What Warren Buffett Gets Wrong About Bitcoin

[Nerman]

Warren Buffet is one of the smartest and successful investors in the world. Not only that but he is also one if the richest man in the world. I can say that i have followed some of his advice specially on stocks and CFD but one i can say is warren buffet is not a high risk trader and indeed every trade he made that are publicly known are really calculated. Since Bitcoin is fairly a  new technology he cannot compare it to another asset.  He is an old man and to successful to bother studying and researching about bitcoin and thats why his bitcoin opinion would not matter to me.

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[specimen23]

i m not surprised about Warren's commment. He is not inclined to information technology, and he doesnt know JACK about blockchain.

[SUDARMONO]

maybe some people initially also look like that, but the facts are also true and there is the other side of the best is the best investment place in my opinion, from the beginning the price of the emergence of bitcoin up to now has increased multiples, and bitcoin many make billion new in this world that early from the beginning has invested bitcoin, it is very good.

[batang_bitcoin]

I respect him as one of the most influential person in the world. A net worth of $80.7 billion this year isn't a joke and if he's opinion about bitcoin is totally far from what it used to be. He needs to spend time more in front of the computer to let him understand what bitcoin really is. He can even change his belief about bitcoin and bring out a statement that he's wrong with his first thought about bitcoin.

He does not need to spend any time in front of the computer I guess, because he has all the advisory staff that can search for something that they don't already know. He does not need to change his way of thinking about bitcoin because it doesn't matter to him. He has already reached a such high standard of living that he doesn't need to search for some investment that's unfamiliar to him. If he's negative about bitcoin it's only bad for us, not for him. What bitcoin needs is time and mass adoption yet.

He just can't trust his staffs regarding it, the knowledge from himself alone is better way to understand what's happening on the trend. Many are thinking here that he's going to be a big vacuum for a lot of investors when he talks about good things with bitcoin, it can really pull a lot of investors but in this situation that's opposite way.

~snip~

Someone's traditional fiat wealth doesn't say anything, even not in this case. If one thing is sure, then it's the fact that old people, regardless of who they are, are very difficult to change when it comes to their view.

He's so old and wealthy, that it doesn't, and shouldn't bother him whether the general public thinks he's right or wrong. It's more that the people are annoyed than Mr Buffet himself, and that's not his problem.

For me his words hold zero value when it comes to Bitcoin, because I know better, but also know that he is never going to change his way of thinking ~ people should just let it go. It's a wasted effort.

It has zero value for us but for those people that are starting to have interest with bitcoin that's something of a big and official opinion. We do know in this world that people who are wealthy has power to tell what's wrong and what's right to the people who are in the middle to low line.

[ZaynDale]

Warren Buffet and with other rich people around the world is concluding that Bitcoin and Altcoins are nothing but a bubble. It's his own perspective view since mpney can be earn only through hard work with special skills. He's referring it to Bitcoin investors that investors should be careful about investing into quick rich or bubble money that has very high risk of losing anytime of the day.

[dimastegar]

Bitcoin has been talked about ever since its price has risen slowly. With the growing interest of investors worldwide Cryptocurrency from various countries. Because Bitcoin prices were once small, maybe that's why Buffett was less optimistic at the time. And now if he's still holding BTC, maybe he'll be more optimistic for the future.

[Yankeestyle]

I respect him as one of the most influential person in the world. A net worth of $80.7 billion this year isn't a joke and if he's opinion about bitcoin is totally far from what it used to be. He needs to spend time more in front of the computer to let him understand what bitcoin really is. He can even change his belief about bitcoin and bring out a statement that he's wrong with his first thought about bitcoin.

He does not need to spend any time in front of the computer I guess, because he has all the advisory staff that can search for something that they don't already know. He does not need to change his way of thinking about bitcoin because it doesn't matter to him. He has already reached a such high standard of living that he doesn't need to search for some investment that's unfamiliar to him. If he's negative about bitcoin it's only bad for us, not for him. What bitcoin needs is time and mass adoption yet.

He can't believe his staffs with respect to it, the learning from himself alone is better approach to comprehend what's going on the pattern. Many are thinking here that he will be a major vacuum for a great deal of financial specialists when he discusses great things with bitcoin

He just can't trust his staffs regarding it, the knowledge from himself alone is better way to understand what's happening on the trend. Many are thinking here that he's going to be a big vacuum for a lot of investors when he talks about good things with bitcoin, it can really pull a lot of investors but in this situation that's opposite way.

