'Rat poison': Bitcoin's value drops after a billionaire slams it

Winklevoss Gemini Ethereum Ether

Billionaire and Microsoft founder Bill Gates is very skeptic about the cryptocurrency and says that he would like to bet against Bitcoin if he had such an opportunity.

"I like cryptocurrencies rather a lot lower than you do", Munger mentioned to Buffett.

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.

One of the biggest names in the list of billionaire investors Warren Buffett is not particularly fond of bitcoin or the new digital era currency that took the world by storm previous year.

Warren Buffett's got some free time these days, on account of his " Billionaire investor Warren Buffett on Monday said buyers of bitcoin, which he has characterized as "rat poison squared", thrive on the hope they'll find other people who will pay more for it.... "There is an easy way to short bitcoin", Winklevoss said. "You can short #XBT, the @CBOE Bitcoin (USD) Futures contract, and put your money where your mouth is!"

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I like cryptocurrency even less than Warren does.to me it's just dementia.
"It is like anyone else is buying and selling turds and also you determine you possibly can't be disregarded".

Winklevoss along with also his brother Cameron had $1 1 million in bitcoin at $120 a coin in April 2013. On the shareholder assembly of The Day by day Journal (DJCO), a newspaper writer in Los Angeles the place Munger serves as chairman, he known as it "noxious".

Winklevoss, a noted bitcoin bull, runs the Gemini exchange together with his brother Cameron.

He first called bitcoin a "mirage" in 2014 - back when it was trading for about $600.

He said investors now are much better off owning USA 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 US government bonds now yielding around 3 percent. "I think that anybody that tells you now they think they know in some actuarial way either what [the] general experience is like in the future, or what the worst case can be, is kidding themselves".

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