I think you are mistaking one thing about him that everyone forgets. Dude invests only into stuff that he thinks undervalued and has intrinsic value that is higher than the stock price. His mentor was Benjamin Graham who wrote the intelligent investor and for all his life Warren Buffet never made an investment that was overvalued or had no intrinsic value at all, for example he has been friends with Bill Gates for over 2 decades now, and he has never invested to microsoft, but he did invested to apple, why? Because, he believed there was a value and the stock was undervalued.
Bitcoin doesn't really have a specific value, we put a value in it, and that is why he will never understand why we buy it, because in the end we are not doing this investment just for profit (there might be some) but we are doing it because we want to get away from fiat and he may not understand that ever.
Topic: Warren Buffett & "Rat Poison" - page 3. (Read 697 times)
If someone asked Warren Buffett to comment on bitcoin today.
They might receive a completely different answer in contrast to his response back when Buffett's Berkshire Hathaway was a large holder of bank stocks.
Banks at the time viewed bitcoin as a rival and competitor, which made holders of bank industry stock somewhat polarized.
They might receive a completely different answer in contrast to his response back when Buffett's Berkshire Hathaway was a large holder of bank stocks.
Banks at the time viewed bitcoin as a rival and competitor, which made holders of bank industry stock somewhat polarized.
I wouldn’t bet that he would ever change his mind, even though he may have liquidated some of his positions in the banking sector. He has repeatedly expressed his opinion quite clearly on the subject of Bitcoin, and I think his ego does not allow him to admit that he was wrong (even if he thought so personally).
The gist of the whole story may be contained in this article that tries to explain why Buffett will never invest in BTC ->
Bitcoin Jumps To $34,000, But Here’s Why Warren Buffett Will Never Own It
Isnt there article saying that warren buffet isn't really interested in investing into tech? It's only normal if warren buffet is just analyzing based on whatever theories he has and don't really understand the tech behind bitcoin, heck even some middle aged people couldn't grasp the underlying technology if they aren't tech savvy enough and crypto as a whole is kinda complicated if you try to dive in.
Also, some really old people hardly accept any change and maybe warren buffet is one of them when it comes to digitalization and at this point I'd be more amazed if he changes his mind about cryptocurrency.
Also, some really old people hardly accept any change and maybe warren buffet is one of them when it comes to digitalization and at this point I'd be more amazed if he changes his mind about cryptocurrency.
Most people who are successful and old age are difficult to accept new things, maybe that's what happened to Warren Buffett. But I can understand
why not everyone accepts Bitcoin, because not everyone understands Bitcoin. Maybe Buffett has a hard time understanding Bitcoin, so he's not
interested in investing in something he simply doesn't understand. But what pissed me off against Warren Buffett are some of his pretty harsh
words against Bitcoin, which makes me as a Bitcoin believer quite hurt to hear it. Buffett shouldn't have said such harsh things if he really didn't
like Bitcoin.
why not everyone accepts Bitcoin, because not everyone understands Bitcoin. Maybe Buffett has a hard time understanding Bitcoin, so he's not
interested in investing in something he simply doesn't understand. But what pissed me off against Warren Buffett are some of his pretty harsh
words against Bitcoin, which makes me as a Bitcoin believer quite hurt to hear it. Buffett shouldn't have said such harsh things if he really didn't
like Bitcoin.
It doesn't matter whether they are successful or not. Old people have an aversion to new technology. A few years back, while trying to popularize Bitcoin I found out that the elderly are the lest interested in new innovations such as Bitcoin. The younger people were at least ready to listen, but most of the oldies would drop out of the conversation within one or two minutes. Mr. Buffet is 90 years old, and I don't really expect him to approve new technology.
My parents who are in their 70's own Bitcoin, ok I had to buy it and
store it for them but they saw the opportunity to grow their savings.
They understood that their savings in their bank account were staying
static at best in value.
I wouldnt call them tech savvy but they understand it to a degree, I'm
sure there are plenty more elderly investors.
As regards Berkshire Hathaway yes it can only be a matter of time when
they recognise Bitcoin favourably after WB retires.
Most people who are successful and old age are difficult to accept new things, maybe that's what happened to Warren Buffett. But I can understand
why not everyone accepts Bitcoin, because not everyone understands Bitcoin. Maybe Buffett has a hard time understanding Bitcoin, so he's not
interested in investing in something he simply doesn't understand. But what pissed me off against Warren Buffett are some of his pretty harsh
words against Bitcoin, which makes me as a Bitcoin believer quite hurt to hear it. Buffett shouldn't have said such harsh things if he really didn't
like Bitcoin.
why not everyone accepts Bitcoin, because not everyone understands Bitcoin. Maybe Buffett has a hard time understanding Bitcoin, so he's not
interested in investing in something he simply doesn't understand. But what pissed me off against Warren Buffett are some of his pretty harsh
words against Bitcoin, which makes me as a Bitcoin believer quite hurt to hear it. Buffett shouldn't have said such harsh things if he really didn't
like Bitcoin.
