Buffett's 'Rat Poison' Warning Fails to Deter Bitcoin's Explosive Growth
Warren Buffett's infamous description of Bitcoin as 'rat poison squared' has been remembered for years, but it seems his bearish view didn't deter investors. In fact, since he made that comment in May 2018, Bitcoin has skyrocketed over 750%. At the time, Buffett called it 'rat poison', and his long-time partner Charlie Munger echoed a similar sentiment, calling Bitcoin a 'financial product invented out of thin air' and saying it's useful to kidnappers and extortionists.
Buffett reiterated his bearish view in 2021 at Berkshire Hathaway's annual meeting, where he declined to answer a question about Bitcoin. Meanwhile, the price of Bitcoin continued to rise, reaching an all-time high of over $126,000 in October 2025 after US President Donald Trump expressed support for the cryptocurrency.
The recent surge in interest has pushed Bitcoin prices above $84,000, but it's hard not to remember the warnings from Buffett and Munger. While they may have been wrong about Bitcoin's future, their views on its value remain a topic of discussion among investors.