Billionaire investors Warren Buffett "Looking at the price is not investing"
Speaking to CNBC, Warren Buffett, a billionaire investor and Berkshire Hathaway's CEO, shared some light ion his views on investments and how we can all become rich. He didn't give a guide or anything else, but since he is as successful as he is, his words should be seen as advice, taken with a grain of salt of course.
Buffett notably considers bitcoin and cryptocurrencies as a bubble, as he has said so many, many times. However, this billionaire often does everything by paper and I believe he hasn't even sent a lot of emails in his lifetime, plus he's already acknowledged to CNBC in the past that he doesn't understand cryptocurrencies.
He acknowledged this after being confronted as to why he wouldn't short the market, since he so firmly believes they're a bubble. This is why I say we should take his words with a grain of salt.
Yeah, I don't think any well-known analyst or investor that has come out and said crypto will crash actually knows much about crypto. They don't understand that it's the inevitable future just like the internet became. You can delay it by being slow to adopt it for your company, but that's all it is--a delay. It's still coming.
They see it as a 'market' rather than seeing the technology that exists behind it that makes it what it is.