- Bitcoin mining company, Genesis Mining, claims to have installed billboard trolling Warren Buffet.
- Buffet compared bitcoin to ‘rat poison squared’ earlier this month.
- This troll was in part of bitcoin advocacy campaign led by the mining company.
A cryptocurrency mining company, Genesis Mining has launched a bitcoin advocacy campaign supporting bitcoin and other cryptocurrencies and spreading awareness on it. This came into limelight after the company’s co-founder tweeted on the same erecting billboards outside the office of billionaire Warren Buffet.
Buffet was trolled to remind him he was wrong about Google and Amazon in their early days, so he could be probably wrong about bitcoin as well. The Billboard reads:
Warren: You said you were wrong about Google and Amazon. Maybe you are wrong about Bitcoin.
The erection of billboard near to the Omaha office of Warren Buffet stems out of his continuous skeptical comment on bitcoin and other cryptos in public attention. Buffet is one of the top business tycoons and world’s best-known investor and people take his investment advice very seriously.
After his public dismissal and bashing on the bitcoin and cryptocurrency on annual Berkshire Hathaway annual general meeting, there is an outburst of condemnation among crypto believers and enthusiasts who are still optimistic about bitcoin future.
In the same annual meeting, he asked his fellow investors to stay away from bitcoin investment, mentioning it as ‘rat poison squared’.
It doesn’t end here, his bashing comments on bitcoin started way back from 2014, when pointed it as ‘Mirage’. Last October, he mentioned bitcoin market as a bubble and believed it will come to a bad ending.
Buffet’s statement has provoked many reactions and tweets. Recently, a tokenized marketplace, Ecoinmerce launched T-shirt and hats of ‘ rat poison squared’ design logo.
Genesis Mining responded with a billboard and blog post:
“Someone with a trusted opinion in their industry expresses their negative views and, because of their expert status, others trust their opinions.
If you dig a little deeper, however, that industry expert’s bias becomes clear. The technology they are bashing, if proven to live up to its potential, could potentially undermine everything that person has built their success on. Why did Western Union hate the telephone? Maybe because it would disrupt their telegraph business.”
Warren Buffet is not the only investor who is against bitcoin and other cryptocurrencies. His views were supported and echoed by Berkshire Hathaway’s Vice Chairman Charlie Munger.
Clearly, we can understand why this campaign started off from Berkshire Hathaway’s office in Omaha.
Technology Is NOT Buffet’s ‘circle of competence’
Tech venture capitalist, Chamath Palihapitiya, who claims himself to be ‘Disciple’ of Buffet, said Buffet is wrong about bitcoin and knowledge about technology is not in his ‘circle of competence’.
Genesis co-founder, Marco Krohn posted on Twitter with photos of billboards with a message for ‘Oracle of Omaha’ saying “Some new billboards outside of Warren Buffetts office! :)”
Buffet is well known to be a savvy investor, but there were many occasions when his intuition for tech-based investment was wrong. During the annual shareholder meeting in 2017, Buffet had admitted he “blew it” on not investing in Amazon stock, when it was trading worth $995. “I was too dumb to realize what was going to happen,” Buffett said. “I’ve admired Jeff (Bezos), and I’ve admired him for a long, long time. But I did not think he was going to succeed on the scale that he has.”
Let’s see if this trolling will be successful for bitcoin by gaining support from Warren Buffet. What do you think about it. Comment below