Even after Bitcoin tanked in recent months and is now trading lower by over 50 percent from the top, Bill Gates stated that he would short the cryptocurrency.

At Berkshire Hathaway's 2018 Annual Shareholders Meeting over the weekend, Buffett called cyber "unchartered territory" and said the fall-out and business risks from cyber-attacks are "going to get worse, not better". He said: "As a class of asset, you aren't producing anything so you should not just expect it to go up". So Buffett says anyone buying bitcoin is betting that someone else will pay more for it later.

Tyler Winklevoss, the cofounder of crypto exchange Gemini, is telling Bill Gates to put his money where his mouth is after the billionaire said he would short bitcoin if he easily could.


Berkshire vice chairman Charlie Munger said to Buffett during the meeting, "I like cryptocurrencies a lot less than you do".

Gates as well as many other critics of the cryptocurrency are very negative about the extreme volatility of the cryptocurrency market. "It's kind of a pure "greater fool theory" type of investment...[I would short Bitcoin] if there was an easy way to do it".

Bill Gates has now jumped on the same bandwagon, referring to them as "crazier, speculative things".


Bill Gates is not the first important figure that talks negatively about cryptocurrencies in general. Bill Gates has a strong opposition to bitcoin, as well as other digital currencies, that the only involvement he had with it resulted from a birthday gift - which he even sold a couple of years after.

Are you still a Bitcoin believer? While both Buffett and Munger have been consistent in their criticism of bitcoin, Gates' recent comment shows a change in his opinion on the cryptocurrency.

He additionally responded to a query from the viewers about bitcoin by saying that it and different crytpocurrencies "will come to unhealthy endings". This is still good news for Bitcoin investors as this price is still an approximate 25% gain over the past month.


Related news:

Share this:

Hot News

isis-killer-beheading-video-story-top West Virginia GOP candidate says McConnell created jobs for 'China people'
May 08, 2018 - 02:19
Fox Information politics editor joins "The Story" with response to the West Virginia GOP Senate main debate. Senate. "This idea that I called somebody a China person, I mean I'm an American person", Blankenship said.

isis-killer-beheading-video-story-top Cresswell urges West Ham to forget poor form
May 08, 2018 - 02:09
I want a team which plays at a level you'd expect. 'All of the video games now are huge, ' Moyes added. West Ham scored their second goal in the 64th minute and it was a strike worthy of settling any match.

isis-killer-beheading-video-story-top Baker Mayfield Struggled Doing This During Browns' Minicamp
May 08, 2018 - 02:06
From the very beginning, obviously, my immediate family, then the friends and coaches and people who have helped shape me. I'm still going to compete and try and win that job. "Right now, we are trying to get back to that".

isis-killer-beheading-video-story-top Jose Mourinho approves Anthony Martial move to Juventus
May 07, 2018 - 15:05
And one player that has not impressed Mourinho is Martial, who has endured an inconsistent campaign. Mourinho is set to overhaul his side in a dramatic shape up of United's squad.

isis-killer-beheading-video-story-top Billionaire Warren Buffett Calls Bitcoin 'Rat Poison Squared'
May 07, 2018 - 15:03
A day after acquiring the shares, Buffett said the iPhone maker should spend more cash buying its own shares. "I'm delighted to see them repurchasing shares", Buffett said .

isis-killer-beheading-video-story-top Suspect Who Shot Pakistan's Minister Had Links To Religious Party
May 07, 2018 - 15:03
Iqbal was shot soon after addressing voters in Kanjroor village in Narowal but the exact circumstances were not immediately clear. Considered the brains behind the party's development agenda, he previously headed up the planning ministry.

isis-killer-beheading-video-story-top Instagram quietly launches payments feature
May 07, 2018 - 15:02
Furthermore, users will not only be able to make one-on-one calls and also engage in group conversations. At present, the "Resy" feature is only available for selected users in the United States and UK.

isis-killer-beheading-video-story-top Bank Holiday Monday is set to be hottest in 20 years
May 07, 2018 - 15:01
The warmest weather is expected from Sunday as winds swing round to blow in from the continent rather than the Atlantic. Met Office forecasters say early fog patches will soon clear to leave another dry, warm and sunny day in the region.

isis-killer-beheading-video-story-top Chelsea keep top four hopes alive with crucial win over Liverpool
May 07, 2018 - 01:06
Thibaut Courtois will be looking to bring his A-game in front of goal, with Liverpool's attack likely to test the Belgian. Liverpool will take on holders Real Madrid in their eighth European Cup final appearance on May 26 in Kiev.

isis-killer-beheading-video-story-top Five killed by Gaza Strip blast: Palestinian Ministry of Health
May 06, 2018 - 00:15
Trump's moves angered Palestinian leaders, who have refused to talk to his administration, accusing it of pro-Israel bias. Israel has already been facing global disapproval over its use of live fire against the protestors.

isis-killer-beheading-video-story-top New York Yankees 2B Gleyber Torres cracks 1st Major League Baseball home run
May 06, 2018 - 00:12
The Yankees negotiated a deal to get Torres' ball while they beat the Indians, 7-6, at Yankee Stadium on Friday night. Rookie Gleyber Torres drove in the tying run with a base hit and Aaron Judge delivered the tiebreaking run.

isis-killer-beheading-video-story-top NEW Cinco de Mayo Celebrations Today
May 06, 2018 - 00:11
Law enforcement agencies in Southern California will be out in force Saturday looking for impaired drivers on Cinco de Mayo . While the holiday's roots are in Mexico, it's actually a minor holiday there and is celebrated much more in the U.S.

isis-killer-beheading-video-story-top Most abortions banned in Iowa as governor signs 'heartbeat bill'
May 06, 2018 - 00:11
Iowa Governor Kim Reynolds has signed a six-week abortion ban into law, marking the strictest abortion regulation in the nation. A bill that would ban almost all abortions in Iowa cleared the House late Tuesday night and the Senate early Wednesday morning.

isis-killer-beheading-video-story-top Tesla ETFs Up Despite Musk's 'Bonehead' Tweet
May 06, 2018 - 00:05
Short-sellers look for profit by selling borrowed shares with the hope of purchasing them back later at a smaller price. First, Musk stated that the two analysts he opted to ignore were attempting to justify their Tesla short thesis.

isis-killer-beheading-video-story-top Non-farm payrolls: United States jobs grow at slower-than-expected rate
May 06, 2018 - 00:04
The "all jobs" year-over-year percentage change is now +1.6%, with services at +1.7% and manufacturing, +2.0%. For workers, that means higher wages, and the April numbers were actually a bit disappointing on that front.