Billionaire Warren Buffett Calls Bitcoin 'Rat Poison Squared'

07 May, 2018, 15:05 | Author: Kathy Ellis
  • Warren Buffett Buffett

"I think anybody that tells you now they think they know in some actuarial way either what (the) general experience is like in the future, or what the worst case can be, is kidding themselves", he added.

Presiding over the Berkshire Hathaway 2018 annual shareholder meeting on May 5, Buffett reiterated his negative view on the cryptocurrency, saying it is "probably rat poison squared", CNBC reports.

Now, Buffett says he wants to buy even more of the company...

Warren Buffett participates in a discussion during the White House Summit on the United State Of Women June 14, 2016 in Washington, DC.

Buffett said that the buyback program would be the most effective use of the company's cash.

Walmart to buy 73% of Flipkart in India's biggest e-commerce takeover
If the deal with Walmart goes through, it would provide Flipkart with more arsenal to go up against Amazon in the Indian market. Tech giant Google's parent company Alphabet Inc would also tag along with Walmart for an investment in Flipkart .

Apple's share price hit a record high after Buffett revealed having boosted Berkshire's already large stake in the Cupertino, California-based company to roughly 240 million shares, now worth some $44 billion (2.95 lakh crores).

Up to Friday's close, Apple stock had risen 9.8 percent since Berkshire disclosed on February 14 that it had raised its stake in the company, Reuters noted. "If you look at Apple, I think it earns nearly twice as much as the second most profitable company in the U.S".

Buffett also spoke about one of Apple's main rivals - Google - admitting it had been a mistake for Berkshire not to invest in Alphabet, its parent company, and Amazon. The comments were first reported by Reuters.

However, operating profit excluding investment and derivative gains and losses, surged 49 percent year-on-year to a record $5.29 billion. As for the current flow of deals, he said his telephone hadn't been ringing off the hook.

Recommended:

  • Adidas backs Kanye West after slavery comments

    Adidas backs Kanye West after slavery comments

    We have to deal with the marginalization that has come from the 400 years of slavery that you said for our people was a choice . After Yeezy's pro-Trump tirade last week, Snoop said that West seemed like he was in a real-life version of Get Out .
    Trump considers reducing USA  forces in South Korea

    Trump considers reducing USA forces in South Korea

    Defense Secretary Jim Mattis appeared to say the issue might be open to discussion. "We will always side with you'". North Korea will imminently release three Americans who have been imprisoned in the country, CNN is reporting.
    Deadly dust storm leaves 72 dead, 130 injured in Uttar Pradesh, Rajasthan

    Deadly dust storm leaves 72 dead, 130 injured in Uttar Pradesh, Rajasthan

    The falling trees and electric poles caused the maximum accidents, leaving nearly 100 people injured, Yadav said. Indian Premier Narendra Modi took to twitter and expressed condolences to the bereaved families.
  • Stormy Daniels tells Donald Trump to resign on Saturday Night Live

    Stormy Daniels tells Donald Trump to resign on Saturday Night Live

    But Stormy Daniels stole the show by appearing as herself and calling for Trump's resignation. Trump did not explain what Giuliani got wrong, if anything.
    Elon Musk apologizes for ignoring analyst questions in classic fashion

    Elon Musk apologizes for ignoring analyst questions in classic fashion

    The California company is still struggling to ramp up the Model 3 production, for which it has received almost 500,000 pre-orders. Wall Street analysts are closely following Tesla's progress as the company works to resolve Model 3 production delays.
    Rory McIlroy eager to cure Masters hangover

    Rory McIlroy eager to cure Masters hangover

    Tiger Woods is the main draw in an impressive field at this year's Wells Fargo Championship at Quail Hollow Club in Charlotte . Simpson was a distant second to McIlroy in 2015, while he just missed out on the play-off won by Fowler three years earlier.
  • Terre Haute to pay respects to Officer Pitts

    Terre Haute to pay respects to Officer Pitts

    We grieve, but stand ready to battle evil and understand that life is precious and shouldn't be taken for granted. State police will be handling the investigation into the officer's death, Watts said in a tweet around 8:30 p.m.
    Trump to host S.Korean President on May 22

