And from an investment standpoint, Buffett certainly makes some good points. I believe pundits will be surprised at how far unemployment drops once that happens. Yet the Oracle of Omaha couldn’t resist making a few guesses about the future over the years. His comments today echo those he made a year ago when he said :. In short, while investing in bitcoin isn’t a great way to allocate your investable assets in Buffett’s view, that doesn’t mean that you need to avoid it altogether.
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A annual shareholder meeting, Buffett claimed that buying the leading digital currency, bitcoin, should not be considered a proper investment. That is not investing. Buffett then spoke negatively about cryptocurrencies again in January. Buffett responded that he was certain that every cryptocurrency would fall over the next five years. However, despite predicting their downfall, Buffett also refused to bet against the virtual currency market. Warren Buffett. Your Money.
Buffett has made some negative remarks about bitcoin in the past, and he just renewed his criticism.
Billionaire investor Warren Buffett said Wednesday that he would never invest in Bitcoin or other cryptocurrencies, and predicted the wildly popular assets are in for a fall. Bitcoin is the first, and the biggest, ‘cryptocurrency’ — a decentralised tradeable digital asset. That means it has attracted a range of backers, from libertarian monetarists who enjoy the idea of a currency with no inflation and no central bank, to drug dealers who like the fact that it is hard but not impossible to trace a bitcoin transaction back to a physical person. The exchange rate has been volatile, making it a risky investment. Whether it is a bad investment is yet to be seen. In practice it has been far more important for the dark economy than it has for most legitimate uses, but with Facebook’s announcement that it is launching a new digital currency — Libra — mainstream interest in bitcoin has surged. Munger has been a persistent critic of cryptocurrencies, which have soared in value in recent months.
Warren Buffett: Cryptocurrency Will Come To A Bad Ending — CNBC
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More of: Bitcoin Warren Buffett. At last year’s shareholder meeting, Buffett called bitcoin «probably rat poison squared ,» and also said that he thinks cryptocurrencies won’t end well for those who buy. Munger added that trading in cryptocurrencies is «just dementia. The year-old billionaire owner of Berkshire Hathaway is no stranger to slamming bitcoin and blockchain. It just sits. Cryptocurrencies Thomson Reuters Prediction: «In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending,» Buffett said in an interview with CNBC in January Berkshire Hathaway’s per-share book value rose by Housing Prediction: «Housing will come back — you can be sure of that,» Buffett told shareholders in his letter in after the US housing bubble burst, fueling the financial crisis. Buffett admitted he made a mistake, overpaying for his stake in the food and beverages company. Obviously, don’t expect Warren Buffett — or Berkshire Hathaway, for that matter — to buy bitcoin anytime soon. Currency Exchange Rates. Speaking of his failure to invest in Amazon, he said :. Buffett may have been making a point about stubborn denialism in financial markets, but his prediction about so-called flat-earthers was correct — they’ve enjoyed a resurgence in recent years. You can stare at it all day and no little bitcoins come. If Buffett had to pick one forecast to undershoot, he would probably did warren buffett buy bitcoin this one. His comments today echo those he made a year ago when he said :.
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