Bitcoin Forum

Warren Buffet on an interview with CNBC said that Bitcoin and other cyrpto currency have no value,he said they don't produce anything "you don't do anything with it except sell it to someone else" he said is just Bitcoin will just reduce the demand of suitcase.
 Seeing these statement  I had to bring it up in Bitcoin discussion ,but at the same time every one has his entitlement or point of view..

Leave this guy alone, he's like 130 yrs old. I consider him a guy that earned his authority, but he's not in the league anymore

If he says the same thing about cash (with the caveat that cash is going down in value and never up) then fine. But considering he holds a lot of cash, and not just shares, I'm thinking he doesn't say the same thing. So he has to explain why cash is valuable but BTC isn't.

Let him be. He's a known bitcoin unbeliever and been told that bitcoin is probably rat poison squared. (https://www.cnbc.com/2018/05/05/warren-buffett-says-bitcoin-is-probably-rat-poison-squared.html)

He's an old man and can't possibly understand that technology is phasing quickly and possibly to make a tremendous amount in investments. He likes more conventional investments. Account him for his accomplishments even though he doesn't like bitcoin.

You missed out several thoughts too.


Warren Buffett blasts bitcoin as worthless and vows he will never own a cryptocurrency (https://markets.businessinsider.com/currencies/news/warren-buffett-blasts-bitcoin-worthless-vows-never-own-crypto-value-2020-2-1028932272#)
Warren Buffett Changes Mind on Gold: He Will Panic-Buy Bitcoin at $50K, Says Max Keiser (https://news.bitcoin.com/warren-buffett-gold-panic-buy-bitcoin-50k/)
4 Reasons Warren Buffett Can't Stomach Bitcoin (https://www.fool.com/investing/2020/10/13/4-reasons-warren-buffett-cant-stomach-bitcoin/)

There are still lots.So its better to put this man on ignore but who knows if this man is just tending to give out negative inputs but actually buying behind the curtains.

Brace yourself for more future critics by him about Bitcoin.

I suggest not taking him seriously or if out of curiosity, you really want to know more about why he is always like that, search why he is skeptical about crypto as a whole. Then from there, decide to yourself if those pointers by him make sense.

From now on, you have to be used to seeing statements like that, not just by him but by other popular and famous people as well.

It will be good if you add the link you read all these from, but normally we all know that Warren Buffet is a bitcoin and crypto critic generally, and his points are baseless, how can someone says bitcoin has no value, but can be sold, can something that has no value be sold? That two statements are contradictory. I think, people have different opinions, there are rich people that also like bitcoin like Bill Gates, so we can not think in the same way, but it is clear that Warren Buffet is completely saying what is not right, he is just completely wrong about what bitcoin is.

Well, there is a saying, no one can please everyone.  As we like and believe in Bitcoin, Warren had been an unbeliever ever since.  May it be because of old age that he failed to adopt the current changes in technology or he is too conservative to place a bet on a very new and highly volatile market of BTC. Warren has made his stance against BTC and I believe it won't change so I guess we better leave him be.  He is the one missing out not us so why do we care?

It sounds like he thinks bitcoin is a ponzi scheme. Well, I guess he doesn't like the wildly fluctuating way bitcoin moves. I don't get why this man doesn't like it at all, though. He is clearly the most iconic succeeded investor of all time and bitcoin was the greatest investment of the 10s. It seems like he does not want to admit that he wanted to buy but didn't believe at it.

Lol, he is the leader of the "ITs nOt A pHysICaL thInG" crew  :D

His opinion was already discussed in a number of threads.

I can summarise everything in 2 simple sentences.

1. Warren is an old guy who never invested in any tech companies so his opinion on tech isn't something I'd value.
2. Bitcoin is used for much more than trading. He doesn't know what he's talking about.

Warren Buffet says that he doesn't like cryptocurrencies and he doesn't intend to buy any crypto. But if I am not wrong, there was news about he bought some Bitcoin anyway. I don't know if his behavior is related to being very old or it is just some strategy. He contradicts himself.

If he made this statement a few weeks after Bitcoin's release more than a decade ago, it would make a complete sense. But the thing is, some businesses are already accepting it as a valid payment for goods and services, so we can no longer deny the fact that bitcoin has a "value". The thing about value is it exists based on people's assertion. The more people adopt bitcoin, the higher its value (not price) becomes. We just need to get Bitcoin to a point where discarding it is no longer an option, a point of no return, just as how we did fiat currency that ended the traditional barter system centuries ago. Then, its adoption will be set in stone.   

