American broadcaster and well-known Bitcoin proponent Max Kaiser claimed that users of the popular Robinhood trading app had stolen Warren Buffett’s money by capitalizing on his recent losses in the airline sector. He suggested that the profits made on Buffett’s mistimed stock sales were being invested into Bitcoin.
In early May, Buffett sold all of the company’s airline stock at a huge loss, due to fears that the sector would not recover from the coronavirus pandemic. However, users of the Robinhood trading app swooped in and bought the dip, snapping up shares in both Delta and American Airlines.
With airline stock since starting to rally, Keiser took a dig at his old foe, saying that the Robinhood users had “stolen” his money “creating wealth for poor Gen Z kids.”