Warren Buffett said Bitcoin is Not an Investment, it is just a Gambling and a Game

Warren buffet on cryptocurrency news



It seems nowadays, many old influential people are against bitcoin and cryptocurrency in general, this may be due to their lack of their knowledge and interest in bitcoin or self pocket for their companies (bitcoin investment strategy strategies).
As reported on cryptocurrency news and bitcoin news today, the Oracle of Omaha, Warren Buffett, world renowned investor and head of Berkshire Hathaway, was asked about his views on cryptocurrency, especially that of bitcoin. While not as dour and hateful as his Vice Chairman of just two months ago, Mr. Buffett is not convinced bitcoin is anything more than gambling, a game.
Learn how to trade bitcoin and cryptocurrecies OR become a crypto members club. click here




Also read: 51% of Bitcoin Miner for $60 Million bought by Hong Kong Alcohol Company

Oracle of Omaha Doesn’t Believe Bitcoin is an Investment


Ahead of the 2018 Berkshire Hathaway Annual Shareholders Meeting, a near religious experience for legacy, mainstream investors, Warren Buffett was once again asked about his views on cryptocurrencies, such as bitcoin.Mr. Munger (L) and Mr. Buffett

“You aren’t investing when you do that,” Mr. Buffett, 87, told Yahoo! Finance recently, referencing the world’s most popular decentralized currency. “You’re speculating. 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, its just an increase in bitcoin price”

Warren buffet on cryptocurrency news


Mr. Buffett is actually quite reasonable compared with his longtime partner, Charlie Munger. Berkshire Hathaway’s Vice Chairman told an assembled Los Angeles audience in mid-February, “I never considered for one second having anything to do with [bitcoin], I detested it the minute it had been raised. The more popular it got, the more I hated it. It’s just disgusting that people have been taken in by this.” He’d go on to compare bitcoin to a “noxious poison.”
Don’t Really Have Anything that has Produced Anything




Traditional finance’s most famous investor is a tad more muted about crypto, but no less skeptical. “There’s two kinds of items that people buy and think they’re investing,” Mr. Buffett continued. “One really is investing and the other isn’t.”



With revenues at nearly a quarter trillion (yes, trillion) USD, Berkshire Hathaway has a lot of influence, especially in popular retail investing. As of this writing a single share of its Class A stock runs a cool $295,995 per, a price the more glassy-eyed of the bitcoin ecosystem say it too will reach one day. Mr. Buffett’s personal fortune hovers around $80 billion (yes, billion). He famously does not invest in what he doesn’t understand. Crypto would seem to fall into that category.
Learn how to trade bitcoin and cryptocurrecies OR become a crypto members clubclick here
“If you buy something like a farm, an apartment house, or an interest in a business,” he insisted, “You can do that on a private basis. And it’s a perfectly satisfactory investment. 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.”

What do you think about Mr. Buffett’s comments? Let us know in the comments below.

Useful links:
Do you want to attend a profitable and genuine business seminar? CLICK HERE FOR MORE INFO
BUY/SELL or EXCHANGE Bitcoin and other Altcoins through secure Web Wallet. Registration is FREE. CLICK HERE
Ytech Consult blog ( #YtechNigeria ) is growing fast and we thank you for your support. If you have News and Marketing strategies, Investment strategies, Inspirational quotes or Press release articles/ materials, you can send it to us for posting on our blog. Let’s work together to deliver quality services globally. Send your articles to support@ytechconsult.com as guest posting.
Thanks.

Related

Investment 6585959244391023483

Post a Comment

Recent


FOLLOW US

Footer Ads

SEMrush

LIKE US

Follow Us

Google+ Badge

item