Bill Gates says he'd bet against Bitcoin

On Saturday tens of thousands of Berkshire Hathaway shareholders attended the annual Berkshire Hathaway shareholders meeting

And while he said there's some "very good technology" associated with the endeavor, he called Bitcoin and ICOs (initial coin offering) "one of the crazier speculative things". Quoting Buffett, the Reuters report suggested that the billionaire was not at all fond of Bitcoins.

Through the assembly itself, Buffett joked that "should you had purchased gold on the time of Christ and you work the compound charge on it, it is a couple tenths of a p.c".

"I would short it if there was an easy way to do it", Gates told CNBC's Squawk Box Monday in an interview alongside Munger and Buffett. At a time when Bitcoins and other cryptocurrencies have witnessed a gradual decline after last year's high, Buffett suggested that buyers of Bitcoin "thrive on hope" that they will find other people who pay more for it.

In the meantime, Bitcoin fell by over 3% on Monday to a little over $9,000.

Interestingly enough, Berkshire Hathaway vice chairman Charlie Munger had an even more jarring take on cryptocurrency, categorizing the hype surrounding it as akin to "dementia".

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It's certainly possible, then that Warren Buffett and Bill Gates may be wrong on Bitcoin price - and we've seen already that the currencies can explode in value. "It is like anyone else is buying and selling turds and also you determine you possibly can't be disregarded".

CME Group, the world's leading financial market firm, also launched its own Bitcoin futures contracts on December 17th, 2017.

Furthermore, Bitcoin could go on another bull run this week.

"What I do find monumentally baffling is that two of the world's most successful investors can not see the intrinsic value of some form of cryptocurrency", Nigel Green, CEO of financial consulting firm deVere Group, wrote in a report early Monday. Bitcoin and other digital currencies are just digital codes, hence, they are susceptible to fluctuation depending on the unreliable options of the trading stock of everyone.

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