Warren Buffett And Bill Gates Denounce Bitcoin

Warren Buffet

We own 5 percent of it.

Billionaire investor Warren Buffett has dubbed Bitcoin "rat poison", despite admitting that he doesn't understand how to use his iPhone. And it's an incredible ecosystem that they've found ways to profit more from as they've gone along.

"If people think they're going to make money, it just draws people in".

Yet Charlie Munger, Buffett's longtime business partner and a Berkshire vice chairman, suggested that Democrats could take over Congress after November's elections and push for a national healthcare system financed by a single payer. He likened it to Oscar Wilde's definition of fox hunting, calling it "the pursuit of the uneatable by the unspeakable".

Apple's stock has been further boosted by news that Warren Buffett has endorsed Apple wholeheartedly, telling CNBC that he would love to hold 100 percent stock of Apple.

Buffett said the goal was to challenge the entire healthcare industry, not individual segments.

Buffett doesn't plan to retire, but he likely invited more discussion of his eventual replacement earlier this year when he promoted Greg Abel and Ajit Jain to vice chairmen and expanded their responsibilities.

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Berkshire Hathaway shareholders have approved expanding the company's board to 14 to promote two company executives to new vice chairmen jobs.

Berkshire Hathaway saw its cash balance reach $108 billion in the first-quarter. His company now has a 5% stake in Apple worth around $11 billion. "And I'll get to it". Buffett hasn't become an avid Apple user just yet, joking that the iPhone isn't the most important form of technology in his own personal life.

Munger, meanwhile, said Berkshire may have been "a little too restrained" in buying Apple, saying "it's reasonably priced and strong".

"In terms of cryptocurrencies, generally, I can say with nearly certainty that they will come to a bad ending", Buffett explained.

Buffett also said the list of CEO candidates has been "narrowed down" for the healthcare venture between Berkshire, Amazon.com and JPMorgan Chase.

The other rejected measure would have encouraged more Berkshire subsidiaries to produce sustainability reports.

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