Warren Buffet talking about bitcoin

in bitcoin •  7 months ago

Warren Buffet will always be known as one of the best investors in history. His biggest mistake is not investing in insurance and he calculated that he would have made 200 billion on that investment alone. He spoke about bitcoin saying it's a gamble, not an investment. “If you buy something like a farm, an apartment house, or an interest in a business… You can do that on a private basis… And it’s a perfectly satisfactory investment,” he said. “You look at the investment itself to deliver the return to you. Now, if you buy something like bitcoin or some cryptocurrency, you don’t really have anything that has produced anything. You’re just hoping the next guy pays more.” Now I'm assuming everyone reading this isn't a billionaire so this is good advice.

“In terms of cryptocurrencies, generally, I can almost say with certainty that they will come to a bad ending,” Buffet said. He went on to say he’d bet on “every one of the cryptocurrencies” falling over the next five years. “But, I would never short a dime’s worth,” he added. He claimed he would never short it so this means he doesn't even follow his own advice. I'm not sure why he would hate something and not back it up.

Binance CEO Zhao Changpeng recently said cryptocurrency is one area Warren Buffet knows nothing about. “Warren Buffett is a guy I truly respect from an investment point of view, but I do not think he understands cryptocurrencies at all,” Changpeng said. Warren is a great guy but this crypto isn't his thing. Hopefully, he is wrong and everything will be fine!

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