Billionaire investor Warren Buffett told CNBC on Wednesday that Bitcoin and cryptocurrencies in general won't end well!
His exact words were:
"In terms of Cryptocurrencies generally I can say almost with certainty that they will come to a bad ending."
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Then when asked if he is planning to go short on Bitcoin he said:
"No, there is no reason. I get into enough trouble with things I think I know something about, why in the world should I take a long or short position of something I don't know anything about."
WHAT?!?!?
Really?!?!? You can't be serious man!
How can you say that something will fail if you don't know anything about it?!?
Now, Warren Buffett is one of the most successful investors of all time and I fully respect his opinion (actually I respect everyone's opinion) but I have to admit that I can't understand him.
So I can say with almost certainty that he will fail in life! As an investor I mean! :)))
So my friends, what do you think about Warren Buffett and his prediction?
Full article and videos:
https://www.cnbc.com/2018/01/10/buffett-says-cyrptocurrencies-will-almost-certainly-end-badly.html
I respect him for what he have achieved but what an old man like him know about crypto.
A few years ago he also said that bitcoin was in bubble and people should stay away from it, by the time bitcoin was traded @ $600. Again, he made bad statement about bitcoin, I hope he will regret it someday (like Jamie Dimon did). In fact Warren Buffet admitted that he has limited understanding in techs.
https://www.cnbc.com/2017/05/06/warren-buffett-admits-he-made-a-mistake-on-google.html
So I hope he is wrong again this time
@loveandpeace777 Warren Buffet is a PARASITE and a Vulture Elite Bad Guy...............He would Love it if you and I were SLAVES for the rest of our lives. Would you like to know how I really feel ??
Nonsense... pure tinfoil hattery! He has given out many pieces of excellent advice over the years to us all if you are willing to listen. If you will not listen to the wisdom of someone who has earned billions of dollars then i don't know who you will listen to!
If you are willing to see the error of your ways I have laid out some of Warren Buffett's best pieces of advice in my 3-part series on the extremely intelligent man in my blog:
https://steemit.com/bitcoin/@investingtips/how-to-think-like-warren-buffett
no
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haha actually warren is trying to say that anything that he cant understand will fail. i always admired this man though and i even remembered many of his quotes but here cant understand his logic
Sneaky Ninja Attack! You have been defended with a 3.36% vote... I was summoned by @loveandpeace777! I have done their bidding and now I will vanish...Whoosh
His old he dont understand cryptocurrency and the importance of blockchain technology so dont be fool.
Warren Buffet will be left with nothing but worthless dollars after the crypto boom is over.
I have read and saw many interviews of billionaire businessmen and I think that while it is right to listen to advice of successful people we should not rely on that advice as it may have some bias in it.
Example- Mark Cuban defending scrapping Net Neutrality
What incentive would he have to look into a whole new field? He's already set and at his age high-risk investments don't make sense.
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I understand and love the idea of the blockchain technology I believe it's going work in the long run, but in my view it actually has all the characteristics of a bubble. Everybody are just too exited right now but what if fear finally comes?
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I think he stated his candid opinion, if he doesn't understand it, like most octogenarians don't seem to grab the concept of technology so well, that's his honest opinion,
Finally, he admitted he didn't know anything about it.
He's just a beginner it seems, he has definitely made a lot of mistakes in his past investing.
He's just a kid guys, we'll help him lol
He doesn't like it because he is a big part of the illuminati, he can't control it!
It's interesting to see how able men, as they get older, often get left behind by emerging technologies.
It seems like the brain resists change more the older it gets. I wonder what he was saying about the internet in the early days?