Bitcoin: Does Warren Buffet change his mind?

[sifprod]

 The famous American investor changed his mind about Bitcoin. In the past, he was fiercely opposed to cryptocurrency. He did not find it tangible, and he preferred the actions of large companies at a promising price.

Recently, his investment fund sold a portion of its Visa and Mastercard shares. He then proceeded to buy shares in Nubank. Nubank is the largest fintech bank (finance and technology) in Brazil. But it is also the most popular among Bitcoin investors.

https://www.nwscoin.com/2022/02/bitcoin-does-warren-buffet-change-his.html

[franky1]

what if..
.. if buffet was right all along.

bitcoin is rat poison squared

its not saying that bitcoin is a vile rat. its saying its the thing that can kill the vile rats
rats are a Risk Averse Trader.

where commuting to work at the finance districts is called 'doing the rat run to work'
or when fiat traders jump out of a stock "rats jumping ship"

[OgNasty]

The famous American investor changed his mind about Bitcoin. In the past, he was fiercely opposed to cryptocurrency. He did not find it tangible, and he preferred the actions of large companies at a promising price.

Recently, his investment fund sold a portion of its Visa and Mastercard shares. He then proceeded to buy shares in Nubank. Nubank is the largest fintech bank (finance and technology) in Brazil. But it is also the most popular among Bitcoin investors.

https://www.nwscoin.com/2022/02/bitcoin-does-warren-buffet-change-his.html

I think more likely he's looking at their revenue growth and wanting to take part.  He doesn't see it as a way to invest in crypto, but to make money off those that do without exposing himself to crypto.  Charlie Munger has been very open with his opinion that Bitcoin is the worst of the worst in the investment world.  I think he'd shit his pants (literally) if Warren Buffett started investing in crypto.  

When you have as much money as Berkshire Hathaway, it's difficult to not have exposure to basically every asset out there in one way or another.  I don't see this as a sign Buffett is getting into Bitcoin, but that crypto is creeping more and more into his investment portfolio through traditional companies expanding their services.  

If Coca-Cola added Bitcoin to their balance sheet, I wouldn't expect Berkshire to sell their holdings, but I wouldn't say that Buffett is invested in Bitcoin either.

[DooMAD]

There's a difference in my mind between "fintech" and Bitcoin.  The distinction for me is that fintech largely consists of a bunch of middlemen attempting to leverage or co-opt technology to enrich or empower themselves at the expense of the wider populace.  Bitcoin was designed to be the opposite of that.  So yeah, Buffett and Munger like Fintech.  They don't like Bitcoin.

Article is so crap they can't even spell his name right.   

[tabas]

what if..
.. if buffet was right all along.

bitcoin is rat poison squared

its not saying that bitcoin is a vile rat. its saying its the thing that can kill the vile rats
rats are a Risk Averse Trader.

where commuting to work at the finance districts is called 'doing the rat run to work'
or when fiat traders jump out of a stock "rats jumping ship"

Possible and that must be the description that we haven't understood before when he spoke ill against bitcoin. But this is just like a normal investor expanding his empire.
Just because it's popular to bitcoin investors, it doesn't mean that Warren is on it for bitcoin. The company itself is making its own share to Warren's pie and I don't think that it's about bitcoin.

[franky1]

buffets mindset works like this

he doesnt believe in investing in say wheat/beef. because if a farms doesnt produce that year, he has no wheat/beef to sell,
meaning nothing to make profit on to cover next years costs of continued output

however he would invest in the farm. because if you take away the wheat/beef, he still has assets in the land, the buildings and the equipment. which he can still use as collateral. even if there was no wheat/beef the previous year to sell

so even though he knows wheat/beef is investable. he would prefer to invest in the farms/businesses that make/sell wheat/beef. as a double protection

this is why you also see soo many investors try to copy buffet business philosophy when they invest in crypto businesses instead of buying just the crypto

its why you see people try to invest into ICO projects rather then the ICO coin itself
the only issue with that is that most ICO scams have no collateral beyond one guy on a laptop.

many crypto projects are not formal businesses that own office space, equipment, assets that can be quantified and sold off if a business fails. because most crypto projects are volunteer based, of random people not under contract using their own personal devices, not company property. thus no equipment or property under collateral

[dothebeats]

Perhaps not. He only wanted the profits and not really the tech and ideology. Knowing how he expanded his empire, he's probably just using the hype and all the attention bitcoin has been receiving to maximize his profits. He's still a solid fiat slave and will probably be pushing for government to take over on almost all things since he's received solid backing from them to expand his business, too. I wouldn't trust him to be as accepting to bitcoin as he is to gold or stocks, not unless he bought his own coins and not manage or buy companies that are only related to bitcoin.

[logfiles]

Does his opinion about Bitcoin matter anyway? Whether he keeps making negative opinions about cryptos or "changing" his stance about Bitcoin. I don't think it does matter. The long term success of Bitcoin can't be affected by opinions of a few old school folks, so this shouldn't even make news at all.

Just like if Elon Musk tried to tweet positively or negatively about Bitcoin right now, do you think markets would react like it was in the past? I doubt.

[franky1]

Does his opinion about Bitcoin matter anyway? Whether he keeps making negative opinions about cryptos or "changing" his stance about Bitcoin. I don't think it does matter. The long term success of Bitcoin can't be affected by opinions of a few old school folks, so this shouldn't even make news at all.

