Why Warren Buffet Dismissed Bitcoin

[CryptoBry]

As more people become enlightened with the virtues that Bitcoin offers, the number of cryptocurrency enthusiasts is growing exponentially. However, many big-time investors remain uneducated about the cryptocurrency. One notable example is the magnate Warren Buffett, who is ignoring the potential of Bitcoin and remains unconvinced about Bitcoin’s amazing qualities.

“You can’t value bitcoin because it’s not a value-producing asset.” Then, he referred to Bitcoin’s spectacular upward trend as a “real bubble in that sort of thing,” MarketWatch reported.

It is not the first time that the Oracle of Omaha has failed to see the potential that innovation and new technologies can offer. For example, Buffett previously failed to appreciate the potential of technology and social media stocks, such as Google and Facebook. Now, Buffett recognizes that excluding technology stocks in the Berkshire Hathaway’s portfolio has been one of his worst mistakes.

While discussing his failure to buy Google, at the time Google’s founders approached him to participate in the IPO, he admitted failing to act due to his ignorance. In this connection, Buffett said: And so I had plenty of ways to ask questions or anything of the sort and educate myself, but I blew it. Buffett also explained missing the opportunity to buy Amazon, by saying that he had been “too dumb.”

Source is here.

I have a deep respect for this man named Warren Buffet as he is one of the most famous personalities and a reference when it comes to investing. However, just like many who are sticking so much to traditional way of doing things (nothing wrong with it though) and excluding new innovations like cryptocurrency, he is committing a big mistake here.

He is obviously avoiding something that he failed to understand and that explains why he is criticizing Bitcoin as just a bubble. Obviously, he is old enough not to care to know more about cryptocurrency...and we have to admit that maybe he feel that this is not his thing.

As they say, Bitcoin is for everybody but not everybody is for Bitcoin!

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[davis196]

Because he is a "fiat money" guy.The traditional fiat money system with central banks and investment funds makes him more and more rich.Usually he doesn`t invest in innovations and brand new businesses.
He stays away from the IT industry and we can`t judge him about that.

[farhaan]

Warren buffett is a successful investor regarding stock market.His words are deeply respectedamong investors all around the world.But he has vast knowledge in investing in traditional companies and he don't understand about new technology related investments and companies.

So,he has avoided investing in such companies through out his life time.So,its not a surprise for him to avoid investing in bitcoin and also advising others to avoid bitcoin.

Definitely,he is missing huge benefits by avoiding bitcoin.But he is clear in his decision to invest only in stocks or investments of which he has sound knowledge.

[lobo13hf]

As more people become enlightened with the virtues that Bitcoin offers, the number of cryptocurrency enthusiasts is growing exponentially. However, many big-time investors remain uneducated about the cryptocurrency. One notable example is the magnate Warren Buffett, who is ignoring the potential of Bitcoin and remains unconvinced about Bitcoin’s amazing qualities.

“You can’t value bitcoin because it’s not a value-producing asset.” Then, he referred to Bitcoin’s spectacular upward trend as a “real bubble in that sort of thing,” MarketWatch reported.

It is not the first time that the Oracle of Omaha has failed to see the potential that innovation and new technologies can offer. For example, Buffett previously failed to appreciate the potential of technology and social media stocks, such as Google and Facebook. Now, Buffett recognizes that excluding technology stocks in the Berkshire Hathaway’s portfolio has been one of his worst mistakes.

While discussing his failure to buy Google, at the time Google’s founders approached him to participate in the IPO, he admitted failing to act due to his ignorance. In this connection, Buffett said: And so I had plenty of ways to ask questions or anything of the sort and educate myself, but I blew it. Buffett also explained missing the opportunity to buy Amazon, by saying that he had been “too dumb.”

Source is here.

I have a deep respect for this man named Warren Buffet as he is one of the most famous personalities and a reference when it comes to investing. However, just like many who are sticking so much to traditional way of doing things (nothing wrong with it though) and excluding new innovations like cryptocurrency, he is committing a big mistake here.

He is obviously avoiding something that he failed to understand and that explains why he is criticizing Bitcoin as just a bubble. Obviously, he is old enough not to care to know more about cryptocurrency...and we have to admit that maybe he feel that this is not his thing.

As they say, Bitcoin is for everybody but not everybody is for Bitcoin!

You must remember that grandpa will never try to understand about the concept of crypto since the grandpa is still believing with his silver, In many statement the warren buffet already said about his silver was better than the bitcoin itself. But the fact that with each bitcoin and you will get a lot of silver.
The old person with old economic knowledge.