Warren Buffet: "I Would Not Short Bitcoin"
After Jamie Dimon yesterday's statement, in which he publicly regretted bashing Bitcoin, another crypto-frowner, Warren Buffet, toned down his stance. In a CNBC interview today, the Berkeshire Hathaway father declared:
"We don't own any, we're not short any, we'll never have a position in them."
He went as far as saying:
"If I could buy a five-year put on every one of the cryptocurrencies, I'd be glad to do it but I would never short a dime's worth."
Of course, he didn't switch quite 180 degrees, keeping a little bit of a bitterness, by pointing that:
"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending. When it happens or how or anything else, I don't know."
It's a bit ironic to say that "crypto will come to a bad ending", when you think that none of us "will come to a good ending" on this Earth. Or at least I don't know of anyone who got out alive of this thing called "life", when it ended.
2018 seems to ignite a new perspective on cryptocurrencies, one in which the financial establishment will rather work with it, if possible, rather than rejecting it completely as being a fraud, a scam or a Ponzi scheme. Or all of them, at once.
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Haha, he's like the little kid who after losing a sports match shakes his opponent's hand and then as he walks off mutters, "you suck!" under his breath. 😆
:))) just imagined him
I'm a bit sad that I made my post 3 hours ago and nobody paid any attention to it.
Warren Buffet does a Jamie Dimon and Tanks the Cryptocurrency Market
People must face it: crypto is the cool kid on the ...block :)))
:)) loved the pun
It is always good to take what Buffett says from the standpoint of his role as investor. Remember Ben Graham defined investment as something that offers a high probability of return with a low probability of loss. Whereas speculation should offer even higher possible returns for more risk. Buffett doesn't really comment on the long term nature of blockchain or digital currency but on the nature of current investment opportunity. This is almost exactly what he said during the dot com years. From his point of view he'll probably be proven right as new technology and frontiers tend to have a speculation period before normal investment criteria can be applied. The fact that he puts a five year period around his ideal put says something. He knows it could take time to sort out. His good friend Bill Gates has acknowledged that blockchain is an important technology and I think pointed to Ripple as a significant development. It is important that we accept our role as speculators as that is an honorable role similar to entrepreneurship in general. thanks for posting
I'm betting Berkshire Hathaway buys a crypto exchange or is heavily invested in one in two weeks.
On the other side of the coin:
I'm betting Warren Buffet pursues political change to make it illegal to use crypto as a means of inheritance transfer. Or, basically try to get crypto outlawed. Because that's the sort of thing Warren would do.
It's easy to say general statements like that l. I can say the stock market will have a bad ending in 2018. So if the stock market crashes I was right. Even if it continues to go up i can say well I meant since it wasn't going to double in value that's the bad ending. Even if it just dips 100 points at the end of the year that's a "bad ending" still say these guys are making these general statements to spread fud and increase there own personal gains.
Let's just wait and watch, these guys want us to quit crypto by threatening that it doesn't have future, our government has gone as far as lying about bitcoins and terming them as "Illegal money/black money/stolen money" LOL bring it on, 2018 is the rise of crypto! *grabs my popcorn.
Some people still finding it hard to accept cryptocurreny, remembered some some months back I was telling some guys about cryptocurrency and they were like its a ponzi scheme and that it will soon crash. Gave them reasons and prove that it isn't but all fell on their deaf ears. What a funny world we live in.............
the more crypto is in the news, the more it goes up... little bumps, but the march will continue
As Andreas M. Antonopoulos saying : It starts wit denial and will end with full adoption.