Bitcoin falls after billionaires Bill Gates and Warren Buffett say this

Elon Musk and Warren Buffet trolling each other over Candy

By design, Bitcoin price and other cryptocurrencies like it are very hard to anticipate in terms of value. To the crypto enthusiasts, these people are only spreading FUD, vestiges of the system that blockchain is created to disrupt. Speaking during a CNBC program on April 5, both men shared their thoughts on bitcoin. Berkshire Hathaway owns See's sweets. He said: "As a class of asset, you aren't producing anything so you should not just expect it to go up". If this description is accurate, then bitcoin is a bubble. "It does create a rising price, creates more buyers ..." "People like to speculate, they like to gamble". Gates stated someone gave a bitcoin for his birthday to him but it was sold by him.

Though virtual currencies are just nothing more than insane investments, according to Gates, like other cryptocurrency skeptics he still believes that blockchain itself as a separate technology can be rather useful.

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His tweet also tagged Berkshire Hathaway Warren Buffett, who - along with Gates, who sits on the company's board of directors - was in Omaha, Nebraska for the firm's annual shareholders meeting. After a long list of negative criticisms leveled at the number cryptocurrency by Buffet, this is the latest. Clearly, there are now a number of easy ways to short Bitcoin and several other crypto enthusiasts have responded to Gates' comments as well. The old-school duo called Bitcoin "rat poison" and "turd" earlier during the event. Munger also believes that the United States ought to emulate China in banning cryptos completely.

Gates, retired from his Microsoft role, now works with another cryptocurrency critic, legendary investor Warren Buffett. Before Bill Gates, he dared Jamie Dimon, the CEO of JPMorgan Chase to short bitcoin when he said bitcoin was a fraud. The cryptocurrency had been on a steady rise in the past three weeks, nearly reaching the $10,000 mark before slipping to $9,200 on May 6.

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