Warren Buffett recently got back to belittling bitcoin and the other cryptocurrencies that have come along since he first bashed the digital asset pool four years ago.
During an interview he granted CNBC on Saturday, May 5, Buffett used harsher language than he usually does to speak to the value he sees coins having – calling crypto “probably rat poison squared.”
As he has in the past, Buffett compared cryptocurrencies to gold when the topic came up for conversation during the meeting. He has long criticized decisions to invest in such speculative assets, because he doesn’t see that they produce earnings or dividends. At one point during the convening he joked about how much gold has realistically grown in value over centuries, stating: “If you had bought gold at the time of Christ and you figure the compound rate on it, it’s a couple tenths of a percent.”
Back when bitcoin was trading at $600 in 2014, Buffett went on record to call it a “mirage.” He has continued to criticize crypto since then, posing some weeks ago that getting involved in crypto is more like gambling than investing. Meanwhile, bitcoin is edging on a trading value of $10,000 and just recently got a huge endorsement from Goldman Sachs, which is reportedly creating a bitcoin trading desk.