American business magnate Warren Buffett has managed to outperform Bitcoin over the last five years
American business magnate Warren Buffett has managed to outperform Bitcoin, the world’s biggest cryptocurrency, over the last five years.
The stock of Berkshire Hathaway (BRK) has added 65% during the aforementioned period of time. In the meantime, Bitcoin is only up a mere 48%.
The price of the largest cryptocurrency has collapsed by more than 76% from its record peak of $69,000 which was achieved last November.
Buffett has been one of the staunchest critics of Bitcoin. In 2018, he famously said that the largest cryptocurrency was “rat poison squared.” The following year, he opined that it was a delusion that only attracted charlatans.
The 92-year-old investor hasn’t changed his stance on Bitcoin after all these years. In late April, Buffett said that he would refuse to buy every single Bitcoin in existence for as little as $25 if he had such a chance.
The “Oracle of Omaha” has been among the richest people in the world for decades. According to the Bloomberg Billionaire Index, his current net worth is estimated to be $109 billion, which puts the American investor in sixth place.
Earlier this month, Buffett’s old crypto warning went viral on social media following the sudden collapse of the FTX exchange, which was a key player in the crypto space.