‘Bitcoin is a Reaction to Warren Buffet and His Crony Capitalists,’ Says Max Keiser


· May 11, 2018 · 11:00 pm

Max Keiser delivered a scathing rebuttal to Warren Buffett and Charlie Munger May 10 after the Berkshire Hathaway moguls compared Bitcoin to “rat poison” and “baby brains.”

‘Crony Capitalism’

In a fresh episode of RT’s Keiser Report, the outspoken Bitcoin bull accused Buffett and Munger of “crony capitalism.”

“Bitcoin is a reaction to Warren Buffett and his crony capitalists,” he said.

[…] They don’t want to come down from their pedestal of crony capitalism and free money from central banks to address that, so they attack crypto.

Berkshire’s elite gained considerable press coverage earlier this week after they delivered further soundbites against cryptocurrency and trading it.

Buffett, who has been open about his distaste for Bitcoin, described it as “probably rat poison squared” at an annual shareholder meeting last weekend, a comment that was widely criticized by the Bitcoin users. 

Munger, who previously said Bitcoin was “utterly assinine,” backed up his stance by asserting trading it was like “trading fresh harvested baby brains.”

“It’s antisocial, stupid and immoral,” he told Yahoo! Finance in an interview.

Bitcoin Will Go To $30k… Soon?

Keiser met Munger’s words on par, telling viewers the 94-year-old “would have the pleasure of watching Bitcoin soar past $30,000 per coin as he expires from this planet.”

While not guessing at when exactly Bitcoin’s implied jump to $30,000 would take place, Keiser has not been shy about his predictions for the cryptocurrency’s future.

In an interview with Bitcoinist last month, while also keeping quiet on timeframes, the figure of $100,000 came easily.

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“My only Bitcoin prediction is that the price will top $100,000. As far as timing, extrapolate from current trends and you get a sense of when,” he said.

Similar optimism has since surfaced from other regular Bitcoin bulls including Tom Lee, whose company Fundstrat Global Advisors this week produced research concluding mining trends will send BTC/USD to $36,000 by the end of 2019.

What do you think about Max Keiser’s reposte to Warren Buffett and Charlie Munger? Let us know in the comments section below!

Images courtesy of Shutterstock

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