Bitcoin is up 5,800% since Warren Buffett first rejected it


Alex Dovbnya

Legendary investor Warren Buffett’s 2014 Bitcoin prediction was horribly inaccurate, with the largest cryptocurrency still going strong eight years later

It’s been eight years since legendary investor Warren Buffett first rejected Bitcoin.

On March 3, 2014, 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:

It’s not currency. I wouldn’t be surprised if it wasn’t there in the next 10-20 years.

The cryptocurrency king is currently up about 5,800% since the billionaire first criticized him. Eight years ago, Bitcoin changed hands for $678.

During these years, the Berkshire Hathaway boss has made numerous biting comments about Bitcoin, making him one of the strictest naysayers.

In May 2018, the prominent US investor infamously called Bitcoin “rat poison squared,” a particularly scathing comment that shook the entire cryptocurrency community at the time.

As reported by U.Today, Charlie Munger, Buffett’s right-hand man, recently likened Bitcoin to “a venereal disease”, and doubled down on his call to ban the cryptocurrency altogether.

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