Posted on 05/07/2018 5:08:45 PM PDT by NRx
Warren Buffett is still not a fan of investing in bitcoin.
The Oracle of Omaha reiterated his negative view on the cryptocurrency, according to CNBC's Becky Quick.
Bitcoin is "probably rat poison squared," he said. Buffett is presiding at the Berkshire Hathaway 2018 annual shareholder meeting on Saturday.
Charlie Munger, Berkshire's vice chairman and long-time Buffett collaborator, said during the meeting that trading in cryptocurrencies is "just dementia."
In January Buffett warned investors about the craze over bitcoin and other cryptocurrencies in interview with CNBC.
"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending," the chairman and CEO of Berkshire Hathaway said then. "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."
(Excerpt) Read more at cnbc.com ...
Hey, tulips were a great investment until the party ended.
And yet >$1B in donations to Planned Parenthood is the height of moral responsibility.
Most people who use the “tulipmania” reference do not understand this episode in economic history.
It may be rat poison, but the money I’ve made form it tastes mighty good.
I think it’s all a scam. Some billionaires, or other vested interests, started bitcoin, fronted their own money at first and slowly took their money and the real money people used to buy into it and are now allowing to collapse, having made off with hundreds of millions of dollars, perhaps billions.
Woe onto those who mortgaged themselves to the hilt to buy into it.
He also failed to invest in Google and Amazon, so he’s not looking too good in my mind.
Besides, Bitcoin and Blockchain are tools to take down guys like him. He sees the writing on the wall.
When Bill Gates AND Warren Buffett don’t like it, you KNOW it’s not good!
My returns on crypto over the past two years have exceeded the performance of BRK/A over the past 25 years.
On the contrary. Both are corporatist, globalist, and anti-freedom. Naturally they hate cryptocurrency.
Regardless of you opinion, if you get the time and feel like learning something new, look up what blockchain is and what its potential implementations are.
Also, look up who created bitcoin. I mean, who wrote the code?
“Also, look up who created bitcoin. I mean, who wrote the code?”
That’s what we’d like to know.
And he just bought Apple in the past two years. What an ace investor, really getting in on the ground floor of that AAPL.
“On the contrary. Both are corporatist, globalist, and anti-freedom. Naturally they hate cryptocurrency.”
I agree. If Warren and Bill Gates don’t like it
it must be good.
"How's that workin' out for ya?"
Why don’t you do some research instead of posing questions that show your lack of investigation?
In the early days, it was Hal Finney, mostly.
He also thought he didn’t pay enough taxes, and he used his “relationship” with Obama to make billions for his railroad company.
He is a smart guy, but he is not a “common” man.
Who funded him?
Buffett may be right, but the Fed’s monetary policy is suspect to say the least.
5.56mm
They understand neither economy. The two are nothing alike, AND 99% of people base their understanding of the tulip mania on something they read on the back of a milk carton.
And they know even less about bitcoin.
I love when they say, “it’s not backed by anything!” Like the dollar. Ha ha.
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