~snip~

Someone's traditional fiat wealth doesn't say anything, even not in this case. If one thing is sure, then it's the fact that old people, regardless of who they are, are very difficult to change when it comes to their view.

He's so old and wealthy, that it doesn't, and shouldn't bother him whether the general public thinks he's right or wrong. It's more that the people are annoyed than Mr Buffet himself, and that's not his problem.

For me his words hold zero value when it comes to Bitcoin, because I know better, but also know that he is never going to change his way of thinking ~ people should just let it go. It's a wasted effort.

It has zero value for us but for those people that are starting to have interest with bitcoin that's something of a big and official opinion. We do know in this world that people who are wealthy has power to tell what's wrong and what's right to the people who are in the middle to low line.

[kenkoy]

Someone who invests so much money and time to stocks is hardly can accept Bitcoin and cryptocurrency. he is entitled to his own opinion, however, his opinion values so much to his followers. Somewhat, this can also affect Bitcoin value.

"You can’t value bitcoin because it’s not a value-producing asset."- Warren Buffet. The stock master is somewhat confused about here, Bitcoin is being valued as its technology has great potentials than any other asset there. Decentralized, secured, anonymous.

[bitcub]

I believe Warren Buffet is a Bitcoin holder. Wayback 2001 when Warren sell everything to buy the collapsed Market due to Terrorist attack. The market recovers, look what happened to Warren's investment. He become one of the world's richest man.

I do believe he bought a large amount of BTC before it become so huge right now.

[mashort]

Warren is entitled to his opinion and i dont think everyone has to get it right. no innovation in history has ever been supported by many. when you look about any innovation, it starts with a small group of enthusiasts and believers who are mainly ignored and off the radar, before everyone knows it, it has become mainstream.  any innovation that begins from big corporate or government honchos rarely survives.  so Warren's thoughts actually strengthens my believe in Bitcoin and blockchain even more.

[salihno71]

Most of the big sharks in the financial world are making one essential mistake - they define the bitcoin through the terms they know. They try to understand it as a bond or as a stock. They don't see it as something essentially new and different.

[niisarearning]

Even nobody can predict about bitcoin i am working in IT sector where most of the people involved with technology but most of them were saying its just a bubble or Ponzy scheme . After massive growth in bitcoin price now most of them interestd but cant able to afford bitcoin . Most of the veterans failed predict bitcoin . So new millionaires and Billionaires happened because of bitcoin.

[bitvalak]

We know Warren Buffet is a big player in the investment world. It is undeniable that he is very smart in choosing what he should do to market behavior. But the difference here is the virtual world business and the real world. Buffets are more realistic to choose a business in the real world like a property than have to invest business in cyberspace. And bitcoin is not a market where it can be easy to analyze.

[yyz13857180757]

Everyone has his own opinion.He thinks the government is his friend. He's too old to know how this new technology works.
 

[Pursuer]

sometimes these public figures that talk about bitcoin and make statements like this have other motivations behind what they say. to be honest I would not be surprised to learn that they had some government affiliation and was forced to make such statements against bitcoin.
of course there is also always the possibility of them trying to manipulate the market in their own advantage to make some profit out of it. he wouldn't be the first one to do it for sure.

[Lucius]

His opinion and attitude about BTC for me is not really important,I hope he'll be able to see how he was wrong if he live long enough.Like many others similar to him who are not willing to change and accepting that there is something new and better,they only represent a weak opposition of minds.When Buffett say in 2014 to investors to stay away from BTC, I bet many listen him,today they are certainly not happy about it.

He is just one 87 years old man which is already with one foot in the grave,I hope he will not express his "expert opinion" for long time.

[jseverson]

Did he offer a more recent opinion? When did he say his initial thoughts? I'm guessing it's a few hundred or thousand dollars to one Bitcoin less before. That might have been the case then, but it has recently cemented its status as a great investment and storage of value.

I respect Warren Buffet tremendously, and I can't really fault him for viewing Bitcoin in the way Satoshi envisioned it. It has obviously become much more.