Bitcoin [BTC]’s critics, Warren Buffet and Jamie Dimon, reiterate warning

In a morning news and talk program hosted by CNBC, Warren Buffet, one of the world’s most successful investors, and Jamie Dimon, the CEO of JP Morgan Chase, were drawn into talking about Bitcoin.

Dimon said last September that those “stupid enough to buy” Bitcoin will one day pay the price. Warren Buffett has not pulled any punches either, in the past. In May, at Berkshire’s annual shareholder’s meet, Buffett said that Bitcoin is “probably rat poison squared.”

The anchor, Becky Quick, drew attention to their past scruffs with Bitcoin and asked, “Which of you hates Bitcoin more?”

Buffett wittily replied:

“I set a high standard, I don’t know if Jamie can top me or not.”

Jamie refused to be drawn into the quagmire and simply said, “Just beware.”

The morning talk program was primarily Buffett and Dimon’s joint effort to convince CEOs to end quarterly profit forecasts.

Buffett has been the Chairman and largest shareholder of Berkshire Hathaway since 1970 and is referred to by the media as ‘Sage’ or ‘Oracle’ of Omaha. He is known for his personal frugality despite his immense wealth. Among his many noteworthy practices, one heartwarming story is his founding of ‘The Giving Pledge’, where billionaires pledge to give away at least half their wealth.

He actively contributes to political causes and had also endorsed the Democratic candidate Hillary Clinton for the 2016 US Presidential Elections. He has also publicly opposed the policies, actions, and statements of the current U.S. president, Donald Trump.

Jamie Dimon, JP Morgan Chase’s CEO, is listed in Time magazine’s 2006, 2008, 2009, and 2011 lists of the world’s 100 most influential people. He has a $485 million stake in JP Morgan and is one of the few bank chiefs to enter the club of billionaires.

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