It doesn't matter whether they are successful or not. Old people have an aversion to new technology. A few years back, while trying to popularize Bitcoin I found out that the elderly are the lest interested in new innovations such as Bitcoin. The younger people were at least ready to listen, but most of the oldies would drop out of the conversation within one or two minutes. Mr. Buffet is 90 years old, and I don't really expect him to approve new technology.
Most people who are successful and old age are difficult to accept new things, maybe that's what happened to Warren Buffett. But I can understand
why not everyone accepts Bitcoin, because not everyone understands Bitcoin. Maybe Buffett has a hard time understanding Bitcoin, so he's not
interested in investing in something he simply doesn't understand. But what pissed me off against Warren Buffett are some of his pretty harsh
words against Bitcoin, which makes me as a Bitcoin believer quite hurt to hear it. Buffett shouldn't have said such harsh things if he really didn't
like Bitcoin.
why not everyone accepts Bitcoin, because not everyone understands Bitcoin. Maybe Buffett has a hard time understanding Bitcoin, so he's not
interested in investing in something he simply doesn't understand. But what pissed me off against Warren Buffett are some of his pretty harsh
words against Bitcoin, which makes me as a Bitcoin believer quite hurt to hear it. Buffett shouldn't have said such harsh things if he really didn't
like Bitcoin.
It doesn't matter whether they are successful or not. Old people have an aversion to new technology. A few years back, while trying to popularize Bitcoin I found out that the elderly are the lest interested in new innovations such as Bitcoin. The younger people were at least ready to listen, but most of the oldies would drop out of the conversation within one or two minutes. Mr. Buffet is 90 years old, and I don't really expect him to approve new technology.
Warren Buffett is a respectable tutor and his philosophy has helped me a lot in many things
In terms of bitcoin, everyone has the right to express their opinions,
When someone has a different opinion from you, do not refute them first,
At a specific point in time, everyone's views and opinions will be verified, and what we need to do now is to accept and allow questions to be kept
In terms of bitcoin, everyone has the right to express their opinions,
When someone has a different opinion from you, do not refute them first,
At a specific point in time, everyone's views and opinions will be verified, and what we need to do now is to accept and allow questions to be kept
I think wealthy investors do not just invest in things they do not understand and personally like. Whether a certain investment is profitable or not won't matter to them if it is not really their cup of tea. They wouldn't mind leaving a promising asset behind for something else they are passionate about.
This might be what this is all about. Warren Buffet has his own bases in terms of investment and Bitcoin is not in his personal taste. He's got his own opinion. Let him do his thing in peace. Why do we sometimes sound so bitter that Warren is rejecting our advances?
This might be what this is all about. Warren Buffet has his own bases in terms of investment and Bitcoin is not in his personal taste. He's got his own opinion. Let him do his thing in peace. Why do we sometimes sound so bitter that Warren is rejecting our advances?
Most people who are successful and old age are difficult to accept new things, maybe that's what happened to Warren Buffett. But I can understand
why not everyone accepts Bitcoin, because not everyone understands Bitcoin. Maybe Buffett has a hard time understanding Bitcoin, so he's not
interested in investing in something he simply doesn't understand. But what pissed me off against Warren Buffett are some of his pretty harsh
words against Bitcoin, which makes me as a Bitcoin believer quite hurt to hear it. Buffett shouldn't have said such harsh things if he really didn't
like Bitcoin.
why not everyone accepts Bitcoin, because not everyone understands Bitcoin. Maybe Buffett has a hard time understanding Bitcoin, so he's not
interested in investing in something he simply doesn't understand. But what pissed me off against Warren Buffett are some of his pretty harsh
words against Bitcoin, which makes me as a Bitcoin believer quite hurt to hear it. Buffett shouldn't have said such harsh things if he really didn't
like Bitcoin.
All quotations in OP were made when Warren Buffett was the largest holder of Wells Fargo stock
Since then Buffett trimmed his Wells Fargo stake down to roughly 25% of the holdings he left 3 years ago
....
Buffett was also a big holder of JP Morgan. A position which he appears to have since liquidated.
....
If someone asked Warren Buffett to comment on bitcoin today.
They might receive a completely different answer in contrast to his response back when Buffett's Berkshire Hathaway was a large holder of bank stocks.
