Bitcoin price up 5800% since Warren Buffett said it was useless!
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Answer Bitcoin price up 5800% since Warren Buffett said it was useless!
It’s been eight years since legendary investor Warren Buffett first rejected Bitcoin.
Exactly on March 3, 2014, Buffett, nicknamed the “Oracle of Omaha,” claimed that Bitcoin was not a currency in an interview with CNBC.
Buffett also predicted the demise of the largest cryptocurrency, and stated at the time:
It is not a currency.
I wouldn’t be surprised if it didn’t exist in the next 10-20 years.
Since then, Bitcoin, the king of cryptocurrencies, has risen nearly 5800%.
When billionaire “Buffett” criticized Bitcoin for the first time, the price of Bitcoin was estimated at $ 678 (8 years ago).
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Over the years, the head of Berkshire Hathaway has made several scathing comments about Bitcoin, becoming one of the toughest critics of it.
In May 2018, a prominent American investor called Bitcoin “square rat poison,” a particularly scathing comment that angered the entire crypto community at the time.
As we mentioned earlier on Bitcoin Arabs, Buffett’s right-hand man, Charlie Munger, is also a critic of Bitcoin as he recently compared Bitcoin to venereal disease, emphasizing his call for a complete ban of cryptocurrencies.
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