Steemleo Show #16 | The Real Reason Why Warren Buffett Hates Crypto
Warren Buffet was recently interviewed on CNBC and was asked about his opinions on cryptocurrencies and Bitcoin after his dinner with Justin Sun and a few of his “crypto buddies”.
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There is no doubt that Buffett is an incredible value investor, but when it comes to evaluating cutting edge technologies, he may not have the best track record. He has made a MASSIVE bet on Apple, but he didn’t make that bet until 2016 — when the company was already a global behemoth with a massive amount of positive cash flow.
Buffett doesn’t predict “the next technological breakthrough”, instead, he focuses on income-producing assets that are tangible in the here and now and can reliably grow in the future. That’s why I believe his perspective on investments regarding innovative technologies ought to be taken with a grain of salt.
In This Episode:
- Titans of industry — a direct correlation to be anti-disruption
- Lack of technological awareness
- Lack of research in the industry — listen to people who talk about shit they know. Warren Buffett is an amazing person — maybe even the best person — to listen to when it comes to value investing. Buffett was anti-Apple until 2016 when he purchased a large stake. Now he calls Apple ‘probably the best business I know in the world'
- Buffett’s principles of value investing make him an incredibly successful investor when it comes to buying companies that are already valuable and will continue to be valuable in the future. He DOES NOT make his money by predicting the future flow of innovation. It’s all about cash flow and assets.
- Crypto is completely outside the realm of his understanding. He focuses on cash flow and how to purchase more INCOME PRODUCING assets. To him, Bitcoin is the same thing (or maybe even worse) than Gold because as he has said in the past — Gold is only good for looking at it. You can’t do anything with Gold. It doesn’t produce any income. With Bitcoin, Buffett values it even lower than Gold because you can’t even look at it or wear it.
Links Mentioned:
- https://www.cnbc.com/2020/02/24/warren-buffett-cryptocurrency-has-no-value.html
- https://cointelegraph.com/news/anthony-pompliano-speaks-to-cnn-about-warren-buffett-and-bitcoin
Podcast notes --> https://steemleo.com/buffettonbitcoin
▶️ 3Speak
Everyone is entitled to his or her own opinion Concerning crypto but I believe crypto have a positive impact to play in people's life while investing in it.
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Warren Buffett is over 90 years and maybe he made a personal decision of investing in only things that have a physical value or things that are already working. While he is rich, he might want to stay consistent with his income and limit risks.
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Crypto has proven a positive future in today's world, since a lot in d world is going digital, I'm sure crypto will be a key impact in it.
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Taking decision to invest in cryto is not really a bad idea
Greetings boss, everyone have there own opinions on crypto and I believe that crypto have changed some people life in this era which I believe it's will still continue to do so if the investors are still keep investing on crypto.
Investing on crypto is great business
This means to have value it need to be in physical form. But technologies is something which cant be made into physical form. Warren belive in old model of Investing and adapting to changing technology is not easy for them....my Dad is over 80 but unable to handle a smart phone...same thing must have happened to Warren.
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Looking at the generation of warren buffet, people from those age seem to lack the understanding and only rely on physical investments. His net worth could have soared much higher if he invested in Bitcoin.
Looks like someone didn't heard about DeFi
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Most times I begin to imagine perhaps been an investors does not equal to investing in crypto
I am beginning to realise in the future, warret buffet might regret not giving crypto a chance in his wealth accumulation strategy
Warren Buffet might change his mind later on because and sure Justin sun and his crypto currency buddies will not paint a bad impression about cryptocurrency for him and if he see them succeeding he might want to give it a try remember fews years back when Bitcoin was nothing some people that are investing now in it will not invest and moreover cryptocurrency has a great future.
If he finally invest in cryptocurrency then cryptocurrency if going to the moon.
Well Warren Buffet is a great man, no doubt about it but his present stand on Bitcoin is not good at the moment which I believe that he will change his mind as time goes on because the world is moving towards digital currency and Cryptocurrency might just be the leading pathway to that.
Crypto is great investment which really help alot of people and it has have positive impact is so many live.
So to invest in crypto is a wonderful thing or the best idea.