Why are Bill Gates & Buffet anti-crypto? Heavily invested in the current system

[Lucius]

People who support cryptocurrency should not listen to people like Buffet or Gates, they don’t need and don’t understand Bitcoin, they king is fiat and so will always be. Everything Bitcoin represents is the exact opposite of what they believe, and that is the power of banks, large and powerful corporations who rule the world because they control the financial system.

Ask yourself why anyone would want to relinquish such power? They are rich because the system allows them to achieve this, and their wealth is steadily increasing, while the number of poor people in the world is increasing.

You should also not be misled by charity work in which these two are involved, it is like a joke when I see some of them give $1 million to charity, same as any of us give $10 or something like that. They are ordinary hypocrites, and their opinion on Bitcoin is completely irrelevant.

[7788bitcoin]

So Warren Buffet is anti-cryptocurrency because he is the single most invested person in the current system. (One reason I think Justin Sun is an idiot.. Buffet isn't going to change his mind)

The Pharmacist termed it perfectly, Justin Sun like these publicity stunts and hence he is spending money to meet Warren Buffet thinking that he will be able to sway an old man into changing his policies and ideologies about investment in his late age, he made a fortune in the stock market but when it comes to bitcoin it is a different market altogether as you really cannot predict the growth.

[Cityhunter123]

Most likely because they do not own this sphere and therefore hate it

[Linkkoin]

Whales can manipulate the price by pump&dump.
Buffet and Gates are way too wealthy and smart and they realize that bitcoin is still a promising project,surrounded with a lot of hype.It still has to grow and improve and it will face many obstacles.

Btw. Pump and dump is banned on the stock market for couple of decades already.

[audaciousbeing]

So Warren Buffet is anti-cryptocurrency because he is the single most invested person in the current system. (One reason I think Justin Sun is an idiot.. Buffet isn't going to change his mind)

But just found it very interesting watching the Bill Gates netflix tutorial and Buffet is saying that they are good friends AND that the bill gates foundation is heavily invested into Berkshire Hathaway since they own roughly half of Buffet's stock in the company...

Funny how most of the anti-cryptocurrency people are heavily invested in the current system if you look closely...

Individuals like Warren Buffet and Bill Gates are people who are beyond mere investors while Warren has been known to be a wizard in investment and finance, Bill on the other-hand came to wealth for his entrepreneurial skills which is one of the best we have seen in a generation. For me, I won't blame them especially Warren for maintaining a position because this is a way that they have known all their life and its something that has worked for them against all odds. If I am the one, I would want to protect the base to the best of my ability even though I don't believe in it. Warren investment model is something several people have used and it has worked for them and its grouse against bitcoin is not personal, its just business just what every capitalist and potential capitalist would do if in the same position.

[ashmodeus]

So Warren Buffet is anti-cryptocurrency because he is the single most invested person in the current system. (One reason I think Justin Sun is an idiot.. Buffet isn't going to change his mind)

yes, i also think same. 
but, besides it, probably justin just want gain more popularity for inviting a big man lunch.
“I love Warren Buffett, he is my idol. I just wanted him to buy crypto so people would say that Justin Sun was the person who made Warren Buffet buy crypto.”
i mean, how people such as warren buffet will change his mind with single lunch like that.

But just found it very interesting watching the Bill Gates netflix tutorial and Buffet is saying that they are good friends AND that the bill gates foundation is heavily invested into Berkshire Hathaway since they own roughly half of Buffet's stock in the company...

Funny how most of the anti-cryptocurrency people are heavily invested in the current system if you look closely...

hmmm, i have no idea .
i just cant imagine how they are think about a "good investement"
but well , about their statement for cryptocurrency , who can declined it ?

[ILuckyGuyI]

I have no doubt that they appreciate the technologies of cryptocurrencies but they probably don't want to risk their money by investing in this market. If this situation changes in the future, maybe they can start to believe in cryptos.

[Little_king]

i dont blame them as everyone believe cant be the same sothey have reason to choice their own way to the very best idea they believe in bit this crypto to me is a treat to those big man andwhy they kind of not supporting it in any way .

[btc_angela]

I have no doubt that they appreciate the technologies of cryptocurrencies but they probably don't want to risk their money by investing in this market. If this situation changes in the future, maybe they can start to believe in cryptos.

Blockchain? I'm sure Bill Gates appreciate that because he is more a techy guy as compare to Warren Buffet. But Warren is very traditional that's why the hate on bitcoin or everything that is digital. He doesn't understand how it works and he believes that it is not money per se. And I don't think that he will change his stance though, he is more of a stock guy and I doubt that we will hear a sudden stance against crypto. But it's fair though, he doesn't have the impact on the market today, unlike in 2017 wherein every word spewing in his mouth against bitcoin will result in a decline in price.

[vladimirhf]

Because they are old, maybe? Microsoft has made countless wrong choices for decades, their successful products are still the same. They buy something successful and ruin it. Why do people insist on believing that billionaires should always be right? They got it right in the past and have enough to make mistakes often because the system protects them in so many ways.

[Ridwan Fauzi]

Let make an imagine, our situations who know cryptocurrency and we have invested on this industry will claim that the other investment place beside cryptocurrency are not good to be invested just because we have a perspective the investment places are have centralized system. So, we will glorify bitcoin and altcoins as the place for our place to store money.

However, for those who have invested their money and the have gain a lot profit from it will tell cryptocurrency is the risky was to be made as investment place. That is common thing that will happen as long as the regulation against cryptocurrency will be comes and many people have a consider that the cryptocurrency is the safe place as an investment. This is just the matter of time and we have to respond to the problem simply, let them think and conclude with the knowledge they have and we as well.

