prior year. One really is investing and the other isnt. What do you think of Warren Buffetts continued bearish statements? The Oracles anti-crypto stance is shared by ousted Paypal CEO, bill Harris, who called Bitcoin a scam this week, and Buffets vice chairman at Berkshire Hathaway, 94-year-old Charlie Munger, who thinks interest in Bitcoin is simply disgusting. Theres sic two kinds of items that people buy and think theyre investing, he said. You can probably guess which one Buffett says isnt. If you buy something like a farm, an apartment house, or an interest in a business You can do that on a private basis And its a perfectly satisfactory investment, said Buffett. This isnt the first time that Buffett has criticized cryptocurrency investments. Why in the world should I take a long or short position of something I dont know anything about?
One really is investing and the other isnt, he said in reference to bitcoin. The famous American business magnate, investor, and philanthropist explained his reasoning as such: If you buy something like a farm, an apartment house, or an interest in a business You can do that on a private basis And its a perfectly satisfactory investment. Theres two kinds of items that people buy and think theyre investing. If you wanna gamble somebody else will come along and pay more money tomorrow, thats one kind of game. Images courtesy of Flickr and Bitcoinist archives. Bitcoin is notoriously volatile but has experienced massive gains in recent years. Thus, its easy to argue that Buffetts claim that Bitcoin and cryptocurrency investors are just speculating entirely neglects to mention one key fact: theyre speculating on the future of finance. however, despite predicting their downfall, Buffett also refused to bet against the virtual currency market. In the same interview with, cNBC, Mr Buffett admitted that he would never bet on the price of bitcoin falling as he did not understand how the market works. Buffett responded that he was certain that every cryptocurrency would fall over the next five years. That Is Not Investing, in an exclusive interview with, yahoo Finance in Omaha, Nebraska, leading up to Berkshire Hathaways annual shareholder meeting, Buffett revealed that his thinking has not changed in regards to Bitcoin and other cryptocurrencies. Buffett then spoke negatively bitcoin super conference live stream about cryptocurrencies again in January.
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