Topic: Warren Buffett & "Rat Poison" (Read 697 times)

Warren Buffet is 90 years old, and his net wealth stands at $96 billion. On the other hand, Elon Musk is 49 and his net wealth is $151 billion. So who will be your role model? A walking fossil with outdated ideas, or someone who favors new innovations? Warren Buffet hasn't done anything out of the ordinary for the last two decades and he is completely out of touch with the current market conditions. His wealth has increased only because of the general increase in the stock indices.

I guess I get it. Do you know how he decides to buy which stock he wants to invest? Dude checks the sheet and sees how much it should worth, what the stock price should be and if it is under that price he buys, if it is over he doesn't buy. It means he buys companies that he sees future in, coca cola, gilette, geico all companies that would make him a lot of money in the long term because their sheet looked great when he purchased.

This is why it makes sense that he doesn't invest into crypto, it would be weird if he started to invest into crypto these days, because that would be for the first time ever he invests into something that doesn't produce a "profit", that is the thing that he likes, he likes to buy something and make a profit, if this doesn't make a profit then what is the point of it really? Have you heard of him buy gold? I do not think he even invests in gold, how could he understand bitcoin.

right, everyone certainly has their own time, maybe he came to the conventional generation so it's still a little difficult to understand the digitalization era, although I think Buffett certainly has people close to him who are experts in the field of digitization, but the decision is still on the personal buffet. and we can't blame it, maybe later we will too

He's just jealous that others are becoming rich. It took a long time for him to become a billionaire. He spent his entire life working hard, wasting his youth. Now in front of his eyes, he is witnessing youngsters in their 20s and 30s who have become millionaires from their investment in cryptocurrency and these people are enjoying their life (unlike Buffet). And it is natural for these 90 plus people to feel jealous about the younger Bitcoiners. Also, wealth is sometimes measured in a relative sense. If there are a lot of wealthy people, then the importance of wealth goes down. Buffet definitely doesn't want that.

That is most certainly a possibility,  I think the younger generation that will be his successor will have a lighter approach towards btc than Buffet, he is an old timer and believe in investment that have physical appearance or stand, btc is digital and can't be grasp physically, this is something that Buffet find confusing and can't accept,  I really can't blame him though,  not everyone from his generation gets btc and crypto in general but some just decide to go along with this magnificent technology regardless,
Lol, describing btc as a 'Rat Poison'  is so hilarious  

Capitalist don't like fascism or communism though, they have limits in fascist nations and they can flourish in a communist setting. You are right that it is a rat poison but I dont think that the rats that you are talking about are loving this poison slowly with some of them pouring money in.

LOL.. you are right. He is just pissed off and jealous. At this old age, he can't understand how people became rich after just 2-3 years of investment in Bitcoin, when he himself needed several decades of hard work to become one. He is still not ready to admit that there are smarter investors than him. And this is not the first time that he is badmouthing Bitcoin. He has been doing this on a continuous basis for the past many years. We should just ignore this demented old fool rather than giving him more publicity than he deserves.

Buffett is right about bitcoin being rat poison which is why rats like him don't like it. It is indeed poison to statists and authoritarians who think they have a right to the products of everyone else's lives merely because they hold the guns.

It is the age old fight between freedom and collectivism. The fight to decide whether to go up towards liberty or down to the ant heap of socialism, fascism or communism.

Everyone can change, that's what I believe until now. So it is also with Warren Buffett who always says negative things about Bitcoin. I believe it
will take different for everyone to admit that Bitcoin is a great and profitable asset. In my opinion, don't think too much of what Warren Buffett said
about Bitcoin, let him realize himself. Because Warren Buffett's bad words about Bitcoin have been proven, it doesn't stop people buying Bitcoin.
Even this year the demand for Bitcoin is very high and many institutions are buying Bitcoin too. So leave Warren Buffett with his own world.  

You can still try to interpret his words as like " if this is beyond my understanding, then I strongly do not recommend contacting it" And his "I don't understand" is akin in meaning to the words "I don't want to understand". Indeed, what can we say about a 90-year-old person, when people much younger than him in age express such thoughts. Here it is already worth talking about the rejection of bitcoin itself as a concept by such people.

Without a doubt his experiences have shaped who he is and especially his philosophy when it comes to trading and investing and when you take into account the world in which he was born then it is very understandable why he doesn't get the concept of bitcoin, but that is not the problem that we have with him, the problem is that he openly claims that he doesn't understand bitcoin and yet he is bold enough to call it rat poison and the question is how he can say that when he claims he does not understand bitcoin?

The logic of "will it change the way I chew gum" is obviously a metaphor. As in, will this new invention change the world and become the standard, or will it be a unique hobbiest item. Everybody knew that computers were a great thing even on the very very earliest days of it, however people didn't jumped into the ship right away and having a global computer world took some time obviously, if we were smarter we would have created a computer for every single person in a year and given that out and see what type of marvelous achievements everybody would had with them, it would return with a profit instead of a loss with that much cost at hand.

So the reason why we didn't was the fact that everyone assumed it would be a hobbiest item, like someone who is an engineer of sorts would have used it, and nobody else, but we all know that is not true right now. Buffet was talking about the differences there, he picked the wrong side but I get it.

