From Nasdaq: 2024-04-23 08:52:22

Warren Buffett, a renowned investor, focuses on value investing, buying stocks below their intrinsic value, and long-term holding. Despite his success, Buffett is critical of Bitcoin, calling it “rat poison squared” and predicting a bad ending for cryptocurrencies in general.

Bitcoin, currently valued around $66,000, has surged in 2024, outperforming major indexes like the S&P 500. Some experts, like Anthony Scaramucci and Cathie Wood, predict significant growth for Bitcoin, contrasting Buffett’s skepticism due to its divergence from his traditional investment approach.

Buffett’s Berkshire Hathaway has invested in a Bitcoin-related fintech company but remains skeptical of the cryptocurrency’s value. While Buffett acknowledges the lure of quick riches in crypto, he adheres to his tried-and-true investment strategy, cautioning against the allure of easy money in volatile assets like Bitcoin.

Read more at Nasdaq: Warren Buffett Predicts ‘Bad Ending’ for Bitcoin — Is It a Doomed Investment?