Warren Buffett: Bitcoin Is An Asset That Creates Nothing
In this post we will cover What Warren Buffet thinks about on Cryptocurrency and Bitcoin? My request for you is no matter if you agree or disagree, just hear him out before complaining like Buffett is getting old, etc.
He is one of the most successful investors with a lot more experience than most of
us here so definitely worth just hearing his side. On top of that if you're ever bullish on
anything it's always a good idea to listen to the other side of the argument just to get more info for yourself and then reevaluate your position based on that.
What did Warren Buffet say?
Warren Buffet said "I can say almost with certainty that Cryptocurrency and Bitcoin will come to a bad ending. Now when it happens or how or anything else I don't know but I know this if I could buy long-term puts I could buy a five-year put on every one of the cryptocurrencies i'd be glad to do it. I think that anytime you buy a non-productive asset
you are counting on somebody else later on to buy a non-productive asset because they think they can sell it to somebody for more money and it's been tried with
tulips and it's been tried it's been tried with various things over time and it does come to a bad ending. Imagine people selling their homes to buy a tulip in Amsterdam,
if people think they're going to make money the next day and worse yet if they think somebody else that they know is going to make money and they aren't going to make money just draws people in. You know I could whisper something on this and
kind of the more sillier it was the more it might react because there's no quantitative limits. If you buy a stock you say well I'll buy the times earnings but I won't buy it times for you but when you get into something that doesn't produce anything you know there's no there's no checkpoints there's nothing to reference it to it's just it's gone up.
Enjoy this Youtube video - courtesy CNBC.com
Another video by Warren Buffet on Cryptocurrency and Bitcoin