After Warren Buffett’s unrestricted trashing of Bitcoin and the cryptocurrency world in general, a cloud mining company called Genesis Mining took the opportunity for publicity by putting up a billboard right outside his office.
Written on the billboard is an admission by Buffett that he was wrong about Google (NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN), suggesting that he might also be wrong about Bitcoin.
https://twitter.com/mkrohn5/status/996892758299303937
The news came when Marco Krohn, co-founder of the Iceland-based cloud mining venture, took pictures of the billboards and posted them on Twitter.
At the beginning of May, Buffett and his partner Charlie Munger at Berkshire Hathaway (NYSE:BRKa) went on an all-out offensive against Bitcoin, using words like “disgusting” and “rat poison” to describe the cryptocurrency.
“Cryptocurrencies will come to a bad ending because nothing is being produced in the way of value from an asset. There is also a problem that it draws in a lot of charlatans who are trying to create exchanges or whatever it may be,” Buffett said during a conference.
Munger is far harsher against the idea of Bitcoin, having said in the past that it’s akin to “[making] a lot of money trading freshly harvested baby brains.”
These outlandish statements were setting the pair up to be trolled at some point. It was only a matter of time.
Despite the perception of Buffett and Munger, companies on Wall Street are beginning to warm up to cryptocurrency trading.
Goldman Sachs (NYSE:GS) is perhaps the most high-profile company to start up its own trading desk after making hires that indicated this was the direction it would take. The attitude began shifting late last year when both CBOE and CME released futures contracts on Bitcoin.
This article appeared first on Cryptovest
