As the price of bitcoin continues to fall, Elon Musk mocks legendary investor Warren Buffett's attack on it—and signals that the price will continue to fall.

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As the price of bitcoin continues to fall, Elon Musk mocks legendary investor Warren Buffett's attack on it—and signals that the price will continue to fall.

 Tesla is supported by Dogecoin. TSLBillionaire Elon Musk insulted Warren Buffett after the Berkshire Hathaway BRK.Achief executive again attacked bitcoin—during a week in which "bitcoin Jesus" returned to the public realm and listed his top "contenders" for the title of the world's preeminent cryptocurrency.

"Haha, he says 'bitcoin' so many times," Musk said in response to a video of Buffett attacking bitcoin on Twitter TWTR, which was shared by crypto-backed venture capitalist Marc Andreessen, who called it "wild" that Buffett can attack bitcoin "while nakedly shilling diabetes"—referring to Buffett surrounding himself on stage with boxes of See's Candies.

Warren Buffett and Berkshire Hathaway vice chairman Charlie Munger both used the company's annual shareholder meeting on Saturday to restate their well-known criticisms of bitcoin and cryptocurrencies.

"I don't know if [the bitcoin price] goes up or down in the next year, five or ten years," Buffett remarked, explaining his lengthy aversion to bitcoin since it doesn't produce anything substantial, unlike companies or real estate. In recent months, the bitcoin price has faltered, plummeting over 40% from its all-time high of about $70,000 per bitcoin.

"I wouldn't take it if you told me you had all of the bitcoin in the world and offered it to me for $25 because I wouldn't know what to do with it. In any case, I'd have to sell it back to you. It's not going to make a difference."

"In my life, I try to avoid things that are dumb and nasty and make me seem awful," Munger said during Berkshire Hathaway's shareholder meeting, which is commonly referred to as "Woodstock for capitalists."

Buffett and Munger have already spoken out against bitcoin, cryptocurrencies, and the current Robinhood-fueled stock market trading boom, which they have compared to a casino.

The bitcoin and crypto community has retaliated against Buffett's condemnation of bitcoin with its own venom. During a diatribe against what he termed a "financial gerontocracy" that was trying to keep cryptocurrencies out of the mainstream at a bitcoin conference in Miami last month, libertarian tech investor Peter Thiel referred to Buffett as bitcoin's "enemy number one." Buffett has been dubbed a "sociopathic grandfather from Omaha" by Thiel.

Meanwhile, Musk has continued to express his support for bitcoin competitor dogecoin, a meme-based cryptocurrency that soared up the crypto charts last year due to Musk and other big-name investors. However, the price of dogecoin has plummeted by nearly 80% since its May 2021 highs.

"Not a terrible idea," Musk commented on Twitter to dogecoin co-creator Billy Markus, who had expressed support for celebrity investor Mark Cuban's offer to use dogecoin to verify Twitter users and decrease bot-driven spam on the platform.

Cuban wrote, "We add an optimistic roll up to doge." "For limitless postings, everyone puts up one doge. If a message is challenged and humans affirm it is spam, the contestant receives the spammer's doge. The spammer must post 100 times more doge. The contestant loses their doge if it isn't spam."

Thanks to Musk's successful attempt to take Twitter private, the dogecoin price has risen somewhat in the previous month, bouncing off recent lows. DOGEtraders believe Musk would incorporate dogecoin, his "preferred" cryptocurrency, into Twitter after he proposed allowing users to pay for premium Twitter services using dogecoin.





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