A dog that vomited and then ate the vomit again

[kingvirtus09]

First of all, I have no anger or bad intentions towards W.Buffett, I just want to emphasize on this matter that we know that Buffett is the number one critic or anti-crypto. Whatever he said before about Bitcoin that is not good, he even said before that even if Bitcoin becomes 25$, he still won't buy it. But what happened?

"Buffett's Berkshire Hathaway invested $500 million in Brazil's Nubank in June 2021 ahead of its initial public offering (IPO) later that year. Buffett's Nubank holding is thought to be now worth around $840 million after he plowed another $250 million into the startup bank during its IPO.”

https://cryptopotato.com/this-is-warren-buffetts-top-stock-in-2023-hint-its-got-something-to-do-with-crypto/

There is really no secret that cannot be revealed, the truth will reveal, now what is this NUBANK?

The Berlin-based neobank – N26 – established a cryptocurrency service that will enable customers to buy and sell 100 cryptocurrencies.

The largest fintech bank in Latin America – Nubank – also hopped on the bandwagon, launching its own cryptocurrency in Brazil. Interestingly, Berkshire Hathaway – the conglomerate holding company spearheaded by the famed investor and crypto critic Warren Buffett – is among the financial backers of the banking institution.

source: https://cryptopotato.com/these-banks-are-venturing-into-crypto-despite-ongoing-bear-market/

Did W. Buffett do this without knowing that Nubank is crypto-friendly? For me, I don't believe he doesn't know this. But why did he still speak negatively about Bitcoin? What is its purpose? Because if he is really anti-Bitcoin (W. Buffet), then this is how we will know: does the title I made in this discussion fit him? Why does he have to utter derogatory words about Bitcoin?
He talks about the negatives of Bitcoin, but the one he invested in, NUBANK, is crypto-friendly and already launched his own cryptocurrency called "Nucoin".

This means that W. Buffett has a personal interest in why he is always criticizing Bitcoin, because he probably thinks that when many people panic about what he will say and there is a dump in the market value of Bitcoin, he will take advantage of the opportunity to buy large holdings. It's just that what he wanted to happen didn't happen; this is just my assessment based on the information I found here.

Warren Buffett statement Before


https://www.cnbc.com/2022/10/19/buffett-backed-digital-bank-nubank-to-launch-its-own-cryptocurrency.html

What do you think?

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[Mahanton]

Did W. Buffett do this without knowing that Nubank is crypto-friendly? For me, I don't believe he doesn't know this. But why did he still speak negatively about Bitcoin? What is its purpose? Because if he is really anti-Bitcoin (W. Buffet), then this is how we will know: does the title I made in this discussion fit him? Why does he have to utter derogatory words about Bitcoin?
He talks about the negatives of Bitcoin, but the one he invested in, NUBANK, is crypto-friendly and already launched his own cryptocurrency called "Nucoin".

This means that W. Buffett has a personal interest in why he is always criticizing Bitcoin, because he probably thinks that when many people panic about what he will say and there is a dump in the market value of Bitcoin, he will take advantage of the opportunity to buy large holdings. It's just that what he wanted to happen didn't happen; this is just my assessment based on the information I found here.

Not shocking anymore, we've seen some critics towards Bitcoin but what happened later on? They have made out such criticism but in behind they are really that accumulating. Why they do that? They are really that tending to drive the price down whenever the market would really be that making out some negative reaction about it. Knowing that WB does have some influence then it might neither be having a significant effect or not.
So as a crypto investor then better get used to this because sentiments and news like this do usually happen and do really goes out in the market and this isnt something that new anymore.
Whether on what names we do called into these people or person which "THEY DONT REALLY CARE". They would really always getting in line on what they do have in minds in speaking about financial steps and actions
and as long they could really be able to benefit out then it would really be their main goal.

No matter how many times they would be vomit out but later on they would really be just simply eat those vomit again and it do seems that there's nothing happened.
If you arent that wise on investing world then you wont really be able to make money and this is what they are doing.

[Poker Player]

First of all, I have no anger or bad intentions towards W.Buffett, I just want to emphasize on this matter that we know that Buffett is the number one critic or anti-crypto.

