Bitcoin survives billionaire's hate-filled rant

Bitcoin survives billionaire's hate-filled rant

Published at: 2018-02-15 10:51 | Author: CIJ Journal
Just when you thought it was safe to call Bitcoin a bust, the cryptocurrency goes and pulls a 9 percent gain out of its hat to hit its highest point in ten days. That may not sound like a long time, but the past month has seemed like an eternity to traders involved in the future of digital finance. Bitcoin's price crashed following the theft of millions of dollars worth of the theoretical currency at the same time as governments regulatory hawks circled above their prey, waiting for the right time to strike. But a floor was reached in the $6,000 and has since climbed above what CNBC described as the "psychologically key" $9,000 level.

The currency's revival will not have come as welcome news to the billionaire Charles Munger, whose enormous influence in the world of finance does not seem to mirrored by an ability to keep up with modern trends. The 94-year old, who is vice chairman at Warren Buffet's Berkshire Hathaway, doesn't simply refuse to invest in Bitcoin...he hates it. Passionately. “I never considered for one second having anything to do with it. I detested it the moment it was raised,” Munger said on Wednesday in almost comical comments reported by his media company, Daily Journal Corp. “It’s just disgusting. Bitcoin is noxious poison.”

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