|
Buffett bashes bitcoin as
nonproductive, thriving on mystique
Send a link to a friend
[May 07, 2018]
NEW YORK (Reuters) -
Billionaire investor Warren Buffett on Monday said
buyers of bitcoin, which he characterizes as "rat poison
squared", thrive on the hope they'll find someone else
who will pay more for it. |
Warren Buffett, CEO of Berkshire Hathaway Inc, pauses
while playing bridge as part of the company annual
meeting weekend in Omaha, Nebraska U.S. May 6, 2018.
REUTERS/Rick Wilking |
|
Likening bitcoin demand to tulip mania in 17th century Holland,
Buffett, chairman and CEO of Berkshire Hathaway Inc, said the
mystique behind the cryptocurrency has produced a surge in its
price.
"It does create a rising price, creates more buyers... If you
don't understand it, you get much more excited," Buffett said on
CNBC television.
(Reporting By Jennifer Ablan and Jonathan Stempel; Editing by
Hugh Lawson)
[© 2018 Thomson Reuters. All rights
reserved.] Copyright 2018 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
 |
|
|
