Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Bitcoin is “turd” to Munger & “rat poison” to Buffett

Bitcoin is “turd” to Munger & “rat poison” to Buffett

Kelly Cromley by Kelly Cromley
May 8, 2018
in Ethereum News, News
Reading Time: 2 mins read
0

Legendary investor Warren Buffett, an outspoken critic of Bitcoin and other cryptocurrencies, slammed Bitcoin once again during Berkshire Hathaway’s annual meeting. Billionaire Buffett, who is the CEO of Berkshire, told the audience that Bitcoin is “probably a rat poison squared.” His long-term friend and partner Charlie Munger also took the opportunity to convey his harsh views about the first cryptocurrency created using distributed ledger technology.

Buffett, also known as the Oracle of Omaha, stated that Bitcoin is not a productive asset like corporate shares or land, and has no intrinsic value. Furthermore, Buffett said demand from investors is the only factor that determines the price that makes it a breeding ground for “charlatans” who are just there to scam and rip off unsuspicious investors.

According to Buffett, investors are trying to get rich by doing something they don’t really understand. He affirmed his previous stance about Bitcoin by saying the cryptocurrency market will have a “bad ending,” once the “euphoria ears off.”

The 94 year old Munger, vice chairman of Berkshire, took a much more tough stance against Bitcoin. Munger said

“I like cryptocurrencies a lot less than you do. To me, it’s just dementia. It’s like somebody else is trading turds and you decide you can’t be left out.”

Earlier this year, Munger had called Bitcoin “totally asinine” and “noxious poison.” He is also of the opinion that only those want easy money invest in cryptocurrencies.

Buffett had criticized Bitcoin numerous times. He recently said that buying Bitcoin or any other cryptocurrency is not investing. Ironically, when Buffett was asked whether he will go short in Bitcoin, he acknowledged that he may get into trouble as he known nothing about cryptocurrencies. He made the following statement at that time

“In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending. If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it but I would never short a dime’s worth.”

Not surprisingly, Munger does not have a good opinion about gold as well. Back in 2010, Munger said “I don’t have the slightest interest in gold. I don’t see how you become rational hoarding gold. Even if it works you’re a jerk.”

According to Munger’s calculations, an investment of $10,000 in the S&P back in 1942 would have yielded $51 million. However, if the same amount had been invested in gold, it would have generated returns of only $400,000.

Previous Post

IOTA, Porsche Collaborate For Startup Autobahn

Next Post

Aion – ePIC Blockchain Partnership to Accelerate Equihash Processing

Related Posts

chainbase

Chainbase Launches Token C to Power Decentralized Data Access

by Kelly Cromley
Jul 14, 2025
0

Chainbase, the entity behind the Hyperdata Network, has formally introduced its native token, known as C, in a move that...

artgis partners with hashepoch

ArtGis and HashEpoch Unite to Revolutionize Web3 Sports Finance

by Kelly Cromley
Jul 14, 2025
0

ArtGis Finance and HashEpoch have entered into a strategic collaboration, signaling a significant step forward in the integration of digital...

Binance Offers $250,000 For Information Leading To Arrest Of Hackers

Binance Launches Sharia-Compliant Crypto Staking Service

by Kelly Cromley
Jul 14, 2025
0

Binance has unveiled a new investment solution tailored to meet the principles of Islamic finance, aiming to serve a growing...

AEON

AEON Pay Expands into Nigeria with Seamless Crypto Payments

by Kelly Cromley
Jul 14, 2025
0

AEON, a Web3-focused cryptocurrency payment infrastructure, has officially extended its mobile payment service, AEON Pay, into the Nigerian market. This...

filecoin partners with theoriq

Filecoin Teams Up with Theoriq to Boost Web3 AI Agents

by Kelly Cromley
Jul 14, 2025
0

A new collaboration between Filecoin and Theoriq is set to reshape how users interact with Web3 infrastructure. Filecoin, recognized for...

Caffeine AI

Caffeine Empowers Web3 App Creation Through Natural Language

by Kelly Cromley
Jul 14, 2025
0

Caffeine, an innovative platform built on the Internet Computer (ICP) blockchain, is reshaping the landscape of decentralized application (dApp) development...

Next Post
Aion - ePIC Blockchain Partnership to Accelerate Equihash Processing

Aion - ePIC Blockchain Partnership to Accelerate Equihash Processing

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Hyper Foundation Launched to Boost Hyperliquid Blockchain Development

    by Kelly Cromley
    Oct 15, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025

Recent News

chainbase
Market News

Chainbase Launches Token C to Power Decentralized Data Access

by Kelly Cromley
Jul 14, 2025
artgis partners with hashepoch
Market News

ArtGis and HashEpoch Unite to Revolutionize Web3 Sports Finance

by Kelly Cromley
Jul 14, 2025
Binance Offers $250,000 For Information Leading To Arrest Of Hackers
Market News

Binance Launches Sharia-Compliant Crypto Staking Service

by Kelly Cromley
Jul 14, 2025
AEON
Market News

AEON Pay Expands into Nigeria with Seamless Crypto Payments

by Kelly Cromley
Jul 14, 2025
filecoin partners with theoriq
Market News

Filecoin Teams Up with Theoriq to Boost Web3 AI Agents

by Kelly Cromley
Jul 14, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree