• Bitcoin has risen 5,800% since Warren Buffett dismissed it for the first time

  • It’s been eight years since famed investor Warren Buffett first dismissed Bitcoin.

    In an interview with CNBC on March 3, 2014, the “Oracle of Omaha” stated that Bitcoin was not a money. Buffett also forecast the end of the world’s largest cryptocurrency:

    It is not a monetary unit. I wouldn’t be surprised if it didn’t exist in 10-20 years.

    Since the billionaire denounced it for the first time, the cryptocurrency king has risen by around 5,800 percent. Eight years ago, the price of bitcoin was $678.

    Throughout the years, the Berkshire Hathaway CEO has made a number of scathing remarks about Bitcoin, becoming one of its toughest detractors.

    In May 2018, a major American investor infamously referred to Bitcoin as “rat poison cubed,” a particularly venomous remark that enraged the whole cryptocurrency community at the time.

    Buffett’s right-hand man, Charlie Munger, recently compared Bitcoin to “a venereal illness,” reinforcing his push to outlaw cryptocurrency entirely.

    What's your reaction?