What is with Buffett and Gates?

[bitcoinbrokeragegroup1]

What does either of them have to gain by saying Bitcoin and other cryptos are a sham? They have more money than anyone else on Earth, and the fact is that cryptocurrencies have made many people wealthy. So how do we surmise that they have created an opinion that hurts the value, therefore taking away value and wealth from others, and to no value for themselves?
I believe that both of them have done a lot of good in the world. They have started programs that include health, education and research in some of the poorest places on Earth. The have brough food, access to clean water, and many other projects, like hospitals and schools.
But I believe that when one is enormously rich, one can believe that they know a lot about everything. They have the notion that they must be right most of the time, and that their opinions are based upon the idea that they became wealthy because they made a lot of smart decisions. And that is quite true.
But postulating on the value and longevity of something that fills a need but is not entirely understood is in my opinion not in their wheelhouse. I think that until crypto is understood and accepted by more people and institutions, people of power should not show ignorance? about something that is developing around them. We may be buying computers and software and stocks in the near future with coins that are being denigrated today.

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[Koadharber]

Every person do have its freedom to say on what he does observe into a particular thing and crypto wont really be an exception where those wealthy man or personalities or famous ones would really have an impact on what they do say about bitcoin and crypto. Just let them be on the things they do say about bitcoin as long the community who do believe on this tech is huge and cant really be easily shake down by those words.

[shield132]

What does either of them have to gain by saying Bitcoin and other cryptos are a sham? They have more money than anyone else on Earth, and the fact is that cryptocurrencies have made many people wealthy. So how do we surmise that they have created an opinion that hurts the value, therefore taking away value and wealth from others, and to no value for themselves?
I believe that both of them have done a lot of good in the world. They have started programs that include health, education and research in some of the poorest places on Earth. The have brough food, access to clean water, and many other projects, like hospitals and schools.
But I believe that when one is enormously rich, one can believe that they know a lot about everything. They have the notion that they must be right most of the time, and that their opinions are based upon the idea that they became wealthy because they made a lot of smart decisions. And that is quite true.
But postulating on the value and longevity of something that fills a need but is not entirely understood is in my opinion not in their wheelhouse. I think that until crypto is understood and accepted by more people and institutions, people of power should not show ignorance? about something that is developing around them. We may be buying computers and software and stocks in the near future with coins that are being denigrated today.

You may know their history, how they achieved so great success. Their every moment was only "develope" and also as your mentioned, their choices were right too. It makes them mentally more confident (that's they key of win sometimes), they look things differently and sometimes don't like things what other people likes and believe they are all wrong. That's my opinion and I think that's a real reason, why does he hates bitcoin. If we think more deeply, it can be because he would never/ever be able to create such an amazing coin.

[_AlexX]

They both became wealthy with the last wave of changes (maybe buffet 1 wave before) and for them, the worlds just works in their way and its hard to adopt to new things.
They are overconfident in themselves (which is not wrong) and maybe blind for change.

Also crypto can become a way, they lose their power in society to someone new. i see tons of reasons why a person with tens of billions of dollars does not want to see or acknowledge change. They became who they are in the current setup.

not all are like that though. i know very wealthy people (forbes top 100) that are definitely flirting with the idea of crypto

[batang_bitcoin]

Yep they are wealthy and why they should worry about others money? It's simple because they are still involved in the market. They want most of the investors believe what they are saying and their influence can't be denied.

Every person do have its freedom to say on what he does observe

Yeah they are free to do but why they are attacking it if they don't really invested on it or they don't have money involved with it. They are concerned with the people? I don't think so.

[bettercrypto]

Yeah they are free to do but why they are attacking it if they don't really invested on it or they don't have money involved with it. They are concerned with the people? I don't think so.

Simply, they want to attract the people based upon their comments. For sure, they said that because they are concern to the people or in bitcoin, but they have desperate attempt. Attempt to poison the people from cryptocurrency. They want the people to withdraw in bitcoin which I think, it is game plan where they want their supporters to pull back and follow them. We know that these two person are really powerful. They make their popularity and treasuries as an asset for them to gain a lot of benefits. Well, we can't blame on their reaction because we have our own opinion.

