Warren Buffett is a legend in finance circles, and one of the most successful investors of all time. With that said, however, Buffett is not a fan of Bitcoin, and is critical to the premier cryptocurrency’s success. Now, Max Kaiser claims that Buffett is “killing his reputation” through his harsh comments on Bitcoin.
Warren Buffett is a notorious crypto critic
Those keeping an eye on the cryptocurrency market will know that Buffett is a notorious Bitcoin critic. Specifically, he has said that Bitcoin is “worse than rat poison” and claims it lacks any intrinsic value. Moreover, Buffett also suggests the premier cryptocurrency “attracts charlatans”.
Many financial market analysts have cast doubt on Buffett’s claims that Bitcoin lacks an intrinsic value. After all, the market gives any asset – oil, gold or Bitcoin – a price that the market decides is fair.
Many claim that it is no different if people and traders choose to value a democratic and accessible digital currency than if they choose to value gold. With that said, however, the well-known Bitcoin bull Max Keiser is now throwing his hat into the ring.
Buffett is “killing his reputation by being stupid about Bitcoin”
Particularly, Keiser argues that Buffett’s anti-crypto stance could hurt the investor’s image. In fact, Keiser posits that this has already happened, with Buffett making “stupid” comments regarding Bitcoin.
“Now that Buffett is out of the game and stock buybacks are rightly being called out as fraudulent, investors will ask… If Buffett was dead wrong about so much, was he also wrong about #Bitcoin and Gold? ANSWER: YES. Buffett killed his reputation by being stupid about BTC.”
Has Buffett lost his touch?
This all comes as Buffett’s investment company Berkshire Hathaway is reeling from a recent $50 billion loss. Moreover, Buffett has had to acknowledge that some of his recent investments were erroneous, such as his investment in the airline sector.
Keiser also suggests that it could be time to leave Buffett “in the past”. Moreover, Keiser notes that Buffett did not understand Apple or Amazon until it was “too late”, and does not appreciate neither gold nor Bitcoin. As such, he states it’s “time for millennials and generation Z”.
“Time to move past Buffett. He was already way overrated. He missed #Bitcoin, Gold, Apple (way, way too late), Amazon (ditto), etc. His numbers have sucked for awhile. Millennials and GenZ, this is your time.”
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the blockchain industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.