I do not agree with that. I think number one, to the point of ridiculousness, is Peter Schiff. I do not agree with that. In Buffett's case, his criticisms of bitcoin are quite similar to gold. He doesn't like it because it doesn't produce anything, it doesn't pay rents or dividends. The fact that he has invested in this company that now offers crypto-services is normal to a certain extent, since the cryptocurrency market is getting bigger and bigger and covers many areas of society. He also spent a long time without changing his cell phone and without investing in technology, finally he changed his cell phone and bought shares of Apple, being his biggest investment.

For the little time he has left to live, do not give so much importance to what he says.

[Dave1]

He could have some narrative behind why he continue to attack bitcoin, nevertheless the effect is just temporary though. Maybe he secretly invested on bitcoin, or someone as a hedge fund manager acts for him to be a investor, we will never know.

Obviously, he has a ton of money already and maybe just playing around and see how it goes for him. For sure though that he knows that NuBank is crypto friendly, but then again, if we talk about profits, it doesn't matter to this billionaire as they will continue to invest which they think will be big someday, including a crypto friendly bank.

[Darker45]

This is old news, but I don't think there is something big to this.

In the first place, I don't think Warren is an enemy of Bitcoin. Does he just attack Bitcoin repeatedly even if unprovoked? I'm not sure if he even speaks about Bitcoin if not asked for his opinion. But if asked, he's frank about his dislike of it.

The man is a brilliant investor and he makes investments in companies which he believes would succeed. Whatever that company does, he probably doesn't dictate. So it's not really that huge of a conflict. This is probably just like JPMorgan and Jamie Dimon. JPMorgan is serious about Bitcoin adoption. On the contrary, its CEO, Jamie Dimon, calls Bitcoin a fraud, a pet rock, and a waste of time.

In any case, don't give too much weight to the words of these people. Their goal is money. They can say one thing and do another. That's not a problem for as long as they earn.

[Adbitco]

He might be among but that doesn't mean he won't speak what is in his mind about crypto sometimes with the sudden growth of bitcoin and the cryptocurrency industry can easily gets him convinced about his view before but, let us also consider this as well. W. Buffetts is a businessman and can do whatever to make money from his investment in other to sustain his wealth, wealth can only be sustain through investment and if he noticed  instability in his investment he can pull out his investment back as I believe to know that he is a man that stands on he's words. Well human can change at anytime but let's watch to know he's reactions as they get deeper into their cryptocurrency developments phase.

[Text]

His investment in Nubank might not necessarily contradict his previous stance on Bitcoin. Nubank's core business is in banking and financial services, which is different from Bitcoin. He has also shown interest in technology companies like Apple in the past, so his investment in Nubank may be more about the fintech industry than a shift in his view on cryptocurrencies.

It’s true that Buffett has been a vocal critic of Bitcoin and other cryptocurrencies, dismissing them as risky and worthless. He has even referred to Bitcoin as "rat poison squared".
https://markets.businessinsider.com/currencies/news/warren-buffett-best-quotes-bitcoin-cryptocurrencies-investing-rat-poison-squared-2021-1-1029974898

Your title is a bit harsh, but it does make a point. Buffett's investment in Nubank might be inconsistent with his public criticism of Bitcoin. It's possible that he has changed his mind about Bitcoin, or that he is simply being hypocritical.

[Ben Barubal]

    Warren Buffett may have been a severe critic of Bitcoin, and it may be that from the very beginning what he did was really just a show and he was just pretending; it's just one of his methods as far as I can see.

    But even so, he has already benefited from the profit due to Nubank adopting the blockchain concept. It means that he really knows that he will benefit a lot from Bitcoin as well, and in reality, it seems that he has succeeded in this matter, and for sure, he is positioned to sell his Bitcoin holdings after the halving.

[franky1]

warren buffet does not believe in buying an underlying asset/stock.
EG if cocacola used caramel in its recipe. buffet would not invest in caramel(sugar stocks) he would just invest in cocacola and a factory that processes caramel

for instance. instead of buying sugar stocks that go up and down..
by buying cocacola. when sugar stocks drop cocacola makes more profit
by buying sugar plantations. when sugar stocks rise sugar farms makes more profit
win win for buffet. and not having to ride the sugar stock market directly


EG if stock markets list wheat. buffet would not invest in wheatstocks, he would just invest in wheat farms and bread companies

this is because even if an asset goes up in price that same profit translates to the farms that produced it. whereby he can also hedge that asset by owning the farm. thus gain exposure to the asset but also own farm equipment, land and real estate if the asset failed.

this is another reason retirement policies invest in not the base asset but in companies with extra equity and tangible extra assets that could be liquidated if the underlying asset operates at a loss

in short dont invest in the dollar. invest in the banks holding the dollar, is his policy

[pooya87]

There are a couple of ways we can look at this.