[pugman]

What does either of them have to gain by saying Bitcoin and other cryptos are a sham?

It is a strategy, which will, I don't know make them more richer..? Isn't it funny when Bill Gates say crap bitcoin while Microsoft is working on their own blockchain technology 

[bobo012]

They have to protect their interest in the old system. They dont want revolution, especially buffet. He wants central bankers to stay on top of the piramid and rule

[Hydrogen]

What does either of them have to gain by saying Bitcoin and other cryptos are a sham?

• Some of Bill Gates and Melinda Gates net worth is defined by the number of shares in microsoft (msft) stock they hold.
• Warren Buffett's net worth is defined by the value of his own stock market traded investment firm Berkshire Hathaway, the amount of stock he owns in other companies & I think Buffett owns some companies as well.

The stock market and bitcoin are competitors in a way. It is possible stock market traders and investors could abandon microsoft stock and Warren Buffett stock to invest in bitcoin, instead. If that happened the Gates and Warren B could lose money and see their net worth decrease significantly.

The rise of bitcoin and crypto currencies could mean some investors could become richer than either Warren Buffett or Bill Gates. Maybe kings on their thrones stand on a mountain top and try to prevent others from dethroning them & taking their place as king of the mountain?

I think Warren Buffett is a nice guy. Years ago he publicly posted his tax info when he didn't need to. Buffett also pushed hard for higher taxes on the rich maybe 10 years ago when it wasn't as major an issue. Bill Gates however, I think he might be crooked. Won't go into details as to why this could be so. But yeah he could be dirty.

[The Sceptical Chymist]

What does either of them have to gain by saying Bitcoin and other cryptos are a sham?

It is a strategy, which will, I don't know make them more richer..? Isn't it funny when Bill Gates say crap bitcoin while Microsoft is working on their own blockchain technology 

Nah, I think they believe it.  Actually I wasn't aware that Gates thought this way, but I certainly knew about Buffett--and they're both entitled to their opinion.  It makes sense that WB doesn't think bitcoin is a good investment, as he's a stock market guy and doesn't see what problems bitcoin solves.  You'd think Gates might be a little more sympathetic, being a computer guy, but whatever.

I don't believe there's any sort of conspiracy here.  I think they got asked by the media what their opinions are on crypto, and they stated what they believe.  I have great respect for both men, and their opinions don't diminish that in the least.

[metenjean]

I think that until crypto is understood and accepted by more people and institutions, people of power should not show ignorance? about something that is developing around them. We may be buying computers and software and stocks in the near future with coins that are being denigrated today.

Its not that they are ignorant about it but more of it because they don't want to focus on crypto issues. People always imitate and try to become successful by trying to follow what successful people do, next thing the media will cover some of their stories with their own words. Bitcoin hasn't regulated yet and based on the volatility shows that it has the highest fluctuation. Sure you can be an overnight millionaire however you could also lose all of your money in a single swoop, and most people only follow what they're told to do without having their own investment plan. Not to mention many people get scammed when the hype about cryptocurrencies resurface. 

[meanwords]

Probably because Bitcoin can sometimes hurt much of the investors. A lot of scams are resurfacing in the crypto space which could lead into bad image in us. I think they just want investors to be as space as possible when they are investing into something. But I personally think they know what a Bitcoin can do, they know that it is a good thing. Maybe when Bitcoin is regulated enough for the good purpose, they might change their opinions about it. I have respect for both. But even if they say that Bitcoin is a sham, it still won't change my mind. I hope you too.

[ivrynx]

Both are traditional investors, they had gained much of their fortune in the stock market, if people will turn to crypto currency rather than investing in their company via stock market, they will really loose a lot of money and will loose support, also they are not that aware on what is happening with the world today, since they have a lot of money, they could just easily give it away for charity, but those who don't will really tighten their grasp. I think it is a matter of perspective really, both their companies, even microsoft can be replaced easily, and I believe that is what elon musk is seeing, and it is also the reason why warren buffet questions him.