    Trump to host S.Korean President on May 22

    At the same meeting last week , Kim also vowed to begin shutting down North Korea's nuclear test site in Punggye-ri this month. The heads of North and South Korea met on April 27 inside the Demilitarized Zone dividing the Koreas.
    Marouane Fellaini could stay with Manchester United after all

    Marouane Fellaini could stay with Manchester United after all

    Kanu won two Premier League titles, two FA Cups and a Community Shield during his time with the Gunners. By then, United was 1-0 ahead thanks to Paul Pogba's 16th-minute goal.
  • Women Sue Charlie Rose, CBS News for Sexual Harassment

    Women Sue Charlie Rose, CBS News for Sexual Harassment

    The suit alleges that Rose would also berate the three young staffers, calling them "idiots", and questioning their abilities. The newspaper also reported that CBS managers were warned of Rose's conduct at least three times over a period of 30 years.
    Ex-CBS TV anchor Charlie Rose hit with sexual harassment lawsuit

    Ex-CBS TV anchor Charlie Rose hit with sexual harassment lawsuit

    In the following three decades, three CBS managers had been made aware of the complaints, according to the Post investigation. He later offered her a job with his company, which produced "The Charlie Rose Show" which aired on Bloomberg and PBS.
    Iowa governor signs 'heartbeat' bill banning most abortions

    Iowa governor signs 'heartbeat' bill banning most abortions

    Acknowledging this, Reynolds said that her actions on Friday were "bigger than just a law", and that she will not be backing down. There had been little doubt that Reynolds, who describes herself as "100 percent pro-life", would sign the bill.


Popular

Anthony Martial pursuing Manchester United exit at the end of the season?
For Martial it's usually seen as a permanent deal, and that's the case again. It is said he can not see a future for the 22-year-old at Old Trafford .

The Mexican-Style Craft Beers Worth Trying On Cinco De Mayo
In Mexico, the commemoration of the battle continues to be mostly ceremonial, such as through military parades. The Denver Police Department will also be keeping a watch on Cinco de Mayo "cruising" along Federal Boulevard.

Palestinians Renew Violent Riots on Israel-Gaza Border
Five people were killed in an explosion on Saturday in the central Gaza Strip, according to Palestine's official news agency. Israel says it's defending its sovereign border, including nearby communities, and that soldiers only target instigators.

Apple shrugs off iPhone X fears and enjoys strong quarter
Apple also sold 9.1 million iPad tablets during the three month period, basically in-line with forecasts of 9.17 million units. In today's reported market numbers, we see iPhone X as the clear leader in smartphone sales - by a significant margin.

Mohamed Salah wins writers┬┤ footballer of the year award
Liverpool forward, Mohamed Salah , has been named the Football Writers' Association Footballer of the Year. He is also the first African to receive the award and we congratulate him on a magnificent season'.

United States stocks fall, dollar climbs late after Fed statement
Talks between Steven Mnuchin, U.S. treasury secretary and Liu He, Chinese vice premier are due to kick off later on Thursday. Likewise, the Japanese economy had enjoyed eight straight quarters of expansion, the longest such run since the 1980s.

Macron, Rouhani agree to work together to preserve 2015 Iran nuclear deal
The sapling was a gift from French President Emmanuel Macron for his state visit with US President Donald Trump last week. Australian ABC News tweeted: "Lost in translation: Emmanuel Macron thanks the PM's "delicious wife".

IRAN: Nuclear row: Tehran says Israel's Netanyahu lied
They are supposed to ensure that Iran is complying with its current obligations, and they've found over and over that it is. Both Albright and Heinonen believe the agency may decide to step up inspections based on what's in the documents.

Ford's new window can help the visually impaired "see" the road
That vibration allows the passenger to touch the scene and build the landscape in their mind that other passengers are looking at. It's called Feel the View , and it lets blind people get an idea of what's outside the vehicle window.

German Palestine Association Slams Abbas' 'Anti-Semitic' Holocaust Remarks
Meanwhile, Israeli PM Netanyahu and the US Ambassador to Israel have condemned Abbas for this antisemitic speech. The European Jewish Congress called on European officials to cease all contact with Abbas until he apologized.