It's been eight years since legendary investor Warren Buffett dismissed Bitcoin for the first time.
On March 3, 2014, the “Oracle of Omaha” claimed that Bitcoin wasn’t a currency in an interview with CNBC. Buffett also predicted the demise of the largest cryptocurrency:
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It's not a currency. I wouldn't be surprised if it wasn't around in the next 10-20 years.
The cryptocurrency king is currently up roughly 5,800 % since the billionaire criticized it for the first time. Bitcoin was changing hands at $678 eight years ago.
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In May 2018, the prominent American investor infamously called Bitcoin “rat poison squared,” a particularly scathing comment that riled up the entire cryptocurrency community back then.
As reported by U.Today, Charlie Munger, Buffett’s right-hand man, recently compared Bitcoin to “a venereal disease,” doubling down on his call to ban the cryptocurrency altogether.
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Dan Burgin
Vladislav Sopov
U.Today Editorial Team