Warren buffett strikes again 😂

[The Sceptical Chymist]

He is old, and only knows investing in stocks,
It made him rich, so having to learn new things is not an issue for him.

Yeah, he seriously wouldn't have a need for crypto even if he was gifted with it--which he was.  And I wouldn't be so quick to slam Buffett for any of that, as his is a pretty neutral viewpoint whether you like it or not.  Nor is he ignorant about what crypto is; the man is both educated and very intellligent, so I respect his dour perspective on bitcoin.

At the same time, I'd have to disagree about bitcoin being worthless or useless.  It's much different than a stock but it's hard to argue that a ton of people think it should carry a high valuation when the market says it should be worth close to $10k.  Anyway.  Respect to Buffett for his success in the stock market.  He's always been an inspiration to myself and a lot of other investors, and he's not typical of the Wall Street crowd by any means.

[Wexnident]

Well, someone like Warren Buffett who only knows about what he is interested in, who only invests on what he actually knows and is willing to know, it's no surprise he is willing to bring down Bitcoin/crypto down. Still, should he actually develop an interest with it, I suppose the guy would actually help develop it in the community, but well, ignorance is quite dangerous at times no?

As for the Bitcoin sent to him by Justin Sun, heck I expect it to have been completely forgotten by him. Even if he did remember, he doesn't really need that amount with all the riches he has after all.

[andulolika]

Warren Buffet generating FUD towards bitcoin is just another proof banks and all his shit conglomerate fear bitcoin.

[mk4]

Warren Buffet generating FUD towards bitcoin is just another proof banks and all his shit conglomerate fear bitcoin.

Ehh, there's a fine line between someone really not liking something, and just straight-off spreading FUD. Warren Buffett is most likely the former. Though Warren Buffett is heavily invested in a good number of banks, he stated a lot of times already that he doesn't delve in things concerning technology simply because he doesn't get it. Let's not randomly throw out the "FUD" card every time someone says something negative.

[Darker45]

I can take three implications from this.

• Warren has simply been consistent with his lack of interest and dislike of Bitcoin.
• Warren's knowledge of Bitcoin remains terribly limited. I guess the same goes to the immediate people surrounding him.
• Which follows that Justin Sun's $4.5 million lunch with him amounted to nothing. Justin failed to teach the old dog a new trick. But credits still to the old legend for making himself available, nevertheless.

So, now that the respected investor sticks to treating Bitcoin as a "store of fear" at best and a "rat poison" at worst, I guess people like Justin should instead focus his attention, effort, and money to the younger generation. The future of Bitcoin and crypto, in my opinion, rests on them.

[joniboini]

So, now that the respected investor sticks to treating Bitcoin as a "store of fear" at best and a "rat poison" at worst, I guess people like Justin should instead focus his attention, effort, and money to the younger generation. The future of Bitcoin and crypto, in my opinion, rests on them.

Good point. 'Old' investors are familiar with stocks and the rest because that's how they got rich. For the average joe like us, it's difficult to even get inside. From an investment point, cryptos are a good alternative. But of course, the youngsters should know about fiat, sound money and why Bitcoin is a good alternative for some transactions. Which is why they have some values.

I don't see why we need to spend time & money to please somebody who clearly doesn't like and doesn't want to change his mind on this matter. Those $4 million or whatever would be more useful for funding development or supporting developers.

[maydna]

I don't think that Warren Buffett doesn't have an interest in the cryptocurrency. As a big investor, I am sure he will search for new ways to get more and more money. He will not stop in stocks only, especially cryptocurrency is a new thing on the investment side, so I think he will search by secretly without anyone knows. Even if he says that he doesn't have crypto and will not use crypto, we cannot just believe what he is saying because I am sure that he has resources that he can use to search more about crypto.

[davis196]

https://www.cnbc.com/2020/02/24/warren-buffett-cryptocurrency-has-no-value.html

So Warren buffett just stated that cryptocurrencies have no value and He does not own any and he never will.

But it is a very well known fact that in February only
Sun gifted Buffett one bitcoin , after striking that deal with him .

So practically he did own 1 btc . I am not sure that he gave them to charity though .

What are your thoughts ?

Warren Buffet isn't relevant anymore.We shouldn't care about his opinion in regards to cryptocurrencies.
Sun tried to pitch his TRON project to Buffet,which was hypocrite.I mean,if you are a true Bitcoin supporter,don't pitch and promote altcoins.I really doubt that Sun ever gifted any BTC to Buffet,or maybe Buffet refused to take the bitcoins.Nevertheless,old people like Warren Buffet are usually very conservative and traditionalist.It would be very hard (or almost impossible) to convince any old guy in the benefits of Bitcoin.