[pugman]

Nah, I think they believe it.  Actually I wasn't aware that Gates thought this way, but I certainly knew about Buffett--and they're both entitled to their opinion.  It makes sense that WB doesn't think bitcoin is a good investment, as he's a stock market guy and doesn't see what problems bitcoin solves.  You'd think Gates might be a little more sympathetic, being a computer guy, but whatever.

I don't believe there's any sort of conspiracy here.  I think they got asked by the media what their opinions are on crypto, and they stated what they believe.  I have great respect for both men, and their opinions don't diminish that in the least.

Well,Bill Gates has said that he likes and dislikes bitcoin,in a rather indirect way. Someone even gifted him a bitcoin on his birthday apparently.

The thing is that both Bill Gates and Warren Buffett think that bitcoin doesn't belong to the asset class,which explains why they are against bitcoin/crypto. Some people believe in that,some don't. Everyone is speculative in their own way,so opinions of others changes their way of thinking,which again influences things in the right/wrong direction.

[magneto]

What does either of them have to gain by saying Bitcoin and other cryptos are a sham? They have more money than anyone else on Earth, and the fact is that cryptocurrencies have made many people wealthy. So how do we surmise that they have created an opinion that hurts the value, therefore taking away value and wealth from others, and to no value for themselves?
I believe that both of them have done a lot of good in the world. They have started programs that include health, education and research in some of the poorest places on Earth. The have brough food, access to clean water, and many other projects, like hospitals and schools.
But I believe that when one is enormously rich, one can believe that they know a lot about everything. They have the notion that they must be right most of the time, and that their opinions are based upon the idea that they became wealthy because they made a lot of smart decisions. And that is quite true.
But postulating on the value and longevity of something that fills a need but is not entirely understood is in my opinion not in their wheelhouse. I think that until crypto is understood and accepted by more people and institutions, people of power should not show ignorance? about something that is developing around them. We may be buying computers and software and stocks in the near future with coins that are being denigrated today.

Warren Buffett and Bill Gates both seems to think that bitcoin is not an investment because it does not produce dividends, which is absurd in my opinion at least. They've held similar opinions in the past about gold, silver, and precious metals, and this is anything but surprising for me to hear.

I think that they completely overlooked BTC's function as a store of value, and also as a currency. They seem to think that investments have to produce some sort of dividends for it to be valid.

Nothing is wrong with them commenting on BTC, if that's what they truly believe. Everyone is entitled to have their opinion, wealthy or not. I honestly wouldn't be surprised if both are currently taking a short position on BTC as they make these negative comments to make a profit as well. But if they actually believe in what they say - it's their opinion, but they'll miss out on huge profits in the future for not supporting BTC and crypto related businesses.

[bitbunnny]

For some reason and maybe because of their history we think that people like Buffet and Gates should strongly support Bitcoin and cryptocurrencies. And when they don't we get disappointed.
But the truth is that they are not such big authorities in the field of cryptocurrencies and from my perspective their opinion is not so much relevant. And you can't never know what are their hidden reasons for such attitude towards Bitcoin.
I think they both live in their own worlds that sometimes don't have much to do with reality.

[DogmaF10]

We all know as they are 2 of richest peoples in the world, its likely they are free to say anything, especially when it comes to economical things, where you can earn money, starting a business etc. When you are super rich, everything that came out from your mouth would consider as gold, when you are poor, well you better say nothing

[Sharcade02]

What I think is, Bill Gates and Buffet are just afraid what could happen with their investment.

[ivrynx]

What I think is, Bill Gates and Buffet are just afraid what could happen with their investment.

I agree, they are somewhat afraid of what could happen to their investments, since all their life they had focused on what their companies could give and crypto currency is a great threat to them, once people stop investing in their company and found out that their are other options wherein they could also get a huge amount of fortune, people will move their funds, and their company's value will be affected. I also see that for them they had missed out a great opportunity, they wanted to lower the valud sincd they can still influence a lot of people due to fact they are a prominent figure in business and investing, they might want to have a good entrt point, just like what mark cuban did before.

[tdtduy]

I think nothing happened between Buffett and Gates. They do not care much about the Cryptocurrency and Bitcoin markets. Therefore, their statements are personal and do not harm anyone. And these two men have relatively similar views about investing, that is, do not invest when the two investors have a close friend relationship. Simply so.