Crypto News Flash #152 : Bitcoin Is More Gamble Than Investment, Says Warren Buffet !!
Well, Warren Buffet doesn't need any introduction. If you're into stock investment and remain updated of stock market, then you must know Warren Buffet. He is the Oracle of Omaha and father of Stock Investing. Many investors generally take his advice and words on investment as a gospel. He's the most successful stock investor and businessman in the World.
Now, if you're into crypto investment, then I am sure you're loving the extra-ordinary returns of it as well as extra-ordinary losses. Crypto market has given many opportunities to earn a healthy living to many investors and traders but still many traditional investors don't believe in cryptocurrencies as an investment.
The oracle of Omaha and Word's Third Richest man, Warren Buffet expressed his opinions on Bitcoin as an investment. He said, '' 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."
Basically, he said that Buying Bitcoin is pure gamble as it has no intrinsic value. The only reason its price is increasing because other person is paying more money for it.
As per this Source, Warren Buffet said:
"There's nothing wrong with it. If you wanna gamble somebody else will come along and pay more money tomorrow, that's one kind of game. That is not investing."
Buffet follows the Value Investing approach for all his investment decisions. He believes that the holding period of a value business is forever and same can't be said in case of Bitcoin as it has no intrinsic value as such. Buffet said last year that 'Cryptocurrencies will have a bad ending', around when BTC was trading around $14000.
Now, many crypto investors don't take Buffet's advice as a word of caution. But personally, I believe that Buffet's knowledge about investment is far more greater than any of us. I personally would advise all the crypto traders and investors only to invest that money in crypto which you can afford to lose. Crypto investment is highly volatile and you don't want to be 'all-in' which crypto bubble burst.
Thanks for reading ....!!
well, I'm inspired by Warren Baffet and more than his investment career, with his philanthropic acts.
but you can not refer to him for everything. if you could say to Henry Ford, that Warren is speculating on insurance bonds and stocks, he would definitely say "boy, go find some real industry and create something! build something!"
crypto is new, blockchain is new and decentralization is very hard for governors to be accepted.
those who can fit, will survive
Hmm.. I think he is absolutely right. It's just like a game being played amongst people. The more pple use it, the more it rises and the lesser people makes use of it, the more it falls. Nice work @cryptonet
I agree with him.he is right.but at all,,,,thank you very much for gave our this information!!!
So, I have to disagree to your post, though I liked your blog and will follow you for further readings :)
Bitcoin Is Not Money! You do not need so much energy to manage an economy!
thank you for the information you gave