Some people may change their minds anytime. Warren Buffet literally knows how to make money, he literally knows a lot when you said about "money", he becomes a billionaire because of his skills and brilliant mind.
His sentiment on Bitcoin before may still a few foundations that's why he is telling the public he is not buying Bitcoin, but later on, he changed his mind. That is an example of being a good trader, you can always change your find based on your analysis not because of what people says.

This is not the first time I have heard of Warren giving his opinion on bitcoin and crypto market as a whole and every time he does so, it always negative sentiment. I think he's just waiting to see if crypto will have a regulatory crackdown. Don't be surprised if we learn that he already bags filled with BTC. JP Morgan had a similar view a few years ago and just yesterday, they launched their own token and embrace crypto. So buffet would join the train soon.

Let us not be Justin Suns here. If the man says he doesn't like it, then let him be. Bitcoin is always here ever ready to be familiarized and thoroughly understood. If ever a time comes for anybody to suddenly find interest or curiosity with it, they can always get to know it right away. If not, then it is not Bitcoin's loss, not theirs either. To a certain extent, everything is about perception. We just have to respect that. In the words of Satoshi himself, "If you don't believe me or don't get it, I don't have time to try to convince you, sorry."

It is not new for a well-known person saying about negativity on bitcoin, let them be, they don't believe bitcoin then we can't blame them, it is their perspective in life, it is hard to explain a thing to a person who doesn't want to learn something, he doesn't want to open his mind for the good things that bitcoin can be.
Indeed, you got the point bro, he can be respected because of where he is now but he can't be respected for what he stands for.

What do you expect coming from him :D.

Lets just not focus on what he is saying. He is just saying anything and it is his opinion. Lets not get butthurt with what he is saying and just move on with it. After all, this isn't the first time that an investor like him is saying negative things towards Bitcoin. I will just wait for the time that he will eat his words instead and will support Bitcoin in the end.

That's his stand as always to Bitcoin so nothing new. He has his own investment rules and vision and that makes him a successful businessman.

OP, taking his statement seriously might just affect your thinking. Anyone is free to say something about how they looked at Bitcoin, positive, negative, or a FUD. We, as a crypto-enthusiast should just focus too on our own goals and investment goals.

Never mind those people but instead, mind our own business.

There are reasons why he doesn't like bitcoin and called it 'rat poison squared', he stated will never own bitcoin.
Even long before bitcoin, Warren doesn't like to buy Gold although it's a valuable asset, he repeatedly said would rather buy shares from good companies than invest in gold.
just as he doesn't like investing in gold, so does invest in bitcoin, because he considers it as unproductive assets nor produces anything which is an object for speculation and manipulation, 'a gambling device' he said.

he doesn't criticize bitcoin though and in fact he doesn't really talk about bitcoin. in the interviews the interviewer asks him about bitcoin and he basically says "i don't understand it". then the news sites go ape shit over it!
there is a couple of reasons for what he says too. first is that he doesn't want to see any capital leave the markets he is in and basically owns some of them and go into bitcoin and secondly he is an ancient dude who thinks only things he can touch can have value.

Most of the bitcoin and cryptocurrency investors are millennials and generation Z. Young people will love the latest technology including Bitcoin which is a new digital investment model. Meanwhile, Warren buffets are parents who reject the latest innovations. all he knows is traditional stock investing. He doesn't understand the advantages of blockchain and bitcoin technology.

He served centralized corporations and helped wealth inequality exist. He has a big influence over a lot of companies and industries and will not support something that goes against it. Once you know you had the power for so many years, supporting something that can't be controlled is like burning your past work. The feeling of leadership & power can't be compared with anything else, so even if he knew Bitcoin was a big thing, he'd rather not sustain it.

A sort of denial in a part of Warren. He surely knows about Bitcoin, he's a business man, a powerful person and obviously, he's looking forward to what Bitcoin can affect his business. Who knows actually if he's already investing it right now or might they accumulating since from the start. That sounds funny, right? But who knows, really.

But because most crypto enthusiasts never believe him, be surely be criticize whatever he said.

