After Warren Buffett once again criticized bitcoin and the cryptocurrency industry the Icelandic company Genesis Mining, which provides services in the field of cloud mining, decided to remind the famous investor that not all his judgments in the past were correct.
A co-founder of Genesis Mining Marco Krohn said on Twitter that his company has installed billboards in front of Buffett’s office, with which they tried to show that in this situation not everything is so clear.
“Warren, you said you were wrong about Google and Amazon. Maybe you are wrong about bitcoin?”
At the beginning of May Buffett and his partner from Berkshire Hathaway Charles Munger did not mince words, criticized bitcoin, called bitcoin “rat poison in the box” and reminded investors that they would be in a deplorable situation, as soon as “the euphoria will evaporate”.
A week before, Buffett said that buying bitcoin had nothing to do with investing, but rather is a speculative game each participant of which hopes that he will be able to resell the cryptocurrency at a higher price.
In response to these statements venture capitalist Fred Wilson wrote that bitcoin is a full-fledged investment, because”it feeds the decentralized infrastructure that exists on the basis of fundamental Internet protocols.”
