Surprise! Bitcoin is getting no love from two of the world’s wealthiest men.
“I would short if there was an easy way to do it,” Bill Gates said Monday in an interview on CNBC. Gates said he had previously received some Bitcoin as a birthday present, but sold those a few years later. “As an asset class, you’re not producing anything.”
Fellow billionaire and Gates pal Warren Buffett said the largest cryptocurrency is “probably rat poison squared” at Berkshire Hathaway Inc.’s annual shareholder meeting on Saturday.
The comments may be weighing on Bitcoin’s price as the digital asset slumps 4.2 percent at 9:30 a.m. New York time to $9,273, its first decline in four business days. Bitcoin climbed as much as 50 percent since slumping near $6,500 four weeks ago, but the rally has lost steam before crossing $10,000.