Banks at the time viewed bitcoin as a rival and competitor, which made holders of bank industry stock somewhat polarized.
Since then Buffett trimmed his Wells Fargo stake down to roughly 25% of the holdings he left 3 years ago
Quote
Warren Buffett Continues To Cash Out Of Wells Fargo
Berkshire divested of 100.02 million shares of the San Francisco-based bank on Aug. 14, impacting the equity portfolio by -1.25%. It now owns a total of 137.5 million shares, which is a steep decline from the approximately 480 million shares held three years ago.
https://www.forbes.com/sites/gurufocus/2020/09/08/warren-buffett-continues-to-cash-out-of-wells-fargo/?sh=7c4333504b93
Berkshire divested of 100.02 million shares of the San Francisco-based bank on Aug. 14, impacting the equity portfolio by -1.25%. It now owns a total of 137.5 million shares, which is a steep decline from the approximately 480 million shares held three years ago.
https://www.forbes.com/sites/gurufocus/2020/09/08/warren-buffett-continues-to-cash-out-of-wells-fargo/?sh=7c4333504b93
....
Buffett was also a big holder of JP Morgan. A position which he appears to have since liquidated.
Quote
Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B) CEO Warren Buffett has now been dumping bank stocks for three straight quarters. But I was still surprised to see the Oracle of Omaha virtually eliminate Berkshire's stake in JPMorgan Chase (NYSE: JPM) in the third quarter of 2020.
Berkshire cut its holdings of JPMorgan from 22.2 million shares, worth more than $2 billion, to less than 1 million shares, worth less than $100 million. That's down even more since the end of 2019, when Berkshire owned more than 59 million shares of JPMorgan, valued at nearly $8.3 billion.
https://www.msn.com/en-us/money/topstocks/is-jpmorgan-chase-still-a-warren-buffett-stock/ar-BB1cEbSi
Berkshire cut its holdings of JPMorgan from 22.2 million shares, worth more than $2 billion, to less than 1 million shares, worth less than $100 million. That's down even more since the end of 2019, when Berkshire owned more than 59 million shares of JPMorgan, valued at nearly $8.3 billion.
https://www.msn.com/en-us/money/topstocks/is-jpmorgan-chase-still-a-warren-buffett-stock/ar-BB1cEbSi
....
If someone asked Warren Buffett to comment on bitcoin today.
They might receive a completely different answer in contrast to his response back when Buffett's Berkshire Hathaway was a large holder of bank stocks.
Banks at the time viewed bitcoin as a rival and competitor, which made holders of bank industry stock somewhat polarized.
That is a very good summary of Warren Buffett's thoughts on Bitcoin. Good job OP you gathered them all in one place.
My opinion is that Warren has a few points here and there.
Bitcoin indeed attracts lots of scammers. Nobody can deny this. There are a whole world of clueless retards waiting to be scammed. We already have seen this in 2017 when the ICO stuff was happening and it still continues.
These manipulative assets (bitcoin is included because of tether) don't fit Warren's point of view because for the same reasons he doesn't like investing in gold neither.
He invests in Gold digging companies instead of investing in gold directly. That's because gold has industrial use probably. That's where he sees value in gold. Not because people use it as jewelry. That's my guess.
Here is where he is wrong:
Even if whatever he said about bitcoin was all true, the Fed can't stop printing money and covid19 gave them all the excuses they needed so the financial rules don't really matter anymore. It is so skewed any private companiy can print their own USD tokens and nobody gives a fuck if they are really backed or not.
In an ideal world a company without customers should go bankrupt. It shouldn't get help from the government. This is where the real problem starts and triggers even more money printing. We simply can't afford the death of some "special" companies and since they know this they can abuse it even more.
In nature the strong kills and eats the weak so the weak adapts to the situation and figures out other ways to survive. Everything comes to this in the end. We are prventing the evolution from happening and it will cost us big time.
My opinion is that Warren has a few points here and there.
Bitcoin indeed attracts lots of scammers. Nobody can deny this. There are a whole world of clueless retards waiting to be scammed. We already have seen this in 2017 when the ICO stuff was happening and it still continues.
These manipulative assets (bitcoin is included because of tether) don't fit Warren's point of view because for the same reasons he doesn't like investing in gold neither.
He invests in Gold digging companies instead of investing in gold directly. That's because gold has industrial use probably. That's where he sees value in gold. Not because people use it as jewelry. That's my guess.
Here is where he is wrong:
Even if whatever he said about bitcoin was all true, the Fed can't stop printing money and covid19 gave them all the excuses they needed so the financial rules don't really matter anymore. It is so skewed any private companiy can print their own USD tokens and nobody gives a fuck if they are really backed or not.
