Users of the high-flying Robinhood crypto trading App have gone on a rampage. They took advantage of Warren Buffet’s woes to bankroll their Bitcoin profits. Legendary Bitcoin enthusiast and broadcaster Max Kaiser claimed Robinhood traders hand ‘stolen Warren Buffet’s money.’
Kaiser tweeted on June 8, 2020, claiming Robinhood the cryptocurrency and stock trading App had benefited from Buffet’s wrong choices. According to the RT Host, users were using profits made on Buffets’ inopportune stock sales to invest in Bitcoin. Kaiser stated:
“Robinhood App users are picking over Warren Buffett’s career corpse, booking huge profits on his mistimed stock sales, and then rolling that money into #Bitcoin.”
No Love Lost
Buffet told Berkshire Hathaway shareholders in May he had sold the entire company’s airline stock at a throwaway price. He feared the sector would not recover from the impact of the prevailing coronavirus global pandemic. However, according to the Business Insider, users of the no-commission trading App snapped up the Delta and American Airlines shares. Keiser claimes that the App users “stole” Buffet’s money “to create wealth for poor Gen Z kids.”
There’s no love lost between Keiser and Warren Buffet, who called Bitcoin “a rat poisoned square.” Keiser claimed last month that Buffet’s attitude on Bitcoin had “killed his reputation.” US President Donald Trump called out on him claiming he had made a big mistake.
Millennials Take the Lead
The Robinhood brokerage is popular with Millennials as it allows users to trade without paying fees. The thriving firm recently collected $280 million to exceed its financing goals in a recent funding round. This propelled its valuation to a whopping $8.3 billion. As per The Business Insider Robinhood traders now own more than half of the American Airline’s shares. They descended on the stocks of the embattled airline companies last May, following Buffet’s deciison.
Warren Buffet has also been criticized by Robert Kiyosaki. The renowned author of ‘Rich Dad, Poor Dad’ Faulted his dismissal of Bitcoin and gold. Keiser beliebes it’s time for Millennials and Gen Z to take the lead courtesy of the best performing digital asset.