[ShowOff]

I don't see why we need to spend time & money to please somebody who clearly doesn't like and doesn't want to change his mind on this matter.

There is no other word maybe just because you want to try.
But in my opinion they dont have to bother anymore to prove that Warren Buffett wants to change his mind towards bitcoin or is it just a sensation?
If I have to change someone perception then I will not force myself and my time if that person will not change it themselves after 1 or 2 times. Ignoring it might be the right thing if we dont want time to be wasted because of differences of opinion.

[Darker45]

I don't think that Warren Buffett doesn't have an interest in the cryptocurrency. As a big investor, I am sure he will search for new ways to get more and more money. He will not stop in stocks only, especially cryptocurrency is a new thing on the investment side, so I think he will search by secretly without anyone knows. Even if he says that he doesn't have crypto and will not use crypto, we cannot just believe what he is saying because I am sure that he has resources that he can use to search more about crypto.

I do believe Warren is not bluffing. He's an old man who seems to be a genuine and honest person. He does not need to lie about crypto. Why does he have to? At his age and with his achievements in life, I cannot see any point why he will try to keep his cards to himself alone. As a matter of fact, at this stage of his life he is not anymore concerned about making more and more money; he's more concerned about sharing what made him one of the most successful investors in the world. He is already after legacy. He is in fact starting to fulfill what he said before, that he will give away 99% of his wealth to charity.

[Wind_FURY]

I can take three implications from this.

• Warren has simply been consistent with his lack of interest and dislike of Bitcoin.
• Warren's knowledge of Bitcoin remains terribly limited. I guess the same goes to the immediate people surrounding him.
• Which follows that Justin Sun's $4.5 million lunch with him amounted to nothing. Justin failed to teach the old dog a new trick. But credits still to the old legend for making himself available, nevertheless.

So, now that the respected investor sticks to treating Bitcoin as a "store of fear" at best and a "rat poison" at worst, I guess people like Justin should instead focus his attention, effort, and money to the younger generation. The future of Bitcoin and crypto, in my opinion, rests on them.

I believe, if it was possible, Justin Sun should have brought Nick Szabo with him to meet Warren Buffett. He would have conceptualized everything better, and given it a philosophical point of view, than those people he brought.

[betty11]

I respect him as one of the smartest investor if not the smartest in his time. That is just the opinion of one man and that doesn't apply to all. I lost all my hard earned money when I bought bank stocks in 2007 and 2008, when I should have waited till 2009 to buy bitcoin. Today I should have been able to be one of the executive directors of a bank in my country should I have spent the money I wasted in bank shares on bitcoin. Bitcoin is more real than company stocks.

[Debonaire217]

I've just read statements and topics regarding a famous cryptocurrency personality that gifts Warren Buffet a cryptocurrency and from that point, I though his mindset will be changed and will start to consider cryptocurrency as a great asset.

This leads me to search again, some information regarding the topic:

Upon reading to this article, Warren buffet seems to be firm to his decision of not accepting cryptocurrency and what he did when he accepted the cryptocurrency as gift is just to respect the CEO of Tron, and from this, it seems that the CEO has failed to convince Warren Buffet regarding how good cryptocurrency is.

Anyways, I could say, why do we need to get Warren Buffet in the first place? Knowing that he's a person with a huge place in stocks, I think if we're on his situation, we'll just do the same thing and we need to respect that decision.

We can still live and continue our business with cryptocurrency even without him. So IMO, Let's focus on people, basically, to build mass adoption rather than influence those who have already built their decision to stick with their own respective assets. Time will come, and they, themselves could tell the difference of cryptocurrency to what they are holding now, I'm pretty sure they will own crypto as well as I hardly believe that if we push someone to things he didn't like, he will just resist further more.

[Juggy777]

https://www.cnbc.com/2020/02/24/warren-buffett-cryptocurrency-has-no-value.html

So Warren buffett just stated that cryptocurrencies have no value and He does not own any and he never will.

But it is a very well known fact that in February only
Sun gifted Buffett one bitcoin , after striking that deal with him .

So practically he did own 1 btc . I am not sure that he gave them to charity though .

What are your thoughts ?

Warren Buffett is a hypocrite and no I’m not saying this because he’s not a bitcoin fan, I’m saying this based on proven fact. I’m assuming all know of his intent of never giving up on his flip Samsung phone in exchange for a Iphone, but look how he suddenly decides to back out from his words by confirming that he’ll use an Iphone now. Therefore if the community believes anything he has to say regarding bitcoins then I would advise you'll not to believe him, and I have always considered the opposite of what he say in respect to bitcoins hence I urge you’ll to do the same.