In an ideal world a company without customers should go bankrupt. It shouldn't get help from the government. This is where the real problem starts and triggers even more money printing. We simply can't afford the death of some "special" companies and since they know this they can abuse it even more.
In nature the strong kills and eats the weak so the weak adapts to the situation and figures out other ways to survive. Everything comes to this in the end. We are prventing the evolution from happening and it will cost us big time.
I'm not going to cut Warren Buffet any slack because he's a genius investor with great reputation. His statements are just ignorant, he says that he knows nothing about Bitcoin but this doesn't stop him from dismissing it. No self-respecting professional would make strong comments on something that they don't understand.
It's also strange that Buffet dismiss Bitcoin simply because it's not a stock. Does he have a problem with gold markets, commodities, currencies, etc. ?
It's also strange that Buffet dismiss Bitcoin simply because it's not a stock. Does he have a problem with gold markets, commodities, currencies, etc. ?
I used to care what WB thought about BTC in the past, but for a while now I haven't cared about his opinion, just as I don't care if Musk or Gates will invest in BTC tomorrow or never. I think that we who understand BTC (more or less) should not be burdened by what an individual thinks about it, no matter what his name was and how much money he had. The strength of BTC is that there are tens of millions of those who consider it something revolutionary and valuable, and far from that we need to care what private entrepreneurs think about it.
Would Bitcoin be better if WB said something positive on the subject? Well of course it wouldn't be, because most just want him to invest in BTC and so pull some others who have an opinion like him. Let the WB and the old world go their way, dinosaurs don’t fit into the digital age anyway.
Would Bitcoin be better if WB said something positive on the subject? Well of course it wouldn't be, because most just want him to invest in BTC and so pull some others who have an opinion like him. Let the WB and the old world go their way, dinosaurs don’t fit into the digital age anyway.
I pretty much agree with all the comments, WB is a legend in so far as investing
goes and has definitely left his mark He has been 100% against Bitcoin for years
not just as a 90 year elderly man, I get it that he is not going to change his outlook,
he doesnt need to, he has been successful at what he did and fair play to him.
Not to everyone, and prior to my research I wasnt aware of everything he said
about Bitcoin.
A lot of people might have been aware of some of his comments but possibly
not all of the comments, and i'm sure I have missed others also.
While you feel I am not bringing anything new to the table I certainly feel the
comments thus far are shedding some light on the personality of WB and the
respect he commands even by many of the crypto community.
I dont see anywhere on this thread anything that is making fun of him, the
statements made by him are fact and I think he knew much more about
Bitcoin than he would like to let us think.
goes and has definitely left his mark He has been 100% against Bitcoin for years
not just as a 90 year elderly man, I get it that he is not going to change his outlook,
he doesnt need to, he has been successful at what he did and fair play to him.
The opinions of Warren Buffet in regards to Bitcoin are well known for years.
Not to everyone, and prior to my research I wasnt aware of everything he said
about Bitcoin.
I don't know what's the point of gathering all his FUD statements in one forum thread.OP,you aren't bringing anything new to the table here.
A lot of people might have been aware of some of his comments but possibly
not all of the comments, and i'm sure I have missed others also.
While you feel I am not bringing anything new to the table I certainly feel the
comments thus far are shedding some light on the personality of WB and the
respect he commands even by many of the crypto community.
and make fun of him.
I dont see anywhere on this thread anything that is making fun of him, the
statements made by him are fact and I think he knew much more about
Bitcoin than he would like to let us think.
Warren Buffett is a smart badass otherwise he would have never accomplished what he has done so far with his wealth management firm. Nonetheless, when he talks about bitcoin he's clueless: I don't know if it's because he didn't spend some time researching about it or he simply can't understand it.
I hope he will be well and alive when the value of a single bitcoin will overtake his BRK.A: that would be a great day to watch!
I actually predicted it already here
https://bitcointalksearch.org/topic/m.25097916
I hope he will be well and alive when the value of a single bitcoin will overtake his BRK.A: that would be a great day to watch!
I actually predicted it already here
https://bitcointalksearch.org/topic/m.25097916
The opinions of Warren Buffet in regards to Bitcoin are well known for years.
I don't know what's the point of gathering all his FUD statements in one forum thread.OP,you aren't bringing anything new to the table here.Buffet will keep hating on Bitcoin,and we will keep ignoring his hate,or at least use his statements to create pointless forum threads and make fun of him.
The "rat poison" statement by Buffet is old news.His arguments why Bitcoin is trash are completely irrelevant.