Many of them are use to Fiat money which they only believe that fiat money is the only currency on earth. Many currency loose their value during the pandemic but bitcoin still maintain value and steady pumping through out the lockdown. No way you can use crypto to compare to fiat money which is a centralized currency over some 100 years which is control by the government of the country. I think before bitcoin will be getting to 100 years will be more popular than fiat money.

We all have something to say about crypto let him talk about his opinion it is his rights but we all have our own opinion after all.
I for one also thinks that gold are the same they are just valuable because they could be use to create jewelry but for those who doesn't like jewelry they could also consider it worthless.
It is the same as how he see's crypto but I hate to agree with him but it's true crypto value depends on the demand.

Warren Buffet is a great investor and an ingenious person. However, when it comes to questions about innovations in technological aspects and decentralized monetary systems, he clearly shows his lack of understanding, consistently expresses doubts about new technologies due to his lack of grasping new. Warren Buffet still can't accept the fact that bitcoin is an advanced form of money, the money we have never seen before. Being merely money, bitcoin doesn't need to produce anything. It only should serve as an efficient medium of exchange. It is a tool to facilitate exchanges between people, and it is doing a great job at it because it has all the important characteristics money should have.

Just let every old man tell their stories and besides you will miss those when their gone in this world.   ;D ;D ;D

Knowing Warren buffet?what do you want to expect in his diction ?

Yeah This famous trader has His own belief in life that has been in His system for years now so this cannot be change by Bitcoin.
considering His age is really for traditional trading platform applicable lol.

He believes in an authentic way of investing. An old person who just denies accepting change. Let him be. He has earned his part of share already so just concentrate on yours, let people speak. BTC

Read some books on Buffet. I used to admire him until I found out what a crook he has become in the last 20 years. You know every Duracell battery that's been destroying your electronics - that's because BH forced P&G to basically to use substandard chemistry and a defective cell design - thereby creating millions of tons of ewaste. He also lobbied hard against the oil pipeline playing ads on TV about the environmental impact when his own rail line had below the industry average safety and higher than average incidents of oil spills. He gives off a humble grandpa person but it's all just a charade for his own self ambitions.

We cannot force everyone to like and support Bitcoin, let alone if Warren Buffett thinks negatively about Bitcoin. Maybe he's too
comfortable with the success he has achieved with the stock market, so it's hard to accept anything new. Everyone is free to argue
about Bitcoin, let it be time that proves Bitcoin has a value or not. We don't need to respond to what Warren Buffett has said,
it's better to focus on Bitcoin alone.

Quite reasonable. most likely he has bought and collected bitcoins but not directly. it's young people in his investment company. Given that Buffett has sold his stake in several banks and then bought gold. It could be, he also bought bitcoins secretly.

it's like a conspiracy  :D :D

It is common to reverse the price which is currently in good condition on bitcoin, it is not impossible that there is a reason behind it all.

Because as we know a lot of people give bad news but in the end they say good things so that the movement of bitcoin is positive again, this is not the first time this has been done.

Huh?He speaks about Warren Buffet's stand against Bitcoin and what is reversing here?
and besides The Old man has no care about what he wanted to say ,we don't need His opinion why targeting Bitcoin and cryptocurrencies?
Some of them are only making bad impression to bring the price down so they can purchase more.
This is common thing that happen in Cryptospace ,these people are investors and they wanted to earn even in easy way.

I don't want to be ageist, but I agree with you. Hypothetically, an old person can be a Bitcoin enthusiast. It's not an age thing in essence, it's a conservatism thing. People who have strong trust in the traditional system, love gold and banks, and profited from this system, don't want and don't need any changes. They're already prosperous. Something new involves new potential risks and requires new research. Why do that if you're fine with how it used to be? And since it usually takes time to profit from the old system, these anti-Bitcoiners tend to be older than Bitcoin supporters.

Warren Buffet never think that bitcoin will get to this position. Bitcoin value is still more better than other cryptocurrencies in this season  will are experiencing, that is reducing other cryptocurrency in the market.
 Bitcoin is not favouring you,does not mean is not favour others in the areas of exchange market. Now bitcoin is in this position many are still talking that it will soon lose it value the way others cryptocurrencies is losing right now.

