Friday, 6 July 2018

"Rat poison squared": Buffett, Gates take aim at bitcoin


Bitcoin climbed as much as 50 per cent since slumping near $US6,500 four weeks ago, but the rally has lost steam before crossing $US10,000.

Speculation that US regulators are meeting today to discuss whether Ethereum, the second-largest cryptocurrency, is a security, may also be limiting demand for cryptocurrencies.

Ether is down almost 6 per cent, and other large digital coins, like Litecoin and Ripple’s XRP, are slumping too.

Buffett is echoing the words of his business partner Charles Munger, who in 2014 also compared Bitcoin to rat poison.



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