Just like if Elon Musk tried to tweet positively or negatively about Bitcoin right now, do you think markets would react like it was in the past? I doubt.

at this moment. buffet is not much of an effect. because buffets effect is on traders that buy stocks and shares. and because there is not much of a truly viable bitcoin ETF industry available, those traders cant really put much investment into bitcoin anyway, because there is no regulated/insured investment trust for pension portfolio managers to buy into

however elon as a private rich citizen talking about personal investments. speaks to many other rich people who are looking to follow elons path to riches. so those types of people can be affected. (though small in numbers, large in volume)
but luckily majority of them are not easily swayed by a tweet
most of them monitor other richguys SEC filings of investments. long before it hits the public twitter feeds.
they know when someone is shouting buy X on twitter.. its because the shouter has already bought along time before and is looking for a price pump so the shouter can exit/sell.
or if twitter feeds are saying "dont buy" its because they shouter doesnt want the competition. because they want cheap coins to remain so they can hoard up more before the competition jumps in

so the majority of smart people just dont listen to those cries on media platforms, as its too late to buy in when someone is publicly shouting to buy.
(after all if you found a cave of gold just siting there easy to pick.. would you tell others about it before you were able to grab as much as you could cheap.. ofcourse you wouldnt tell others early on. because then you are causing competition for yourself)

but some smart people would be watching if you were buying up some land near a known gold vein, and then follow you by buying nearby land too

[Kemarit]

Does his opinion about Bitcoin matter anyway? Whether he keeps making negative opinions about cryptos or "changing" his stance about Bitcoin. I don't think it does matter. The long term success of Bitcoin can't be affected by opinions of a few old school folks, so this shouldn't even make news at all.

Yeah, this is no longer 2017 wherein every opinion of these so called billionaire stock traders are taken very high. Now if we hear Warren in media, we just shrug our shoulders and move on.

Just like if Elon Musk tried to tweet positively or negatively about Bitcoin right now, do you think markets would react like it was in the past? I doubt.

Elon Musk lost his touch already, if any, then only a few are affected by his tweets. We are also done with him, maybe he can move the altcoin market. But Bitcoin? no impact whatsoever.

[avikz]

The famous American investor changed his mind about Bitcoin. In the past, he was fiercely opposed to cryptocurrency. He did not find it tangible, and he preferred the actions of large companies at a promising price.

Recently, his investment fund sold a portion of its Visa and Mastercard shares. He then proceeded to buy shares in Nubank. Nubank is the largest fintech bank (finance and technology) in Brazil. But it is also the most popular among Bitcoin investors.

https://www.nwscoin.com/2022/02/bitcoin-does-warren-buffet-change-his.html

Does it matter?? I guess not! Mr. Buffett is a money whore who sniffs out money from anywhere. But it's interesting to see that he didn't invest in bitcoin directly, rather invested kn a fintech company that is popular amongst the new age investors. So I don't think he has changed his mind. But just taken a calculated risk on something he is not much familiar with!

But anyway, the bitcoin community is immune from his comments and actions.

[Darker45]

I also don't think Warren changed his mind about Bitcoin. I even doubt he is actively increasing his knowledge on Bitcoin. He doesn't seem to care about Bitcoin.

It's just that he probably sees a bigger future for Nubank. He must have carefully studied its potentials. But he definitely did not invest in Nubank simply because it is somehow pro Bitcoin.

In the same way that many investors of Tesla and Square and Nexon and Aker ASA did not invest in them simply because they have Bitcoin on their balance sheets.

[mk4]

Warren Buffett invests in businesses with good cash flow. He doesn't like investing in gold either, but yet invested in the Barrick Gold company because it earns good money. The articles about Buffett "iNvEsTiNg iN CrYpTo" because of this stock purchase are pure clickbait and people are indeed falling for it.

[cheezcarls]

At his age and "traditional" investing mindset, he is only looking for profits and not the tech behind it. But still this has been a game changer and proves that there is a "change of heart" on him after calling Bitcoin a rat poison. Now he knows that it's unstoppable (forget the tech side), he decided to dive in.

[pooya87]

Why would he change his mind, he was correct. Bitcoin is rat poison. It is and will continue killing the rats aka the corrupt centralized financial systems that Buffet is also involved in. Why do you think they are increasingly scared of it and the FUD they spread about bitcoin is only increasing in frequency?

[serjent05]

Warren Buffett invests in businesses with good cash flow. He doesn't like investing in gold either, but yet invested in the Barrick Gold company because it earns good money. The articles about Buffett "iNvEsTiNg iN CrYpTo" because of this stock purchase are pure clickbait and people are indeed falling for it.

Definitely agree with this 100%.  An article needs an eye-catching title to attract readers and they don't mind if it is an exaggeration or what.  I believe Warren Buffet still has his belief intact but of course, he won't miss any opportunity if it presents itself.  And Warren thinks that investing in such a company will give him good profit so why not.  After all, it is all about generating a good profit out of the available opportunities.

[aoluain]

Buffet was a very shrewd investor which many others followed his strategy as
pointed out by franky1 and mk4 and he hasnt changed that strategy. He is backing
a company who is involved with crypto he isnt buying Bitcoin or any other crypto
directly himself.

So no he doesnt change his mind he is very much doing just what he always did.


In a related thread from over a year ago, I created THIS with some of his
more famous attacks on Bitcoin.