Why does Warren Buffett hate bitcoin?

[Harlot]

He doesn't hate it he simply doesn't believe that its a worthy investment based on what he already now. This guy invests in the traditional way whoch means he only sees value when he sees one based on its Fundamental analysis which we all know Bitcoin doesn't have one. He is very vocal about Bitcoin but nothing kn what he said indicates that he hates ot he simply doesn't see it as some kind of investment for him. And a side not Warren Buffet is also not incesting in IPOs which only shows that he really cares about FAs.

[Pyr3x]

Buffett is a smart man. It's impossible to argue with this, because he earned tremendous wealth with his own mind. But even very smart people are wrong. And he is 89 years old.  I think it's difficult for him to accept something new and not understandable.  I agree, he sees a threat in the new

[Indamuck]

HE has a lot of investments in credit cards and banks, bitcoin directly competes with them.  Everything he does and says is to boost his own pockets.  This guy isn't a kind hearted person, his number one goal is to make as much money as possible even though he already has so much.

[robelneo]

With the fast rate of adoption and Facebook creating their own cryptocurrency, Buffet will end up the only big name that hates Bitcoin, but who cares about this old man, nothing on what this old man says can bring down Bitcoin he is very irrelevant when it comes to Bitcoin topics.

[gentlemand]

His views on this are consistent with his principles so for him to be keen on it at the stage it's in would be strange indeed.

He doesn't invest in gold. He does invest in silver. Silver has more practical use, less speculation and is impossible to substitute in some of the roles it's used in.

Some people have a practical use for BTC. They're in a small minority. Everyone else is waiting for more dollars. That's not his bag and never has been.

[ubay]

Warren Buffet is an old man (an ancient person) who I don't think is aware of the technology behind bitcoin, I think he is silent and doesn't make sayings like "I hate bitcoin". Because he is a famous person and is very common if his followers follow his words.

[Yassin]

when people don't understand technology maybe they will hate Bitcoin, because they feel comfortable with the paper money they have, and what happens if paper money has no value, surely they will lose everything, and they don't want that to happen, maybe that think of W Buffet..

[Juggy777]

If you understand the evolution of money and tulip investing, it all makes sense.

I don’t understand evolution of money and tulip because I’m not an old investor who’s rigid and only believes his thoughts to be right. We often discuss about him hating it, how about discussing that everytime he bashes bitcoin it’s prices fall and then he buys it and sells them when bitcoin prices go high. There’re other influencential people too that hate bitcoin on paper, but why are we obsessed with Buffett only?

[clair508]

Because bitcoin is not a currency that goes according to book or guild-lines.Warren Buffet always reading everything that related to company, that he hoped to invest in company.He said he read 1st annual report of Coca-cola before investing in late 1980s. He is hoping small growing speed and low volatile rate.Normally 0.1%-15% max.But the bitcoin has highest growth rate of any stock.0.001 USD to 20K USDs just in decade of time.This high volatile is not the style of Warren Buffet.Its break of the stocks laws.So I think that is why he don't like bitcoin.

[Digital_Seung]

Because he simply doesn't understand it. He doesn't even comment much on the uses of Bitcoin, instead, he just call Bitcoin some derogatory names. For some reason instead of staying neutral because he doesn't know much about it, he tends to just focus on the negative aspects of Bitcoin: gambling and such.

There are people who hate what they do not understand. In fact, such people can often be seen. Just not all such people speak on TV

[Artemis3]

If you understand the evolution of money and tulip investing, it all makes sense.

know the main reason is they fear for their pile of money other shit dont move there balls its also very simple to understand,

they fear that paper money will lose value from the spike of crypto and adoption of it,

they dont understand tech its simple yet the huge hate will not come from this , its come from fear maybe one day all there money will not worth as it worth today.

They grew up in a world where money can be manipulated by governments and institutions, they fear a world where money cannot be manipulated anymore. This is the same reason they also oppose the Austrian School of economics, or a savings based economy based in a deflationary money like gold instead of a debts based economy where most of the money doesn't exist anywhere (fractional reserve banking).

That, or like some other millionaire late comer, is planning to introduce his own altcoin...

Either way his view is irrelevant. If it was simply fiat losing value, he could just buy crypto, and probably has already, despite speaking ills of it. Because they know they better diversify, and at some to his investments portfolio, just in case...

[philipma1957]

He's said that bitcoin is a rat poison so I assume that he hates it too much. He might not understand what bitcoin really is but there's one thing that we can think of why he hates it.

And that is because bitcoin is against to the traditional investments that he has grown and he has. Another reason can be that he's old enough to understand what bitcoin truly is all about. But someday it might happen that he will take back his words against bitcoin.

Rat 🐀 poison is a good thing if you want to kill off rats.


Btw could you please link me to his statement that  he says that?

🙏 thank you.

[muratsink]

the following is Warren Buffet's statement:
1. Bitcoin is a mirage
2. a real bubble
3. BTC has a bad ending
4. BTC is a dangerous poison
5. BTC is a rat poison
6. BTC is gambling and not investment
Buffets see that BTC is very contrary to  his investment strategy is more concerned with the intrinsic value of a company.

[rodel caling]

Because he accused bitcoin is ponzi scam due high volatility or even he have an own view why he is hated bitcoin as new form of money. I respect him what he want to their opinion about bitcoin but the important is people knows and understands well the important of bitcoin as futire money.

[Krislaw]

If you understand the evolution of money and tulip investing, it all makes sense.

What?, it's different thing man, who has invested on tulip at last they don't legitimated to make sense to judge for bitcoin same like what his investment and making money with tulip are different when they has been trading on bitcoin market over 10 years ago.

[angelo2]

He's a strange person that's why I have no idea. Maybe it's just a fear.

[Altero]

It has to think that BITCOIN is a big investment and can be a big competitor in the market.
Why Warren hate bitcoin is just because they want people not to invest with Bitcoin and the purpose is to make them sell and catch those.
He only wants to make an unfair play will the market, he is one of the crypto whales.

[kaya11]

If you understand the evolution of money and tulip investing, it all makes sense.

We can not blame him, he makes sense, buying something that comes from nothing that you expect other guys would buy it for more is totally insane. How could somebody like me and other people out there that have less knowledge sand thinking skills could fully understand and and fully gain profits from Bitcoin? In fact you might not know either, but warren have his own beliefs so as we, we are expecting Bitcoin to be something worthy later on, we have the the guts to trust on something that is unpredictable that kind of guts is not present to any other businessman like Warren, in short they are mostly rich currently or so we our only commoners who aim to get the wealth of someone's legally through Bitcoin.

[livingfree]

He's said that bitcoin is a rat poison so I assume that he hates it too much. He might not understand what bitcoin really is but there's one thing that we can think of why he hates it.

And that is because bitcoin is against to the traditional investments that he has grown and he has. Another reason can be that he's old enough to understand what bitcoin truly is all about. But someday it might happen that he will take back his words against bitcoin.

Rat 🐀 poison is a good thing if you want to kill off rats.


Btw could you please link me to his statement that  he says that?

🙏 thank you.

That statement was from last year.

https://www.coindesk.com/billionaire-warren-buffett-calls-bitcoin-rat-poison-squared
https://money.cnn.com/2018/05/07/investing/warren-buffett-bitcoin/index.html

[Sithara007]

The problem is that he missed the ship and now he can't get rich from Bitcoin. Had he benefited from Bitcoin, then he won't be ranting like this. Now his problem is that he don't want to purchase Bitcoin above 10K mark, after missing them in 2012 when the price was 1/1000th of the current levels. Also I read somewhere that old grumpy men are more prone to jealousy.