Bill Gates Warning To All Bitcoin Investors

Bill Gates Warning To All Bitcoin Investors

When asked by another attendee about the cryptocurrency craze, Buffett admits that these digitalized coins will "come to bad endings".

Charlie Munger, Warren Buffet, and Bill Gates, three staunch anti-Bitcoiner's, have shocked no one by talking negatively about cryptocurrencies. Though virtual currencies are just nothing more than insane investments, according to Gates, like other cryptocurrency skeptics he still believes that blockchain itself as a separate technology can be rather useful.

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"It's an unbelievable company", Gates said on CNBC Monday, in an interview at the Berkshire Hathaway shareholder meeting.

Famed fund manager Warren Buffett added his two bitcoins' worth as well, also telling CNBC in a separate interview that bitcoin is "probably rat poison squared". "It's kind of a pure "greater fool theory" type of investment", Gates shared speaking during CNBC's show "Squawk Box". Or have you moved onto other digital currencies? "As an asset class, you're not producing anything". She recently said in an interview that she is bullish on cryptocurrencies. Read our report to find market data, important news and stocks to watch!

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Bitcoin had been closing in on $10,000, however it fell practically 6% Sunday and was down one other 2% Monday to only over $9,300.

"If people react when you criticise their investment, if they get mad, they're gambling..." As new news breeds new news, Gemini Exchange's Tyler Winklevoss has now dared Bill Gates to short bitcoin. Matthew Frankel owns shares of Berkshire Hathaway (B shares) and has no position in any cryptocurrencies mentioned.

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He said investors now are much better off owning US stocks, whose prices are elevated but not in a "bubble", and it would take a "nanosecond" for him to choose stocks over 10- or 30-year USA government bonds now yielding around 3 percent. "To me, it's just dementia". According to Munger: "Somebody else is trading turds, and then you decide I cat be left out". Traders aren't giving any importance to the concept of fair value when it comes to investing in digital currencies. But I do think the idea of a more globalized payment mechanism that is more efficient than what we have today allows for money to transfer across countries and certainly supports the Internet economy.

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