matter what apple would buy back shares and increase his percent stake the worlds most valuable business. Finally, over the weekend, Buffet also said bitcoin was most likely "rat poison squared" however I personally have no idea what he meant by this (maybe its a really strong form of rat poison??)
Lastly, Buffet's number 2, Charlie Munger said over the weekend that trading in bitcoin is "just dementia"...lol
Anyways, there you have it boys and girls, an interesting weekend indeed...It will be interesting to see where this all goes and how it plays out.
Please, share your thoughts on these or any other news items you may deem relevant in the comments below.
Thank you and have a great day,
Red Boar
www.cnbc.com/2018/05...gates-criticism.html
www.cnbc.com/2018/05...-poison-squared.html