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Gemini's Tyler Winklevoss informs Bill Gates that actually he can short bitcoin

Gemini's Tyler Winklevoss informs Bill Gates that actually he can short bitcoin

"I'm delighted to see them repurchasing shares", Buffett said, just two days after he revealed having bought 75 million additional Apple shares, and four days after Apple said it may repurchase $100 billion of stock.

One of the biggest names in the list of billionaire investors Warren Buffett is not particularly fond of bitcoin or the new digital era currency that took the world by storm a year ago.

He told the journalists: "As an asset class, you're not producing anything and so you shouldn't expect it to go up".

Buffett called Bitcoin "rat poison squared", while Munger said that trading cryptocurrencies is akin to having "dementia".

Early bitcoin investor Tyler Winklevoss tweeted back in invoice Gates to explain howto bet contrary to the cryptocurrency, immediately after the Micro-Soft co-founder said he would brief it whether he could. "People like to speculate, they like to gamble". So Buffett says anyone buying bitcoin is betting that someone else will pay more for it later.

By design, Bitcoin price and other cryptocurrencies like it are very hard to anticipate in terms of value.

He classified this kind of investment as a "greater fool theory" investment.

In December 2017, when the crypto market reached record-level highs Bitcoin futures qere launched.

Though virtual currencies are just nothing more than insane investments, according to Gates, like other cryptocurrency skeptics he still believes that blockchain itself as a separate technology can be rather useful. However, Warren Buffett believes the entire space is one big sham and not worth all the hype.

Gates, retired from his Microsoft role, now works with another cryptocurrency critic, legendary investor Warren Buffett.

He additionally responded to a query from the viewers about bitcoin by saying that it and different crytpocurrencies "will come to unhealthy endings".

The negative comments might be temporarily slowing down the growth in bitcoin prices.