Buffett: "I Would Buy A Five-Year Put On Every Cryptocurrency"
In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending, said Buffett, the chairman and CEO of Berkshire Hathaway.
When it happens or how or anything else I don't know, but I know this: If I could buy a five year put on every one of the cryptocurrencies, I’d be glad to do it but I would never short a dime’s worth.
I get into enough trouble with things I think I know something about, Buffett said. Why in the world should I take a long or short position in something I don't know anything about.
I double dog dare ya to!
Five year puts? I don't think this guy even buys green bananas anymore.
Buffet is jawboning, he wants to move the price down so that he can gobble up bitcoins at a cheaper price.
Pure bullshit. Crypto is going to revolutionize the insurance business and Warren is big into insurance. So, he'll be eating his words on that statement.
That humble folksy grandpa routine is just like the old mafia dons who ran around looking like Robin Hood while running criminal enterprises on the side. Best advice is to bet exactly the opposite of whatever advice a billionaire decides to dish out in public.
Buffet's intent is to keep mom and pop on the Wall Street plantation.
*Wall Street IPOs are leftovers, picked clean by VCs, investment banks and insiders, who get 1000x returns while mom and pop get 5% stalk returns.
*mom and pop are locked into a single exchange and forced to pay huge bid/ask spread to market makers/ brokers.
*mom and pop can't xfer their shares, take possession of them, or trade on foreign exchanges. Wall Street IS a plantation run by...
the Grandpa Buffet evil POS elites.
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Those news won't bring bitcoin and altcoins down anymore.
You really have a point
Gobble them up at cheaper price and becoming damn richer when the rise. Buffet is blabbing
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