One Word Warning

(June 26, 2018) JPMorgan Chase CEO Jamie Dimon joined #Berkshire Hathaway Chairman Warren Buffett for a CNBC interview on their call for companies to stop issuing short-term earnings forecasts. While noting a few months before that blockchain technology could be useful, Dimon had called bitcoin a “fraud,” a comment he later said he regretted. On... Continue Reading →

Speculation on Bitcoin

(May 5, 2018) Just before appearing before thousands of shareholders at the 2018 Berkshire annual meeting on May 5, CNBC’s Becky Quick tweeted that Warren Buffett told her bitcoin is “probably rat poison squared,” one-upping his partner Charlie Munger who had called it simply “rat poison.” Warren Buffett and Charlie Munger didn’t use those words... Continue Reading →

Separate Science from Speculation

(May 5, 2018) When Charlie Munger and Bill Gates join the May 5 “Squawk Box” conversation, bitcoin comes up again. While admitting it’s “clever computer science,” Munger argues cryptocurrencies are “worthless artificial gold” that facilitates “illicit activity.” Gates acknowledges the underlying blockchain technology is a “good thing,” but thinks the price gains are being driven... Continue Reading →

Mob Borrowing of Bitcoin

(May 5, 2018) A few minutes later in the same “Squawk Box” interview, Buffett explained why he thinks some proponents get angry when cryptocurrencies are criticized.

Heading to a Bad Ending

(January 10, 2018) Late in 2017, bitcoin topped out a spectacular year-long rally by hitting almost $18,000 on December 15. It then fell sharply from that high. On “Squawk Box” a few weeks later, Buffett was still staying far away from cryptocurrencies.

Bitcoin is a Mirage

(May 5, 2014) A few days later, Buffett was back on “Squawk Box,” appearing with Quicken Loans Founder and Chairman Dan Gilbert to promote an NCAA basketball tournament bracket contest they were sponsoring. Gilbert asked Berkshire Hathaway Chairman Warren Buffett about bitcoin.

Bitcoin is not a Currency

(May 3, 2014) The following year, Berkshire Hathaway Chairman Warren Buffett still doesn’t see a long-term future for bitcoin. Appearing on CNBC’s “Squawk Box” in March, he says he wouldn’t be surprised if it doesn’t exist after 10 or 20 years. Around that time, the price of one bitcoin ranged between $450 and $700.

No Confidence in Bitcoin

(May 4, 2013) A few minutes later in the same “Squawk Box” interview, Berkshire Hathaway CEO Warren Buffett explained why he thinks some proponents get angry when cryptocurrencies are criticized. As far back as the 2013 annual meeting, Warren Buffett and Charlie Munger have their doubts that the then four-year-old digital currency bitcoin would ever... Continue Reading →

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