No Investment Record: Warren Buffett – One of the Biggest Bitcoin Enemies of Our Time | message

The legend of investor Warren Buffett was well ahead of the majority of current Bitcoin skeptics. About five years ago, the head of Berkshire Hathaway began to question the viability of Bitcoin. Even the interim price explosion has not been able to dissuade him from his critical appraisal. On the contrary, in recent months, Buffett has become one of the biggest enemies of Bitcoin of our time.

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Buffett was skeptical about the $ 130 Bitcoin price [19659004] Berkshire Hathaway's CEO continued to spread bad mood among Bitcoin's followers this year. He recently described the digital piece as a "poison rat in a square". Statements of this kind are by no means new to Buffett. Already at the Berkshire Hathaway annual general meeting in 2013, the multi-billionaire is positioned against the Internet motto and said, "On our $ 49 billion, we have not bought bitcoins. At that time, Bitcoin was still trading around $ 130. Only a year after this statement, Buffett reiterated his criticism and said that Bitcoin was neither an investment nor a permanent means of exchange. "This is not a currency, it does not correspond to the characteristics of a currency," continued the multi-billionaire.

The Tulip Mania of the 21st Century

Buffett also called the Bitcoin a speculative phenomenon and said that people buy and sell only as they think it will go up or down, "as they l & # 39; 39 have done with the Tulip bulbs have done. "He warns private investors against investments in cryptocurrencies. "The idea that Bitcoin has a great intrinsic value is just a joke, in my opinion. […] Stay away, it's basically just a mirage," said Lt. Buffett's call to investors. In addition to Berkshire Hathaway's CEO, economists Robert Shiller and Nouriel Roubini, as well as fund managers Ray Dalio and Howard Marks, question the legitimacy of Bitcoin.

It's going to end badly

As the Bitcoin peaks at about $ 20,000 just four years after Buffett's first public criticism, even the Omaha oracle could not predict . Nevertheless, such price increases in Bitcoin leave the value of the cold investor. "As far as cryptocurrencies are concerned, I can almost certainly say that things are going to end badly," Buffett said of the digital currency boom.

Buffett's missed luck?

Despite all the negative remarks of Warren Buffett and Charlie Munger regarding Bitcoin, the two investors' legends must now admit that an investment of Bitcoin in 2013 would have been worth it. Despite the huge price drop of about 70% since the highest of all time in December 2017, Warren Buffett could not have found a better investment alternative in 2013 than the Bitcoin. If Berkshire Hathaway had invested in Bitcoin the day Buffett held his public debates for the first time, the deposit would still be above about 5,000%, despite lower prices this year.

Pierre Bonnet / finanzen.net

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