Warren Buffett On Bitcoin
Warren Buffett has clearly stated his position on Bitcoin in a number of interviews and it is not bullish. However, could this be a case where a more traditional investor has found himself on the wrong side of a revolutionary tech trend yet again. In the 1990’s, Bill Gates tried to sell Warren Buffett the idea of software taking a leading role in the tech industry, but Warren did not buy in and now Bill Gates has made a fortune off his Microsoft software company. The famous investor also missed out on the dot com boom in the early 2000’s.
Should we follow Warren Buffett on Bitcoin, or should we follow our own personal instincts. In this video Data Dash, popular crypto YouTuber, explains why he believes Warren could be missing the point on Bitcoin:
In the video Warren Buffett makes the point that Bitcoin is not your typical asset that can be judged based on what the asset produce. He believes that a real asset can be assessed, bought or sold simply based on the assets rate of production over time.
“When we buy a business, we look at what the business earns and decide how we feel about it in terms of what we paid. But we are buying something that at the end of the period we not only have what we bought in the first place, but we have something that the asset produced and when you buy non productive asset all you are counting on is whether the next person is going to pay you more because they are even more excited about another next person coming along, but the asset itself is not creating nothing.”
Data Dash acknowledges Warren Buffet’s point but go on to argue that based on the true definition of an asset, Bitcoin definitely fits the criteria; and explains why sees Bitcoin as the next evolution of money.
Warren Buffett on Bitcoin in CNBC interview:
Warren Buffett on Bitcoin: what Bill Gates thinks.
Warren Buffett on Bitcoin: what Chamath Palihapitiya, venture capitalist and the founder and CEO of Social Capital, thinks.
Warren Buffet on Bitcoin: what Marco Streng, the CEO of Genesis Mining, thinks.
Warren Buffet on Bitcoin: what Max Keiser of the Keiser Reports thinks.
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