Buffett Makes Bad Call on Crypto with “Rat Poison” Remark

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Martin Weiss, founder of Weiss Ratings and Weiss Cryptocurrency Ratings, today disputed Warren Buffett’s extremely negative comments regarding cryptocurrencies made Saturday at Berkshire Hathaway’s 2018 shareholder meeting.

Weiss explains that cryptocurrencies can have significant value on three levels

Martin Weiss, founder of Weiss Ratings and Weiss Cryptocurrency Ratings, today disputed Warren Buffett’s extremely negative comments regarding cryptocurrencies made Saturday at Berkshire Hathaway’s 2018 shareholder meeting.

Buffett said Bitcoin is probably “rat poison squared,” creating nothing of value. Weiss countered, pointing out that “many well-respected investment and financial experts seem to underestimate the tremendous benefits cryptocurrencies can provide in terms of speed, security and decentralization.”

Weiss explains that cryptocurrencies can have significant value on three levels:

1.     Intrinsic value: With many of the advanced cryptocurrencies, investors and users effectively gain a share of a major Distributed Ledger Technology (DLT) platform, with great computing power around the world.

2.     Exchange value: This is already a proven quantity and is bound to grow as cryptocurrencies are more widely used in an expanding range of transactions -- both in exchange for traditional currency and for goods or services.

3.     Monetary system: Select cryptocurrencies could become the basis for a new digital monetary system with the potential to be more stable and less subject to manipulation by governments. https://weisscryptocurrencyratings.com/news/blockchain-can-restore-normalcy-world-gone-mad-part-2-620.

For more information or to arrange an interview, contact joy(at)cambridgestrategicpartners(dot)com or 202-302-5932.

About Weiss Ratings: Weiss Ratings covers 55,000 institutions and investments and is the only financial rating agency that provides grades on cryptocurrencies. It accepts no compensation of any kind from issuers or sponsors. Its sole revenue source is from the sale of ratings and research to consumers, investors and other end users. Weiss Ratings has been praised by Members of Congress, the Government Accountability Office (GAO) and news organizations https://weissratings.com/why-weiss-ratings for its objective analysis of financial institutions and investments.

Contact: Joy Howell, 202-302-5932 (cell)
Joy(at)cambridgestrategicpartners(dot)com

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