First is the fact that the statements people make publicly does not necessarily reflect the reality or what they truly think. For example I have said many times over the past 9 years that I've known Bitcoin that many of these rich a-holes already own bitcoin and are constantly buying it. There is a high possibility that Buffet is among them.

Another way is that Buffet or his company did not invest in Bitcoin, the investment is in another business that deals with cryptocurrencies.
Let me put it this way, imagine a centralized altcoin exchange that lists a lot of shitcoins, does it matter that they are all garbage if the exchange is making a lot of money by offering a service?
That's how Buffet sees things. In other words even if he didn't like cryptocurrencies he knows there is a lot of money to be made from centralized crypto-related services.

At the end of the day it doesn't matter what these people say or do, people should just stay away from anything centralized and stick to buying as much bitcoin as they can before it is too late

[benalexis12]

There are a couple of ways we can look at this.

First is the fact that the statements people make publicly does not necessarily reflect the reality or what they truly think. For example I have said many times over the past 9 years that I've known Bitcoin that many of these rich a-holes already own bitcoin and are constantly buying it. There is a high possibility that Buffet is among them.

Another way is that Buffet or his company did not invest in Bitcoin, the investment is in another business that deals with cryptocurrencies.
Let me put it this way, imagine a centralized altcoin exchange that lists a lot of shitcoins, does it matter that they are all garbage if the exchange is making a lot of money by offering a service?
That's how Buffet sees things. In other words even if he didn't like cryptocurrencies he knows there is a lot of money to be made from centralized crypto-related services.

At the end of the day it doesn't matter what these people say or do, people should just stay away from anything centralized and stick to buying as much bitcoin as they can before it is too late

I appreciate what you said; it's quite neutral and clear, and your opinion is, to be honest, good. We don't know what's actually on Buffett's mind, but one thing is clear to me: anything he says is bad for Bitcoin.

The crucial point is that we or we must have accumulated Bitcoin during its halving's next year or during the bull run. If Buffett's remarks irritate you, remember why he said them. Perhaps that isn't so difficult to grasp.

[Latviand]

He could have some narrative behind why he continue to attack bitcoin, nevertheless the effect is just temporary though. Maybe he secretly invested on bitcoin, or someone as a hedge fund manager acts for him to be a investor, we will never know.

Couldn't have said it any better, if I am in Buffett's shoes I would probably do the same thing, talk shit about bitcoin because I have seen the potential of it to grow and I know that I have a lot of money and if I can lower it ever more using my influence then I can probably squeeze in more profit when I buy bitcoin when it becomes lower. I don't think that he needs to have someone act for him to invest in bitcoin, anyone can freely do it but given that his investments are numerous I would probably believe he does but that person who proxies for him is damn trustworthy.

At the end of the day it doesn't matter what these people say or do, people should just stay away from anything centralized and stick to buying as much bitcoin as they can before it is too late

Perfect statement but I have problem with this last part, even if you say that, you'll only probably sway 2 or 3 people, it's inevitable that the public will always do what others are going to say given that people in general aren't taught to think for themselves.

[Majestic-milf]

 

Another way is that Buffet or his company did not invest in Bitcoin, the investment is in another business that deals with cryptocurrencies.
Let me put it this way, imagine a centralized altcoin exchange that lists a lot of shitcoins, does it matter that they are all garbage if the exchange is making a lot of money by offering a service?
That's how Buffet sees things. In other words even if he didn't like cryptocurrencies he knows there is a lot of money to be made from centralized crypto-related services.

This is true. As a businessman who has been vociferous against Bitcoin, I doubt he'd go back on his words. Not like it hasn't happened in past times of other anti bitcoiners, but him alongside his partner, Charles Munger have made it clear on their stand against it.
I'm not really surprised about this and I will not label it the way the op did because to him it's just business and anywhere there stands to be profit, he'd invest. Infact this is not the first time he's putting his money into the digital sector as in 2019, he also put heavy money into a digital payments company,  StoneCo. Still in Brazil.
 In another angle, this is good news because it will help push mainstream acceptance and a possible adoption of the Blockchain.

