‘A Real Bubble’: Billionaire Warren Buffett Doubles Down on Bitcoin Doubt
Billionaire investor and Berkshire Hathaway CEO Warren Buffett said bitcoin's price is in a bubble during a question-and-answer session this month.
To no one's surprise, the bitcoin community hit back at the Berkshire Hathaway executives comments.
Shares of Berkshire Hathaway are up 50.5% in the last 52 weeks. The price of bitcoin is up better than 500% in that same time period.
The investment is part of a G Series funding round carried out in January.
The 97-year-old vice chairman of Berkshire Hathaway said buying bitcoin is "the pursuit of the uneatable by the unspeakable."
Bitcoin is beating stocks this year, but it's also crushing the shares of Berkshire Hathaway, whose billionaire CEO said in February that the cryptocurrency had "no value."