Source:

https://www.cnbc.com/2018/01/10/warren-buffet-isnt-eager-to-trade-his-flip-phone-in-for-an-iphone.html

https://edition.cnn.com/2020/02/24/tech/warren-buffett-iphone/index.html

[DdmrDdmr]

<…>

Likely, he knows the effects that his words can have, and rather than admit that he does have 1 BTC gifted to him by Sun, he prefers not to mention it, so as not to give it any positive publicity, bearing in mind that he does not favour investing in it.

To complete a bit more on what he stated here, I saw Justin Sun’s video where he talked about his dinner with Buffet, and the impressions Sun got from that event (I did not watch it live, but saw an uploaded video of the stream: https://www.youtube.com/watch?time_continue=1734&v=0bJ60OuPb-o&feature=emb_logo).

This is a brief summary of the above linked (lengthy and rather dull) video:

He went over the gifts he gave to Buffet: Samsung Fold with cripto, statue of a horse, Chinese chopsticks, a book in Chinese, a plate with Tron’s logo, etc. Buffet gave Sun a book that he always recommends, which is this one if I’m not wrong: http://www.butler-bowdon.com/benjamin-graham---the-intelligent-investor.html

Buffet does not use a smartphone, but rather a pre-app type of phone (of course he does own now a ravishing Samsung Fold). In fact, Buffet is little to none versed in current technology.

In terms of investments, his doctrine is to invest in companies that provide annual dividends, and to focus on those that are market dominant (if they have a monopoly over the market, the better). Being so, Buffet does invest in Apple, but did not do so until Apple did not reach those terms. On the other hand, he does not recommend investing in Tesla (too many core competitors). He normally plays the long game.

Buffet believes that the stock market will continue to be positive, so long as the Federal Reserve keeps low interest rates.

As I said before, Buffet is not a techie by far, but companies that he does invest in are exploring the benefits of Blockchain, and that has settled in to his mind, to the point that he considers that to be a technology that will disrupt the payment and financial systems of today. Nevertheless, he does not consider Bitcoin as an investment, since he does not see it replacing the USD at any point, nor does he see it as an active that will return assured dividends each year.
 

[hatshepsut93]

How can someone take seriously an opinion on technology from a person who doesn't understand and use modern technology? It's like asking a caveman what he thinks about Bitcoin. And it doesn't matter if this specific caveman is ultra wealthy and genius trader, since Bitcoin isn't some stock, it's a protocol, a network, a software and community.

[LoyceMobile]

He stated

“Cryptocurrencies basically have no value and they don’t produce anything,”

You can say the exact same thing about why currency on the planet.

[FanatMonet]

He’s very successful but he’s a dinosaur. He’s not going to be interested in new tech because he doesn’t need to be. Ignore him & his negative comments.

Nevertheless, Warren is a very cool person. His conservatism can also be understood, after all, the fruits of the real economy are much clearer and more understandable for a simple people. Yes, and the niche of cryptocurrencies is already quite busy, but he needs a place so that he can turn around.

[BlackFor3st]

https://www.cnbc.com/2020/02/24/warren-buffett-cryptocurrency-has-no-value.html

So Warren buffett just stated that cryptocurrencies have no value and He does not own any and he never will.

But it is a very well known fact that in February only
Sun gifted Buffett one bitcoin , after striking that deal with him .

So practically he did own 1 btc . I am not sure that he gave them to charity though .

What are your thoughts ?

Well bitcoin or crypto currencies cannot please everyone so we can expect that there will be side that will surely to oppose bitcoin or crypto currencies. Though Warren Buffet is a popular person still he cannot use it to attack bitcoin or crypto currencies because the adoption is spreading very fast like a virus.

Only newbies or those who have no have no interest with crypto currencies will only listen to his words. What I am sure also is that there will be sectors in his business that will be affected if he will accept crypto currencies especially bitcoin that is why he is opposing it as of the moment.

[andulolika]

Warren Buffet generating FUD towards bitcoin is just another proof banks and all his shit conglomerate fear bitcoin.

Ehh, there's a fine line between someone really not liking something, and just straight-off spreading FUD. Warren Buffett is most likely the former. Though Warren Buffett is heavily invested in a good number of banks, he stated a lot of times already that he doesn't delve in things concerning technology simply because he doesn't get it. Let's not randomly throw out the "FUD" card every time someone says something negative.

I believe he said that because he was told to or so was decided by his circlejerk, we have few circles around here and it's noticeable how they all agree on a opinion then promote/impose it it.
Buying and selling thing's and becoming rich of it doesn't make you a good trader, a lucky and pacient one perhaps and that's quite a recipe there.
Not jumping for the gold when you see it is a safer idea.