Bill Gates reveals himself as one of Bitcoin's harshest critics


Bill Gates reveals himself as one of Bitcoin's harshest critics

"If you look at Apple, I think it earns nearly twice as much as the second-most profitable company in the US", Buffett told CNBC.

On the subject of ICOs, he considers them to be speculations of a insane variety.

He told CNBC television: "It does create a rising price, creates more buyers ..."

After Buffett's and Gates' criticisms on bitcoin, prices of cryptocurrencies experienced a drop on Tuesday, Yahoo! He likened it to Oscar Wilde's definition of fox hunting, calling it "the pursuit of the uneatable by the unspeakable".

Most recently, during the Berkshire Hathaway shareholder annual meeting on Saturday, May 5 Buffett seemed not to shift positions when it comes to investing in the asset.

Warren Buffett, the CEO of Bekshire Hathaway, and the third richest man in the U.S. and the world has always been very critical about Bitcoin and cryptocurrencies. In other words, stocks can generate profits from their business, farms produce crops, etc. Bitcoin (BTC-USD) and other cryptocurrencies, for that matter, are therefore only valuable because of investor interest.

"This campaign marks a turning point by expressing how we are fundamentally a different company today, and that it feels like a new day at Wells Fargo", CEO Sloan said in a statement.

Are you a techie who knows how to write? In an interview with CNBC, gates said Bitcoin and other cryptocurrencies are "kind of a pure "greater fool theory" type of investment", he said Monday on CNBC's "Squawk Box".

Buffett renewed his desire to spend some of Berkshire's low-yielding cash on a major acquisition.

"If a $100 billion deal came along that Charlie and I really liked, we'd get it done", he said.

The new stake, coupled with the firm's 165.3 million shares already owned, brings Buffett's total Apple holdings to 240.3 million.

Munger, meanwhile, said Berkshire may have been "a little too restrained" in buying Apple, saying "it's reasonably priced and strong". "It's the consumer behavior with the product, what they do with it, how it becomes part of their lives, that I observe and primarily reason from", Buffett said.

But the most important and shocking thing he said was that he would short it.



© 2015 Leader Call. All Rights reserved.