Warren Buffet advise not to buy bitcoin. Expect bitcoin price to collapse.

[maokoto]

Well, Buffet is known to be a value investor. He invest in things that have value per se, companies that sell good or services that backup the value invested. Bitcoin value is only in that people agree it has value. There are no physical things behind it. It is not strange that his opinion is this.

[montreal]

Well, Buffet is known to be a value investor. He invest in things that have value per se, companies that sell good or services that backup the value invested. Bitcoin value is only in that people agree it has value. There are no physical things behind it. It is not strange that his opinion is this.

yeah I believe he doesn't even invest in any tech companies. So naturally something like bitcoin is far too much risk. But unfortunately he has a large following of people who respect his opinion and will never give bitcoin a second look because of his advice.

[ROT13]

Well, Buffet is known to be a value investor. He invest in things that have value per se, companies that sell good or services that backup the value invested. Bitcoin value is only in that people agree it has value. There are no physical things behind it. It is not strange that his opinion is this.

yeah I believe he doesn't even invest in any tech companies. So naturally something like bitcoin is far too much risk. But unfortunately he has a large following of people who respect his opinion and will never give bitcoin a second look because of his advice.

Then why does he have such a strongly articulated view on bitcoin and why you shouldn't purchase it?  Would he really have replied with anything beyond a shrug and an admission of ignorance if this was not bitcoin up for discussion but the stock of some up and coming tech company? 

I'm in no way a believer in some sort of deep seated agenda being at play, but it does make you question why he feels the need to go out on a limb about something he admits to not being knowledgeable about. 

[QuintLeo]

Buffett has been all about "value investing" for most of Berkshire Hathaway's existance.

 Bitcoin is FAR too speculative for him to have any liking for it.

[LMGTFY]

Buffett has been all about "value investing" for most of Berkshire Hathaway's existance.

 Bitcoin is FAR too speculative for him to have any liking for it.

Agreed. I think his position is mostly reasonable, to be honest. You know his saying about his aunt, that if he can't explain an investment to her he won't recommend it? I think that's a great policy, and I think it's only sensible that he stays away from  Bitcoin. (Obviously, I believe I can explain Bitcoin to my aunt, and I do hold and trade BTC).

Where I think he's gone too far is in attempting to explain Bitcoin. I'd have a lot more respect for him if he said something like "I don't understand Bitcoin, so I can't recommend it" instead of (paraphrasing) "I think I understand Bitcoin and it's like cheques or money orders or something and I wouldn't invest in them, so I can't recommend it".

[1Referee]

Well, Buffet is known to be a value investor. He invest in things that have value per se, companies that sell good or services that backup the value invested. Bitcoin value is only in that people agree it has value. There are no physical things behind it. It is not strange that his opinion is this.

yeah I believe he doesn't even invest in any tech companies. So naturally something like bitcoin is far too much risk. But unfortunately he has a large following of people who respect his opinion and will never give bitcoin a second look because of his advice.

Warrent Buffet is an old fashion investor. To a certain extent he can predict what kind of growth his investments in traditional companies will realize. Bitcoin is something even the best investment guru can't predict right. It's either a wrong prediction, or a good one. 50% chance.

The current market cap of Bitcoin allows him to take a significant share in Bitcoin if he invests (for him) a relatively low amount of around $50 to $100 million in Bitcoin.

Look at him, the old man should stop worrying about investments and stuff. He needs to enjoy life and burn through his wealth by visiting hookers. What is life worth if you don't enjoy it with the wealth you have earned. These wealthy people are always looking for more. $40 billion must be $50 billion. After a while $50 billion must be $60 billion, and so on.

[OzbigG]

It might be time for him to retire.

[pissedoff]

Warren Buffet's advise about not to buy bitcoins won't affect the price by a significant amount. Many bitcoiners don't agree with his comment.

[dumana]

That was last year's advice. Bitcoin has survived and evolved since then. Bitcoin has a crisis of block size limit at present. If it is not solved quickly, the bitcoin will be affected adversely.

[Farstdury]

Warren Buffet's advise about not to buy bitcoins won't affect the price by a significant amount. Many bitcoiners don't agree with his comment.

Some Wall Street companies are investing in bitcoin related business. For example, Goodman Sachs invested $50 million in Circle. So Buffet's comments might be not up to date.

[HeliKopterBen]

http://www.businessinsider.com/warren-buffett-money-tips-for-2015-2014-12

Its official.  The greatest investor of all time gave some pretty bad investment advice for 2015.  He gave recommendations on two specific assets:  bitcoin and vanguard's s&p 500 etf (voo).  Here is the performance:

bitcoin:  +39% - stay away from this according to buffet
VOO:  -1.25% - invest in this according to buffet

VOO may be break even after dividends and fees - might as well have just stayed in cash

[tokeweed]

Buffet is right in saying that people stay away from Bitcoin.  With all the toxic white male libertarian bros around here?  I'll say the same thing too. 

[The Sceptical Chymist]

I have a crazy amount of respect for Warren Buffet.  That's about all I have to say.  He's a brilliant money manager, but he's human like the rest of us and makes mistakes.  He's also in his 80s.  He does have some good points here.

[Bananana]

Well, warran buffet is only going to safer investment like a company etc. Btc is like gambling so its nono for him.

[Monnt]

Not going to affect anything. Bitcoin is going to grow at the speed as it is right now. Warren Buffet is probably just jealous that he didn't get into Bitcoins earlier. 

[tokeweed]

Not going to affect anything. Bitcoin is going to grow at the speed as it is right now. Warren Buffet is probably just jealous that he didn't get into Bitcoins earlier.  

I very much doubt it.  On that bolded comment that you made, he'd probably say:  "Fuck you, I could buy you and your whole family a billion times over to lick my asshole clean and I'd still be a billionaire."  

[tokeweed]

 ^ LOL!  I am laughing it my own post it's hilarious.

[HeliKopterBen]

Notice buffet hasn't told anybody what to do with their money in 2016...

[HardcoreSuperstar]

He does have a point but, however, I still believe it is a great investment.

[Farstdury]

Notice buffet hasn't told anybody what to do with their money in 2016...

Maybe he is secretly investing into bitcoin. But this might be against his advice. He does not see cash flow from bitcoin.