Bitcoin has risen 350% since "Warren Buffett" described it as "rat poison"
Almost three years ago, Mr. Warren Buffett - who is considered a major traditional investor - described Bitcoin as a "rat poison."
Since then, Bitcoin has risen by more than 300%, and the total market value of Bitcoin has outpaced the market value of "Berkshire Hathaway", which Buffett runs.
Bitcoin or "rat poison" outperformed "Warren Buffett":
In 2018, Bitcoin retreated from its previous achieved peak of $ 20,000.
In early May 2018, Bitcoin's value fell by more than 50%, bringing its price to under $ 10,000.
A large group of shamans and skeptics of Bitcoin and its potential appeared, and among them the name "Warren Buffett" was present, as he did not hesitate to attack Bitcoin, describing it as a square rat poison, and was told that the cryptocurrency market as a whole would end tragically.
At that time, Class A shares in Berkshire Hathaway, a company run by Buffett, were trading for about $ 295,000.
Class B shares were just under $ 200.
As we mentioned above, the Bitcoin price stabilized in May 2018 at around $ 9,500 and the decline of Bitcoin coincided with Buffett's statement that Bitcoin is a rat poison.
Fast forward to the present day, meaning less than three years later, and compare the performance of Hathaway's shares with Bitcoin.
Class A shares of Hathaway "BRK A" are trading at $ 350,000, while Class B shares of "BRK B" are trading at $ 233, with an average increase of 18%.
While these gains are worthy of respect.
But when looking at what has been described as "rat poison", we find that its performance is much better, as Bitcoin has more than quadrupled its value and increased by 341%.
In addition to being outperformed, Bitcoin is also outperformed in terms of overall market capitalization.
Bitcoin has far surpassed Berkshire Hathaway's market value.
Buffett currently ranks 12th with a current valuation of $ 550 billion, while Bitcoin has a market cap of $ 744 billion at the time of writing this article.
Buffett’s statements about Bitcoin have shown that the time is 100% wrong and also proves that Buffett is skilled at traditional companies and not at the crypto market.
And in a sarcastic comment by "Max Keizer", a supporter of digital currencies, he stated to the source, including:
Bitcoin is rat poison and Warren Buffett is the rat.
he added:
Buffett is an excellent example of someone who lives almost entirely on state aid.
His company has been rescued three times by taxpayers, and without those grants, Hathaway would have fallen long ago.
Buffett challenges Bitcoin as it threatens the financial system from which it feeds.