FIRST AIRED: May 7, 2018

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Transcript

00:00:00
>> Warren Buffet's big weekend might be over, but the billionaire investor was still moving markets on Monday. Buffet once again bashing BitCoin, saying on CNBC that the cryptocurrency thrives on mystique and little else. Sending the price down as much as 4.5% in trading monday. Reuters's Trevor Hunnicutt is on the story.
00:00:22
>> Warren Buffett told investors today that they should stay away from Bitcoin. He said that the cryptocurrency makes no sense as an investment and that it relies only on speculation, meaning looking for somebody else who's more stupid than you to buy it from you. and he prefers things like Apple, where they're selling a product and you can see what it cost them to make the product and then what their intrinsic value is.
00:00:47
>> The iPhone kind of stands out to me.>> And prefers might be putting it lightly. The investor heaping praise on Apple Monday, saying quote, I'd love to own 100% of it. Buffet support igniting another rally in the shares. Apple stocks surpassing $185 for the first time.