 Everyone is entitled to his opinion and so far Warren Buffett has given it and while there's those who have listened to him and entertained FUD, there's still others who have gone ahead and invested. Somehow the more he bad mouths Bitcoin, it continues to boom.

[Kakmakr]

The answer is simple...... Warren Buffett built his empire on old financial investment tools and he has massive shares in Berkshire Hathaway. They will never promote something that are in competition for investors money that can be invested in their investment firm or the traditional investment options that they offer.

Warren Buffet and his employees come from the old school education system... where they do not teach you about Crypto currencies.. so they will criticize everything that oppose their knowledge framework. 

[Jawhead999]

If Warren Buffett bought Bitcoin or Nucoin, then you can criticized him. Buffet is already 93 years old, I don't expect he would change his words because most of old people always stand with his current words.

What about this, you're promoting a mixer, do you support money laundering because every centralized entity always said it's linked to money laundering.

[posi]

What do you think?

If you are angry or believe what W.Buffett said or anyone who criticizes and slanders bitcoin, you have fallen into their trap. They won't care what you think about their statements, they only care about their wealth. I mean they can badmouth bitcoin, criticize bitcoin in front of the media and the goal is to keep people away from bitcoin but they will quietly buy as much as possible. And when the right time comes, they make a good statement about bitcoin and that's when they will sell high priced bitcoin to the public. Don't believe what billionaires and banks say, look at what they are doing.

[hugeblack]

It is not a defense or explanation for Buffett's behavior or opinions, but when you have thousands of investments, some of them may intersect with investments in assets or companies that are not directly related to them or supported by them. Buffett did not buy a bank or company that accepts or is directly related to cryptocurrencies, and therefore we cannot say that His views have changed. All these investments are side investments, not core investments.

[Die_empty]

He might be among but that doesn't mean he won't speak what is in his mind about crypto sometimes with the sudden growth of bitcoin and the cryptocurrency industry can easily gets him convinced about his view before but, let us also consider this as well. W. Buffetts is a businessman and can do whatever to make money from his investment in other to sustain his wealth, wealth can only be sustain through investment and if he noticed  instability in his investment he can pull out his investment back as I believe to know that he is a man that stands on he's words. Well human can change at anytime but let's watch to know he's reactions as they get deeper into their cryptocurrency developments phase.

Businessmen are like politicians who don't have permanent friends or enemies but are driven by personal interests. Warren Buffet is looking for ways to make more money and he is gradually moving away from traditional financial firms to fintech. He has sold off his $1.8bn shares in Visa and $1.3bn stake in Mastercard and channelled the money to invest in this Brazilian fintech bank.

We should also note that Berkshire Hathaway is not the major shareholder of Nu Holdings. His firm just owns 2.98% which is valued at $844,096,030. There are other top investors like Sc Us (ttgp), Ltd, Galileo (ptc) Ltd and Capital Research Global Investors, so Warren might not have much influence. But if he is a man of his word, he wouldn't invested in the bank or would have sold his shares if he discovered that they were investing in an asset he feels is worthless.  

[davis196]

1.I think that your forum thread title is very misleading and I smell clickbait. Do you suggest that Warren Buffet is "the dog that vomited and ate the vomit"? Why would you think of such disgusting thing?
2.Berkshire Hathaway has it's own managers and directors, who are running the business. Just because Berkshire Hathaway had bought some crypto-friendly financial institution in Brazil doesn't mean that Warren Buffet has something to do with this decision. Buffet is just a big shareholder of the company.
3.Many people would think that Buffet is a hypocrite, when he talks about Bitcoin/crypto, but I think that he is sincere in his hatred towards Bitcoin. I can totally understand why he hates Bitcoin/crypto.

[kingvirtus09]

1.I think that your forum thread title is very misleading and I smell clickbait. Do you suggest that Warren Buffet is "the dog that vomited and ate the vomit"? Why would you think of such disgusting thing?

No it is not a clickbait, and you were right on that, His criticisms of Bitcoin are as if he had vomited, and then he also supports cryptocurrency, which is equivalent to eating his vomit again.

And I also see hypocrisy in his personality in the words he utters, even though I know that he was already a very rich person before Bitcoin was actually created, and we know that, of course, it's already given. That's the only thing I attacked that he released, criticizing Bitcoin.