Crypto Community Encourages Warren Buffett to Better Educate Himself

Billionaire investor Warren Buffett has drawn the ire of the cryptocurrency community with a recent claim that Bitcoin is "Rat poison squared." Buffett's statements, made at the 2018 Berkshire Hathaway annual shareholder meeting on May 5, led to a direct response from venture capitalist Fred Wilson and resulted in the installation of pro-Bitcoin billboards outside of Buffett's Omaha office.

Buffett has previously stated that purchasing cryptocurrency is a "Game" and a "Gamble," and doesn't produce anything.

"Cryptocurrencies will come to bad endings."

The 87-year-old business magnate's perspective on cryptocurrency captured the attention of venture capitalist and Union Square Ventures co-founder Fred Wilson, who responded to Buffet at the recent Consensus 2018 conference.

Buffett's statements on cryptocurrency were brought up on day three of Consensus during a discussion between Wilson and Coinbase CTO Balaji Srinivasan.

Wilson published a response to Buffett on his blog earlier in May, stating that Buffett doesn't know how to value the key benefit of cryptocurrencies - crypto-assets produce decentralized infrastructure.

Wilson's open letter isn't the only response to Buffett's anti-crypto statements.

Some new billboards outside of Warren Buffetts office! 🙂#GenesisMining #Bitcoin #BitcoinAwareness pic.

Krohn's billboards refer to Buffett's recent admission that he was "Wrong on Google and Amazon." The Genesis co-founder currently helps run the Genesis mining operation in Iceland, one of the world's largest crypto-mining centers.

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