The world’s most famous billionaire investor had some love and hate to throw around on Monday morning.
Let’s start with the hate: Buffet turned his attention to bitcoin in an interview with CNBC (via Reuters). In it, he called the cryptocurrency “rat poison squared,” noting that sellers of bitcoin thrive on the hope that they can find someone else to pay more for it. Buffet went on to liken today’s bitcoin mania to the tulip mania in 17th century Holland. As for why bitcoin has surged in price over recent years, Buffet said it’s only due to the mystique behind the cryptocurrency: “It does create a rising price, creates more buyers . . . If you don’t understand it, you get much more excited.”
But the billionaire wasn’t all negative. He also had a lot of love to give–well, to one company anyway. That company would be Apple. Buffet revealed his firm currently owns about 5% of the iPhone maker “but I’d love to own 100% of it.”
— CNBC Now (@CNBCnow) May 7, 2018