Don't listen to this old man or you may as well be blind by his speech. He doesn't deserve to have our ears listen to his baseless statements. Nowadays people will listen to these fools who are getting paid to talk about bitcoin without knowledge. we better leave them alone or we are feeding these crooks some attentions and they will do this again with another scripted speech from their clients.

Warren is a businessman of the last century, you must understand this otherwise you will never be able to understand him.

The guy deserves respect for what he has done in the investment industry, but this is not his turf or niche he is not young anymore to explore or he don't have the time and effort to do it, because of his age, Cryptocurrency and blockchain will go on and he is works and teaching, some Cryptocurrency investors are also applying some of this teaching in Cryptocurrency.

This has been discussed at nausea here.  Warren Buffet is a dinosaur and has a monetary reason to not like bitcoin or want it to succeed.  First of Buffet is known to avoid technology as well.  His recent apple purchase for berkshire hathaway was his first tech buy I think ever.  Warren has stated himself he doesn't understand bitcoin and or the blockchain, so his opinion, despite the fact that he is one of the all time great investors, isn't worth jack shit.  Gilfoyle does a good job explaining this on Silicon Valley https://www.youtube.com/watch?v=t_L0UPmxgho

It is funny how that Warren Buffet would think bitcoin has no value but can be sold to someone else. I believe it is impossible to sell something that has no value. What would be the price of such commodity?
Truth be told, Warren is a leading figure in the area of money and investments and deserves some accolades. However, he's absolutely wrong about bitcoin.
Many have said it's probably because of his age and he couldn't totally grasp the idea behind bitcoin and the Blockchain technology. This may be true but I believe it's just because he doesn't believe in the potentials of bitcoin and would do anything to go against it.

Have not seen Bill gate shown interest in bitcoin and I feel he kept quiet on it because Warren Buffet is his friend. At a point we should realize we dont need everyone in cryptocurrency and even some approval to excel, Bakkt did not give that significant effect we expect because it was in the bear. Such influence wont return bitcoin price to ATH tomorrow. Since his meeting with Justin and his response that express his ignorance, i have always neglect him on bitcoin topic. At 90, he has lesser years to spend than he has spent, the financial technology is for the younger generation.

As far as I understand, by this statement he meant not only bitcoin, but all cryptocurrencies in general. I do not agree with him, in my opinion, the future belongs to cryptocurrencies. Sooner or later, paper money will disappear from circulation, or at least, its use will decrease significantly. Technology is the future.

People like warren buffet can't say things like this. Because what he says applies to every coin in the world, a coin doesn't produce anything, but you can sell it, and in exchange you will receive something, because everybody believes that this coin has a certain value. And that is the challenge, make the people believe in the value of bitcoin, not to produce anything

Many people have said this nonsense before, but they retracted their words after a period of time, because Bitcoin has proven to everyone that it is more than just a currency to be sold to another person, I can say that Bitcoin is a real revolution and not just a currency for sale and soon the time will come when we see Bitcoin It replaces the defunct central financial system that currently prevails.
I see this fact clearly and I see every day there are more people, companies and large institutions joining the Bitcoin world.

Warren Buffet has never been a fan of gold, he doesn't like gold as an investment, preferred to buy shares of a profitable company.
Because he thought that gold is lack of utility, requires storage space and security fees which isn't a productive asset.
Note it; Warren's company Berkshire bought roughly 20.92-million-share purchase of gold-mining stock Barrick Gold, he bought the share of a company, not the gold.

Why not just ignore him with all the other Bitcoin hater as well Bitcoin has proven that it isn't worthless and it would continue to survive for the last 10 years.
So why would we doubt it now? It is just his thoughts along with others as well does it really matter to us?
Would you leave Bitcoin or crypto because of their statement?

Let the Old man Release His stand since Days are coming for Him and in the years come may gone completely while Bitcoin and cryptocurrencies will remain here.
And besides never that we can expect good words from Him towards our community here because there are no chance that He will change course from using other platform to profit than crypto.

 "I think there is a world market for maybe five computers."
Thomas Watson, president of IBM, 1943

 "There is no reason anyone would want a computer in their home."
Ken Olsen, founder of Digital Equipment Corporation, 1977

As you can see from above examples, foolish statements from not-so-insignificant people through recent history were not uncommon. :)

As crypto enthusiasts, we can ignore him.

