excesses of the dot-com bubble, yet calls his decision to bypass on Amazon and Google mistakes. (He was also asked today why hes not invested in Microsoft, with founder Bill Gates sitting just a few feet away; Buffett said their friendship could breed accusations of insider trading.) But on cryptocurrencies, he is unequivocal.
As a result, investors demand for it is the only price-determining factor, making digital currency a handy tool for charlatans, Buffet said. Continue Reading on Cointelegraph. Warren Buffett, Charlie Munger Slam. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin.
As such, it is more.
According to Warren Buffett, Bitcoin is not a productive asset, not like corporate shares or land.
Larry Fink, CEO of Blackrock, appears to like bitcoin and says it will reduce money laundering. To me, its just dementia. Warren Buffet who is 87 years old is known for his scepticism towards digital currencies. Its like somebody else is trading turds and you decide you cant be left out. Buffetts record on tech investments is mixed. The subreddit dedicated to living exclusively via bitcoin, Living On Bitcoin, doesnt offer anything better. Omaha, Nebraska, warren Buffett does not like cryptocurrencies, a position he reiterated today at the Berkshire Hathaway annual meeting. Jack Bogle, founder of the Vanguard Fund and investing legend, said in 2017 that you should Avoid bitcoin like the plague and that it will return to 100 per coin in the future. Charlie has compared bitcoin to dementia and rat turds, while Warren offers the more gentle analogy of tulip mania. The r/bitcoin subreddit, famous for its pro-bitcoin stance and resultant censorship, does not offer exciting examples of bitcoin used at point of sale. Across his 40 shareholder letters over the decades, Warren has consistently encouraged a cautious investing strategy, completely opposite the ideas found in the cryptocurrency space. The next section digs into.