Bitcoin bears: As the cryptocurrency tanks, these experts are having the last laugh
Bitcoin turned 10 this year, but there’s not much to celebrate. Its valuation has tanked to new lows in 2018. It touched its 52-week low of $ 3,585 on November 25
Bitcoin has fallen 30 percent in a month, 50 percent in six months and almost 80 percent since December 2017. The continuous erosion in its price has made the world revisit the statements of skeptics who are being proven right. Here is a list of experts who had called the cryptocurrency's eventual doom:
Warren Buffett, CEO, Berkshire Hathaway Inc. and billionaire investor | October 2017 | “People get excited from big price movements, and Wall Street accommodates… You can’t value Bitcoin because it’s not a value-producing asset.” It's a “real bubble.”
Charles Munger, Vice Chairman, Berkshire Hathaway Inc. | February 2018 | “I never considered for one second having anything to do with it. I detested it the moment it was raised. It’s just disgusting. Bitcoin is noxious poison.”
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