BITCOIN IS 'RAT POISON': WARREN BUFFETT

The entrepreneur says that investors would fare much better if they bet on US stocks.


NEW YORK - On Monday, Warren Buffett said that the buyers of Bitcoins - which he called "Rat Poison" - are thriving on the hope that they will find other people who will pay more for them.

After comparing the demand for Bitcoins with the tulip fever that Holland lived in the seventeenth century, Buffett, president and chief executive of the conglomerate Berkshire Hathaway Inc, said the mystique behind the Cryptocurrency caused its price increase, according to a Reuters report.

"Create a price increase, create more buyers. If you do not understand, you get much more excited," Buffett said on CNBC television. "People like to speculate, they like to bet."
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