"I agree I'd brief it if there was a very simple solution to doit", he explained.
Gates, too, weighed in on the issue on Monday, telling CNBC that bitcoin is "one of the crazier, speculative things" he's seen, saying he would "short it if there was an easy way to do it". Apparently, the master of investment was a little harsher in terms of criticism than the Microsoft co-founder.
Some of the wealthiest men in the world have continually been critics of bitcoin and cryptocurrencies in general. His concerns regarding Bitcoin price also stem from a security standpoint with concerns that the anonymity and lack of traceability of the currency may contribute to funding illegal activities - stating it has "caused deaths in a fairly direct way". "It's kind of a pure "greater fool theory" type of investment", he said.
Buffett's company, Berkshire Hathaway, is the biggest shareholder in Wells Fargo, which has been mired in scandal for more than a year. "It does create a rising price, creates more buyers ..."
However, in December, two regulated U.S. exchanges - CBOE and CME - launched conventional bitcoin futures products, enabling bulls and bears alike to stake out their bitcoin positions in a secure marketplace.
When asked by another attendee about the cryptocurrency craze, Buffett admits that these digitalized coins will "come to bad endings". Buffett went on to compare Bitcoin with rat poison, revealing his disgust for the entire digital currency trade.
This is not the first time Bill Gates criticised cryptocurrencies.
Though virtual currencies are just nothing more than insane investments, according to Gates, like other cryptocurrency skeptics he still believes that blockchain itself as a separate technology can be rather useful. The continued expectation of regulation is also believed to have prevented bitcoin crossing the US$10,000 mark.