BITCOIN has been blasted by a billionaire who stated that cryptocurrencies will have a “bad ending” and likened BTC to “rat poison squared” during a period of healthy market growth for virtual markets.
By JOSEPH CAREY
PUBLISHED: 03:40, Mon, May 7, 2018 | UPDATED: 04:12, Mon, May 7, 2018
BitcoinGetty
Bitcoin is currently trading at $9,327.96 at the time of writing
Warren Buffett, the CEO of Berkshire Hathaway, issued the scathing verdict during a shareholders meeting in Omaha, Nebraska.
He stated: “Cryptocurrencies will come to a bad ending.
“It essentially will not deliver anything other than supposed scarcity.”
However, the comments from he billionaire come during a time Bitcoin prices are surging.
RELATED ARTICLES
Bitcoin price news: How much is BTC worth? Why is bitcoin rising to...
Ethereum price news: Has Ethereum gone up? What is the price of Eth...
The virtual money has added $2,563.48 to its value in the last month, marking a price hike of 37.9 per cent.
Bitcoin is currently trading at $9,327.96 at the time of writing.
Although the cryptocurrency has severely slumped since reaching whopping figures of almost $20,000 back in December, it appears to be pushing towards the $10,000 price mark.
Mr Buffett has not been shy about expressing his scepticism for cryptocurrencies.