Bitcoin pulls back from $10K; Buffett, Munger, and Gates hammer away

Bill Gates, the founder of Microsoft and the world's second richest person trash talked Bitcoin in an interview with CNBC.

Berkshire Hathaway (NYSE:BRK-A) (NYSE:BRK-B) recently held its annual meeting, and not surprisingly, CEO and Chairman Warren Buffett and Vice Chairman Charlie Munger didn't exactly have kind words to say about bitcoin (BTC-USD) and other cryptocurrencies.

Additionally, Zhao Changpeng, the CEO of cryptocurrency exchange company Binance, said, "Warren Buffett is a guy I truly respect from an investment point of view, but I do not think he understands cryptocurrencies at all".

Still, Buffett sees them as largely speculative assets.

Buffett instead said investors would have better chances investing in United States stocks. He likened it to Oscar Wilde's definition of fox hunting, calling it "the pursuit of the uneatable by the unspeakable".

Buffett, the chairman and chief executive of Berkshire Hathaway (NYSE:BRK.A), chalked up bitcoin's popularity to people simply being interested in its mysterious emergence in the investment space.

EA's Anthem out March 2019, more Battle Royale hints for Battlefield 5
Today, EA revealed the release date of both titles, along with other games, so it's time to prepare for what's coming. This is likely in reference to the Anthem beta tests that were previously confirmed by game director Jonathan Warner.


Buffett said their promotions have been "very, very good" for the company.

"It's buying something because you expect the pool of people who want to buy it because they want to sell it to somebody else, will grow".

Like other cryptocurrency bears, Bill Gates conceded that blockchain, the technology behind bitcoin, can be very useful but said virtual currencies are nothing more than insane, speculative investments.

Buffett renewed his desire to spend some of Berkshire's low-yielding cash on a major acquisition.

"I agree I would short it if there was an easy way to do it", he said.... Berkshire's initial investment in Apple was small, suggesting it was made by one of Buffett's deputies, but with the latest purchase it has grown to a solid 240.3m shares worth $42.5bn. We're more concerned with what effect it all has on GPU pricing. "We have operated in this country with the wind in the stern", said Buffett. He said choosing the CEO will be "by far the most hard decision we will make".

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Consumer price index climbs 0.2% in April
Energy costs, which had fallen for two months, edged up 0.1 percent in April, although gasoline costs fell 0.4 percent. The Fed last week left its key interest rate unchanged while noting that inflation is nearing its optimal goal.

GDPR may make some users more likely to share their data
Users can choose to permanently delete specific activities, or days of activity that they do not want connected to their account. Google announced a number of updates across its platforms that will help it comply with the upcoming EU GDPR regulations.

Raptors open off-season of uncertainty by firing coach Casey
Assistants Nick Nurse and Rex Kalamian, and G League coach Jerry Stackhouse were listed as possible candidates to take over. Hopefully, they are given the chance to stick around, given the clear improvements made by so much of the roster.

Trump hails capture of 5 most-wanted IS leaders
Five senior Islamic State (ISIS) leaders have been captured in a sting operation orchestrated by American and Iraqi intelligence. The two Iraqi intelligence officials spoke on condition of anonymity to discuss details that had not been made public.

Bank of England likely to delay rate hike as economy slows
He added: 'However, the Bank is also anxious that the underlying pace of economic growth may have in fact waned so far this year. But afterwards it fell to trade 0.2% lower on the day at $1.3521, not far above a four-month low of $1.3485 hit on Tuesday.

New Prostate Screening Guidelines
That's because prostate cancer grows slowly and over-treatment can cause impotence and incontinence. Men 55 and older may not need to bother with prostate cancer screenings.

Joe Russo Shoots Down Hulk Theory, Offers Surprisingly Deep Explanation — INFINITY WAR
I don't know that the Hulk is ever ... he's had his a** kicked before, and he loves a good fight. The number of recognizable people who die in " Infinity War " is staggering.

Apple selling streaming subscriptions through its TV app
Instead of the live TV service, Apple launched the TV app in 2016, pulling together content from existing apps. Nobody knows how Apple is going to own original programming works will factor into the subscription service.

Paul George Undergoes Knee Surgery, Out 6-8 Weeks
Neal ElAttrache with Thunder medical personnel present at the Kerlan-Jobe Orthopaedic Clinic in Los Angeles, Calif. George, who missed one game with knee soreness in December, is expected to be sidelined six to eight weeks.

Things We Learned From Black Panther's Blu-ray Special Features
One that sounds out, though, is how respected and fierce women are portrayed to be in the film. The women in my life are awesome and I want to make films that capture that".

Teenager detained, 1 injured after shooting at Highland High in Palmdale
Highland High student Katharina Smith, 16, said she was driving to the school when she saw "a ton of police racing toward school". A shooting at Highland High School in Palmdale Friday left a student wounded and a former student in custody, authorities said.

Boston Dynamics' Evil-Looking Robots Now Run, Jump, and Climb
Atlas last year achieved the ability to backflip last year in November, and in a few months' time it has turned into a pro jogger. Ready, set, go! The future is becoming clearer and we have humanoid robot, Atlas , created by Boston Dynamic , to thank for it.

Fortnite's Dancing, Trolling Thanos Gets Inserted Into Marvel Movie Scenes
He's free to play in Fortnite Battle Royale , so it's best to enjoy him while he's still around. PUBG had over 1.3 million of their most concurrent players on Steam.

Australian Government Allocates $700000 To Blockchain Study
The initiative was cited in an consultation paper with the previous research done by the country related to blockchain and its future potential as a Digital Economy initiative solution.

So you found a tick. You're anxious about Lyme disease. Now what?
Walk in the center of trails to avoid contact with overgrown grass, brush and leaf litter at trail edges. Spring also brings in beauty and fun-but also, outdoor annoyances.


More News

News
More News