Buffett and Munger bashes bitcoin as thriving on mystique, favours stocks

NEW YORK (Reuters) – Billionaire investor Warren Buffett on Monday said buyers of bitcoin, which he has characterized as “rat poison squared,” thrive on the hope they’ll find other people who will pay more for it ( Nick Bit:like every stock trader) Likening bitcoin demand to the tulip bulb mania in 17th century Holland, Buffett, the chairman and chief executive of Berkshire Hathaway Inc, said the mystique behind the cryptocurrency has caused its price to surge. “If you don’t understand it, you get much more excited,” Buffett said on CNBC television. “People like to speculate, they like to gamble.”He said investors now are much better off owning U.S. stocks, whose prices are elevated but not in a “bubble,” and it would take a “nanosecond” for him to choose stocks over 10- or 30-year U.S. government bonds now yielding around 3 percent. Charlie Munger, Buffett’s longtime business partner and a Berkshire vice chairman, is also no bitcoin fan, describing it as “worthless artificial gold.” He likened it to Oscar Wilde’s definition of fox hunting, calling it “the pursuit of the uneatable by the unspeakable.”  Nick Bit: I call bit coin bankers worse nightmare. Especially who’s desks specialize  trading in artificial and often time worthless money like:  gold,  Chili peso, Argentine Peso (cashing as we speak). The reason why i like Bitcoin s because its digital artificial gold. I know how to trade gold and i know how to trade bit coin. And i have traded the shit out of gold, silver platinum palladium and many currencies that ended up worthless: Mexican peso. Brazilian Real,  Russian Rubel, Riel Cambodia, Guarani Paraguay, Guinean Franc, Rupia Indonesia, Rial Iran, Dong Vietnam. and as we speak i see the Argentian Peso wipe out again shorting all the way. Why is not Charlie corking off on these wipeouts “rat poison” for far far far more money then the swings in Bit coin.  Maybe because the bankers insiders have something to fear about digital rat poison that is going to wipe out Visa, Mater card, American express, Western Union and maybe Pay Pal if they don’t wise up fast…….  Full Disclosure one of the largest issuers of visa and master card cards and debt is Wells scum bag rob your costumers Fargo and Charlie and Warren are their biggest shareholders.