Elon Musk mocks legendary investor Warren Buffett’s attack on Bitcoin as price drops and additional signals of support for Dogecoin 2022-05-01 05:25:09



Billionaire Elon Musk mocks legendary investor Warren Buffett after Berkshire Hathaway

CEO Attacks Bitcoin Again – In A Week As ‘Bitcoin Jesus’ Returned To The Public Domain And He named the top “contenders” for the title of world’s dominant cryptocurrency.

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Musk replied, “Haha, he says ‘bitcoin’ so many times,” clip From the famous value investor on Twitter

Crypto-backed venture capitalist Mark Andreessen shared as “wild” that Buffett could attack bitcoin “while wiping his diabetes out” — a reference to Buffett surrounding himself with boxes of See’s candy on stage.

Warren Buffett and his right-hand man, Charlie Munger, vice president of Berkshire Hathaway, used the company’s annual shareholder meeting on Saturday to repeat their well-known mockery of bitcoin and cryptocurrency.

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“whether [the bitcoin price] Explaining his longstanding hatred of bitcoin because it doesn’t produce anything tangible — unlike businesses or property, Buffett said. The bitcoin price has struggled in recent months, dropping about 40% from an all-time high of about $70,000 per bitcoin.

“If you told me you had all the bitcoin in the world and offered it to me for $25, I wouldn’t take it because what would I do with it? I would have to somehow sell it back to you. You wouldn’t do anything.”

Meanwhile, Munger told a Berkshire Hathaway shareholder meeting, sometimes calling the Woodstock capitalists, “In my life, I try to avoid things that are stupid, evil, and make me look bad…and bitcoin does all three.”

Buffett and Munger have previously criticized bitcoin, cryptocurrencies and the recent boom in Robinhood-fueled stock market trading, which they have likened to a casino.

The bitcoin and cryptocurrency community has responded to Buffett’s criticism of bitcoin with its own hatred. Last month, liberal tech investor Peter Thiel described Bitcoin as “enemy number one” during a reckless sermon against what he called a “financial aging government” that was looking to ban cryptocurrencies from the mainstream during a bitcoin conference in Miami last month. Til Buffett described him as “a sociopathic grandfather from Omaha”.

Meanwhile, Musk continued to point out his support for bitcoin rival dogecoin, a meme-based cryptocurrency that has skyrocketed on the cryptocurrency charts last year thanks to support from Musk and other big-name investors. The Dogecoin price has lost a lot of ground since its highs in May 2021, however, it has collapsed around 80%.

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“Not a bad idea,” Musk replied On Twitter to Dogecoin co-founder Billy Marcus, who in turn expressed support for a proposal by popular investor Mark Cuban to use dogecoin to authenticate Twitter users and reduce the amount of bot-driven spam on the site.

We add an optimistic show to the Cuban Doji Spread. “Everyone puts one dog down to get unlimited shares. If anyone challenges a post and humans confirm it is spam, they will get a spammer’s dawg. Spammers have to post 100 times as many spam messages. If these are not spam In them, the contestant loses a doge.”

Dogecoin price has increased somewhat over the past month, breaching recent lows thanks to Musk’s successful move to make Twitter private. Dogecoin

Traders are betting that Musk could integrate dogecoin, the “favorite” cryptocurrency, into Twitter after coming up with the idea of ​​letting users pay for Twitter’s premium services with dogecoin.