World’s fourth richest man Warren Buffet has recently faced a backlash for “underestimating” the economic impact of the latest pandemic, the coronavirus (COVID-19).
Crypto-currency expert and Bitcoin investor, Pierre Rochard recently slammed Buffet for not paying much-needed attention to the impending impact of the crisis, stating that his insurance contracts are currently weak as a result and the BTC is a safer investment than his Berkshire company.
Warren Buffet’s comments
The latest replies can be seen as an imminent response to the 89-year old’s comment a few years ago. The business mogul and philanthropist, widely known for Berkshire Hathaway, shared his thoughts on so many issues in an interview with CNBC back in 2018 on how the US stock markets have fallen to new lows and how it has also rebounded.
However, Berkshire Hathaway has already made its name as one of the most trusted and profitable insurance companies in the USA, but with the current crisis crippling nearly every monetary sector, Rochard exposed the threats of the COVID-19 to Buffet’s Ohama-based company behemoth.
The company, however, still sits comfortably on a $120 billion balance sheet, but they need to cover losses is paramount. Many have seen the recent rants by Rochard as a response to the “rat poison” claims, as Buffet described Bitcoins back in 2018.
Nowhere to hide for Warren Buffet
Warren Buffet has always been known to downplay the crypto-currency with any chance he gets and it seems the new economic trend at hand, Buffet has nowhere to hide as he begins to get replies left, right and center.
Like Rochard and Pantera Capital, RT network host, Max Kieser, who is also an investor of the Bitcoin himself, states that Warren Buffet’s insurance contracts are the actual rat poison and not the BTC, which keeps gaining value with time.