FYI, Warren Buffet is the 7th wealthiest person in the world.  With his age and the types of industries he invested in, obviously, it will be hard for him to understand the value of Bitcoins (that's why his a Bitcoin hater).  When he mentioned that "you don't do anything with it except sell it to someone else" the statement is already wrong, for all we know even a piece of chewing gum that you sell for a single cent or a penny still has a value which made his statement incorrect because anything in this world regardless if it is physical or not and you are able to sell it that means it has a value which confutes his own words.

Anyway like OP said everyone is entitled to have their own opinion and be able to express it in his own way. Just ignore him he might just live during the stone age, IMO.

Lol...Exactly my thought too! I sincerely hope people should stop worshipping Warren Buffet and erroneously thinking he's a god of the economy. Dude makes mistakes too and he isn't infallible. The way it's looking now, this (not believing in Bitcoin) is another of his mistakes. But something keeps nagging at me that billionaire Buffet is a secret hodler of Bitcoin. Truth be told, Bitcoin is past that age where it would've mattered if a single individual believed in Bitcoin or not. Bitcoin is now heading towards mass adoption.

your right everyone has a point of view but its hard to accept when a famous personailty talks negative towards btc .

he isnt just famous but he also known in the financial field , with the knowledge and expertise he have on this area , its almost impossible that he didnt study btc before he gave comments in public .

 is this the guy that had a dinner or lunch with the tron founder before ? why he did do that and he also recieve a crypto gift which was btc and some tron from justin then later on he came out with this sentiments 

This is not his first time, he has been known for such comment relating to anti bitcoin. This is not a news to the bitcoin community. For some moment, Warren has been in the news for this, so we just treat him like such bitcoin critics while it keeps moving to its purpose. If you check on google about Warren, you can see that also.

Warren Buffet doesn't really hate bitcoin or cryptocurrency. Warrent Buffet is just avoiding it, because he knows the future is in blockchain technology and not in cryptocurrency. Warren Buffet doesn't understand why a platform without an underlying asset can have such volatile prices.
Warreny Buffet also said that bitcoin could not be valued because it was not an asset that gave real results and basically bitcoin was just a mirage.

Even so, bitcoin still has its fans because indeed bitcoin is a future technology that has the potential to continue to be developed.

Bitcoin was created, not to satisfy warren investment desires...
it didn't affect me even though he kept saying Bitcoin has no value. he has often said sentences do not believe in Bitcoin many times, we don't need him to like Bitcoin because Bitcoin will continue to grow without warren.

Trick or treat!

https://i.imgur.com/vMXnqq4.jpg

Warren Buffett is an old fashioned guy, so he has no idea or just don't want to accept the decentralization. We know there are people who became millionaire by investing on bitcoin so not everyone supposed to invest on everything, they will go with their journal and try to destroy all others.

Besides, Warren has made several mistakes in investing, mostly neglecting the investment because of misunderstanding or little information which I consider safe for him, though his misunderstanding does not affect the success of the project. As crazy it might look for everyone, neglecting investment for little information and misunderstanding is still very vital in making investment decision.

He just said about his thoughts and there is nothing wrong with that, because he is more in the stock market then it is natural that he chose not to have Cyrptocurrency.
He is very successful with his investments, so maybe he is just thinking why should invest into something that he doesn't know well like Bitcoin/cryptocurrency which the market is very volatile different with stock market that more stable and suitable for long investment.

I really don't care about what Warren buffet thinks anymore about bitcoin or cryptocurrency, that's his own opinion and choice everyone is entitled to their own opinions, since his already old what do you expect old people don't really like learning new things, same way most of them have no idea what crypto is, so he can continue saying bad stuffs about it as long as he wants, for me crypto is the future, there's no way I'm gonna leave it, because Warren buffet doesn't like it.

Warren also said in a number of interviews that he doesn't invest in new technologies. I'm pretty sure somebody asked him about Bitcoin and since he was not interested at all and had only basic understanding of the concept he took a negative stance. Who can blame him? I think that people here pay too much attention to what he says, forgetting that he let a number of great opportunities pass him by in the last 20 years.

I guess he's a traditional man and only invests in the common assets.

I get it, he doesn't care about the newer one and he didn't see any potential to crypto, that's not our problem anymore.

Many popular personalities stated that they're not using crypto but who cares? we do have different preferences on where we will invest our money.