Retailers Should Stay Away From Cryptocurrency

Law360 (June 13, 2019, 3:59 PM EDT) -- Warren Buffett, perhaps the most celebrated investor ever known, refers to bitcoin as “rat poison squared.” But bitcoin is worse than rat poison — it is more akin to the plague and mayhem that rats can spread if not properly contained.

Now, the bitcoin plague has spread to U.S. shopping malls. According to Fortune magazine, several big-name retailers, including Crate & Barrel, Nordstrom Inc. and Amazon.com Inc.-owned Whole Foods Market Inc., are planning to accept bitcoin and three other types of digital currency as part of a new initiative.

At first glance, creating cryptocurrency payment arrangements for retail products might seem like...

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