Even if the Bitcoin price reaches 1M USD,the haters gonna hate Bitcoin...
I don't know what's the point of gathering all his FUD statements in one forum thread.OP,you aren't bringing anything new to the table here.Buffet will keep hating on Bitcoin,and we will keep ignoring his hate,or at least use his statements to create pointless forum threads and make fun of him.
The "rat poison" statement by Buffet is old news.His arguments why Bitcoin is trash are completely irrelevant.
Even if the Bitcoin price reaches 1M USD,the haters gonna hate Bitcoin...
Warren Buffett is a very successful investor, but he is also an elderly man.
He studied the art of investing in the 20th century. Now is the XXI century.
All of Warren Buffett's investment models remain relevant. Therefore, he has no reason to revise them.
At the same time, a new class of financial assets appeared - cryptocurrencies and their most prominent representative - Bitcoin.
Bitcoin is an antagonist and alternative to traditional financial instruments. Therefore, Warren Buffett treats bitcoin badly and has repeatedly criticized the first cryptocurrency.
In order to be a successful person, it is not necessary to understand how our world works in all its details. It is enough to know a few basic ways of getting rich. Buffett knows them.
Therefore, he is a very successful investor and in this capacity he deserves respect.
He studied the art of investing in the 20th century. Now is the XXI century.
All of Warren Buffett's investment models remain relevant. Therefore, he has no reason to revise them.
At the same time, a new class of financial assets appeared - cryptocurrencies and their most prominent representative - Bitcoin.
Bitcoin is an antagonist and alternative to traditional financial instruments. Therefore, Warren Buffett treats bitcoin badly and has repeatedly criticized the first cryptocurrency.
In order to be a successful person, it is not necessary to understand how our world works in all its details. It is enough to know a few basic ways of getting rich. Buffett knows them.
Therefore, he is a very successful investor and in this capacity he deserves respect.
Nice take.
I also acknowledge his credibility as an incredible investor and a CEO. But bashing something just because you don't understand it is not a thing that should be acknowledged.
His age really matters in how he understands things though its not an excuse for things he've said already, unless he retracted them in the near future.
Warren Buffett is a very successful investor, but he is also an elderly man.
He studied the art of investing in the 20th century. Now is the XXI century.
All of Warren Buffett's investment models remain relevant. Therefore, he has no reason to revise them.
At the same time, a new class of financial assets appeared - cryptocurrencies and their most prominent representative - Bitcoin.
Bitcoin is an antagonist and alternative to traditional financial instruments. Therefore, Warren Buffett treats bitcoin badly and has repeatedly criticized the first cryptocurrency.
In order to be a successful person, it is not necessary to understand how our world works in all its details. It is enough to know a few basic ways of getting rich. Buffett knows them.
Therefore, he is a very successful investor and in this capacity he deserves respect.
He studied the art of investing in the 20th century. Now is the XXI century.
All of Warren Buffett's investment models remain relevant. Therefore, he has no reason to revise them.
At the same time, a new class of financial assets appeared - cryptocurrencies and their most prominent representative - Bitcoin.
Bitcoin is an antagonist and alternative to traditional financial instruments. Therefore, Warren Buffett treats bitcoin badly and has repeatedly criticized the first cryptocurrency.
In order to be a successful person, it is not necessary to understand how our world works in all its details. It is enough to know a few basic ways of getting rich. Buffett knows them.
Therefore, he is a very successful investor and in this capacity he deserves respect.
If he's a die-hard anti-bitcoin, we should leave him whatever he does. Sooner or later, he might turn himself in and say that it's one of the greatest investments or he'll still say the same thing. But whichever he stands for, we wouldn't care about him anymore if he keeps on saying ridiculous negative statements about bitcoin. We will just keep moving forward whether he says good or bad about it. It's been so long that he's been an anti bitcoin yet it still remains intact and very noticeable in growth.
These rich people can say whatever they want, but at the end of the day, we are still here surviving. They don't need bitcoin, I understand. But right now, a lot of people are benefitting from this creation. So just ignore their statements. As long as you are happy with your life in crypto, that's all that matters. Many lives have been saved during this pandemic crisis because of bitcoin. Maybe he doesn't understand that. So let him do what he wants. That's his prerogative.
He's a known traditional investor and he likes more those assets that he knew since he has made himself renowned through investments.
I heard lot of people who are Bitcoin haters before and one of them is the famous JP Morgan who are I considered number 1 detractor of Bitcoin but in the end I was shocked that he became number 1 supporter too because of his huge Bitcoin investments and support. I just can't wait that Mr. Buffet will have the same fate too.
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