The Berkshire Hathaway CEO made headlines this year calling bitcoin "rat poison squared" but he has been raising red flags about crypto for five years.
A "mirage," "not a currency," and "tulips" are some of the descriptors Buffett has used for bitcoin, according to CNBC's Warren Buffett Archive.
The digital currency has dropped by roughly 70 percent since its high and is down more than 50 percent in 2018.
Billionaire investor Warren Buffett was way ahead of a loud and growing chorus of bitcoin haters, and began questioning its viability five years ago.
The Berkshire Hathaway CEO made headlines this year for calling bitcoin “rat poison squared” but he first took on the digital currency at the company’s 2013 annual shareholder meeting, according to a review of
But more recently, the digital currency has nosedived 70 percent from its high and is down roughly 50 percent this year, trading near $6,100 Wednesday, according to CoinDesk. Even with the addition of bitcoin futures in December and the new possibility to short the market, Buffett said that Berkshire will “never have a position in it.”