On Monday, we have three billionaires - all of whom are models for whole groups of people, hitting Bitcoin with bitter remarks. @Flodner reported on how Berkshire Hathaway’s Buffett (net worth $83.5 billion according to Forbes) confirmed his position about the largest cryptocurrency by market cap – it has no intrinsic value, the financial guru says. Charles Munger ($1.7 billion) went even further – he said Bitcoin was immoral.
“Suppose you could make a lot of money trading freshly harvested baby brains. Would you do it?” he asked. “To me bitcoin is almost as bad.”
Now here we have freshly harvested baby brains on one side, and Bitcoin on the other side – isn’t it weird that you find no links?
Anyway, Bill Gates ($91.5 billion) didn’t touch upon Bitcoin’s morality, but he told CNBC that he would short it if he could.
“As an asset class, you're not producing anything and so you shouldn't expect it to go up. It's kind of a pure 'greater fool theory' type of investment,” Gates stated.
"I agree I would short it if there was an easy way to do it," he added.
However, Gates said that blockchain was a genuine technology.
On a side note, those who want to short Bitcoin can do it by trading Bitcoin futures on CME or CBOE’s exchange. And yes, it’s an easy way to short BTC, including for Gates.