Almost three years ago, Warren Buffett, a major traditional investor, described Bitcoin as “rat poison.”

Since then, Bitcoin has surged more than 300% and the total market capitalization of Bitcoin has outpaced the market value of Buffett’s Berkshire Hathaway.

Bitcoin or “rat poison” outperforms “Warren Buffett” company:

In 2018, Bitcoin retreated from its previous peak of $20,000.

In early May 2018, the value of Bitcoin plunged more than 50% to below $10,000.

To show a large group of slanderers and skeptics of Bitcoin and its capabilities, and among them was the name “Warren Buffett” present, as he did not hesitate to attack Bitcoin, describing it as square rat poison, and told that the cryptocurrency market as a whole would end in a tragic end.

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At the time, Class A shares in Buffett’s Berkshire Hathaway Company were trading at about $295,000.

Class B shares were just under $200.

As mentioned above, in May 2018, the bitcoin price settled at around $9,500 and the bitcoin drop coincided with Buffett’s statement that bitcoin is rat poison.

Fast forward to today, less than three years away, and compare the performance of Hathaway’s stock and Bitcoin.

Hathaway’s Class A stock “BRK A” is trading at $350,000, while Class B stock “BRK B” is trading at $233 with an average increase of 18%.

While these gains are worthy of respect.

But when we look at what has been described as “rat poison”, we find that its performance is much better, as Bitcoin has more than quadrupled its value, and increased by 341%.

In addition to outperforming Bitcoin in terms of its price it also outperformed in terms of total market capitalization.

Bitcoin far exceeded Berkshire Hathaway’s market value.

Buffett’s company currently ranks 12th with a current valuation of $550 billion, while Bitcoin has a market capitalization of $744 billion at the time of writing.

Read:Ethereum (ETH) total market capitalization outperforms MasterCard and Bank of America

Time has shown that Buffett’s statements about Bitcoin are 100% wrong, and they also prove that Buffett is good at traditional companies and not at the crypto market.

In a sarcastic comment by Max Keizer, a supporter of cryptocurrency, he stated: to sourceincluding:

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Bitcoin is rat poison and Warren Buffett is rat.

He added:

Buffett is an excellent example of someone who lives almost entirely on state handouts.

His company has been bailed out three times by taxpayers, and without those grants, Hathaway’s company would have fallen long ago.

Buffett is challenging Bitcoin because it threatens the financial system it feeds on.

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