[marcbitcoins]

They say that they don't like Crypto but we don't know if in reality they are also investing to it. Bill Gates don't like Crypto but he knows that his Microsoft company is benefiting much with the blockchain technology as most crypro users are using his OS and here is Buffet that he don't like Crypto but his companies are accepting Bitcoin payment.

[BenCodie]

If you understand the way Warren Buffett invests, you'll realize why he doesn't like bitcoin--it's not a business, doesn't have earnings, doesn't pay a dividend, and is totally at the mercy of market forces (unlike a stock which can gain in value if the underlying business grows).  Plus he doesn't view bitcoin as solving any of his problems.  He's a value investor.  Always was and will be until the day he dies.

As far as Gates is concerned, I don't know exactly what he's said about cryptocurrency but my guess is that he doesn't have to invest in it and, because it's so damn volatile, would probably lose a hell of a lot of money if he did.  Ultra-wealthy people tend to try to protect their wealth instead of gambling on high-risk investments.  I think at least Gates has an appreciation of bitcoin and the technology behind it, but it's just not something he needs in his portfolio.

Didn't microsoft accept crypto for purchases at one point 

[Ken_terrance]

If you understand the way Warren Buffett invests, you'll realize why he doesn't like bitcoin--it's not a business, doesn't have earnings, doesn't pay a dividend, and is totally at the mercy of market forces (unlike a stock which can gain in value if the underlying business grows).  Plus he doesn't view bitcoin as solving any of his problems.  He's a value investor.  Always was and will be until the day he dies.

As far as Gates is concerned, I don't know exactly what he's said about cryptocurrency but my guess is that he doesn't have to invest in it and, because it's so damn volatile, would probably lose a hell of a lot of money if he did.  Ultra-wealthy people tend to try to protect their wealth instead of gambling on high-risk investments.  I think at least Gates has an appreciation of bitcoin and the technology behind it, but it's just not something he needs in his portfolio.

Good point the pharmacist but i will really like to know what is in your own mind, you've been around for a very long time and you know the ins and outs of crypto entirely, what do you have to say about bitcoin? is Bill and buffet point of view about crypto right or they just lack knowledge about it?

[bedroid]

I recall watching a piece on CNBC a few years ago where Bill Gates said he was excited about the promise Bitcoin and blockchain technology. Microsoft is even getting involved with blocchain so I'm not sure why it was states that bill Gates is any-crypto. I don't believe that is accurate ( I could be confused but am pretty sure this was the case the best I can recall ). I googles it to find the video but didn't see it. Didn't look to hard though...

[Kakmakr]

The Warren Buffet and Bill Gates friendship is purely based on wealth preservation.    Bill Gates and Warren Buffet both buy struggling or small businesses and then they build it to a power house and then they sell it for a profit. Can you still remember how Microsoft bought out all their competition and then used that technology in their operating systems. 

They want to invest in something physical that they can control and they both know this is not doable with Bitcoin, so for this reason they are against it as an investment. <It is something new and unknown> 

[fullhdpixel]

So Warren Buffet is anti-cryptocurrency because he is the single most invested person in the current system. (One reason I think Justin Sun is an idiot.. Buffet isn't going to change his mind)

But just found it very interesting watching the Bill Gates netflix tutorial and Buffet is saying that they are good friends AND that the bill gates foundation is heavily invested into Berkshire Hathaway since they own roughly half of Buffet's stock in the company...

Funny how most of the anti-cryptocurrency people are heavily invested in the current system if you look closely...

I guess that the two of them have mostly been making their money through means that is possible for cryptocurrency or bitcoin usage to block, the kind of freedom that bitcoin is bringing, it will surely altar some of the things that these guys are selling to make money. Let us look at banks and the gadgets that they use, it is being produced by someone, the computers they use, bill gate makes money from every of its supplies and the Microsoft that they use too.

Bitcoin cutting them off now since most of us will have direct access to our wallet and be able to control it personally is one of the things that will make them never to support bitcoin because it make their sales to reduces, but there is little to which they can do anyway, bitcoin cares more about the oppressed and the system of bitcoin is one that cannot be manipulated.

[Chrystora123]

Let this technology achieved by the hands of youngsters (well, a sample of Zuckerberg for his upcoming coin), let the old ones decide what they believe into their traditional investments.

absolutely right, let's leave the old ones with their traditional investments..  from the lifestyle and products they created, we already know that they are both (Bill & Warren) pure capitalists, while Bitcoin is social anarchy that was created from the beginning with the aim of making everyone independent.  why does Zuck support the development of Libra??  this is because Zuck has a social understanding of anarchy. 

I see billionaires who support cryptocurrencies who have a social sense of anarchy and the products they create are the very opposite of capitalists.  Elon Musk is one of them, in his Twitter post he tweeted Ethereum and was seen replying tweets with Vitalik, I don't know what Elon Musk is investing in cryptocurrency, but his view of cryptocurrency is very positive.

[Zionatin]

Maybe because you cannot manipulate crypto the same as you can with stocks and other investments. Crypto is more volatile and has other factors affecting its value. These are people that prefer to invest in something with a physical backing or basically a company. Since bitcoin and most other crypto doesn't have the backing of a company they won't invest. Times are still young though and there will be plenty projectss coming up with plenty of backing and a strong currency to back it up instead of just empty promises. I do not think that crypto is a good investment for the super-wealthy. They have enough anyway they don't need more.

[Thefrolly]

Bill gates and Buffet being anti crypto is just another set of normal individuals being anti crypto. It should really be a big deal. Everyone is entitled to their own opinion, and that's theirs. They shouldn't really be criticized for it. and come to think of it, not like their opinion is going to relatively increase or decrease the price of cryptocurrencies in the market, so why make it a big deal?