Humans have their own perspective, and that mindset is what makes each human being unique.  Like Warren Buffet, he has a clear background in financial assets, especially in stocks.  He is an investor who is guided by the fundamentals of financial assets.  And that's fine.  Whatever it says at this point about Bitcoin, it will not change whatever the future holds.  For example, in 2011 he said he did not like gold because it was considered an unproductive and lazy investment.  But later in 2020, he bought gold which was said to be a non-productive asset.  Until the movement is considered a signal of the stock market crash.  What's the difference now with Bitcoin, I still believe that in the future Warren will change his mindset towards Bitcoin and become the next Bitcoin triumph.

Honestly at 90 years old, what do you expect from him? Dude was born in 1930, by comparison the world war 2 happened when he was a teenager, at 15 years old, nearly old enough to join it himself as well. Dude grew up in one of the worse periods of humanity, his father was a very rich man with a lot of money to spare, he started his career with 100k from his family to start investing and never had a troubled life ever, dude even drinks coca cola everyday and eats candy and french fries and still managed to live until 90, so we can safely assume he is one of the luckiest people in the world ever in history.

This doesn't discredit the fact that he is probably the greatest investor ever, rarely ever lost money and always had a sustained profit for decades, but when you are that good and everything goes great, why even try to learn about new things like bitcoin when you are 90?

Everything has its risk, if you are having a property which you have attained when the valuation was lower, then the risk is lower but if you are someone who recently purchased the property then there is a chance that the market could go down if there is an economic recession and that is the case with every other investment. Not tried any of the crypto holdings you mentioned, if it can survive the next 5 years then it is great as i highly doubt whether those will last.

In the 90's when Microsoft was getting going and Bill gates started to have some serious money.  and I might get this wrong since I heard the story many years ago.

Bill gates met Mr Buffett at a party of some sort and Mr Gates asked Mr Buffett to invest in Microsoft and Buffett said. " Will it change how I chew gum?" and didn't invest at that time in MS. 

His point was examined by people smarter then me and basically it was he saw the tech as changing fast enough to not understand it or where it was going and thus didn't invest.

He wanted then and still does very stable long term investments.   Bitcoin is anything but stable and while we wish and predict where its going the reality is Its Speculation with a lot of upside and seems to be gaining ground.   If you are interested in the details on the investing style, Phil Town runs a podcast called InvestED where is breaks down how Buffett and Munger function.   BTW Mr Town is worth 15 billion or so.  So I don't think hes full of crap.  He calls it Rule 1 investing.     Amazing simple the rule is :  Don't lose money.    And then goes about telling you how to not lose money.  And while I'm no expert And I'm not worth much I haven't yet lost money.

The speculators and investors seems to be at odds all the time they shouldn't be, they need each other.  Without speculators there would be nothing to invest in, and without investors there wouldn't be money to speculate.

I don’t really like engaging in this kind of arguments with people, when they start up things like this, I just tell them that Bitcoin wasn’t meant for things like this, I refer them back to when Satoshi Nakamoto created Bitcoin and what he had in mind, which was just to create a decentralized money and nothing else, but since it has a price and it fluctuates, people now sees it as a money making means, and there have been stories of those that became millionaires through it, and everyone now wants to be a millionaire through Bitcoin. Let’s not forget the main purpose for transactions, they are now trying to divert everything.

Personally I would not have any kind of problem with Warren Buffett if that was the explanation that he gave for why he did not invest in bitcoin and he leaved it at that, to me it is completely natural that you do not want to invest in something that you don't understand and if you are making already a lot of money in other investments then why bother with bitcoin? However despite not understanding the technology and why something like bitcoin exists he takes the time to criticize it and that's the main problem that I have with him.

That's if the tenants are all decent people. Sometimes they are not. Sometimes they damage your property, refuse to pay the rent and not even go away. My father had one tenant like that and it took 1 full year before he get rid of him.

My point is, he spent his time on this individual. Lost both his time and money. That's not passive income.

Of course sometimes you just get lucky and collect the rents without any trouble but it is getting more rare lately considering the financial situation of most families out there.

And if you have more than 10 tenants it is very likely that there will be at least one nut that's going to drive you crazy. If you keep your passive stance and ignore him, then he will live in your house free of charge. 

There are some people with visions which are limited, and there some people who think its unlimited supply of money that can be earned as well, you have to find the middle. People who always say "bitcoin is dead" or "bitcoin will die" type of things are wrong, there is really nothing that can kill bitcoin and it will always go higher and higher, but people should realize that there could be corrections or crashes in between as well, do not assume it will be a million dollars in a day, that is a bit wrong too.

I do not get why people think it is an "either or" situation, bitcoin doesn't have to die, it doesn't have to be a million dollars neither, it just needs to go high and that's it nothing more. It is going to take a while for bitcoin to reach 100k, or even a million dollars one day, but if you look at close levels you can see 50k is quite possible.

Oh, has he fallen out of the list of the top 10 richest people in world? Like all the way down to number 7?

https://www.msn.com/en-gb/money/technology/10-richest-people-in-the-world-list-of-wealthiest-people-on-earth-as-elon-musk-knocks-jeff-bezos-off-top-spot/ar-BB1cAbGB

But let's pretend he had fallen out of the top ten richest people on the planet, like all the way down to 15.  Or 20, oh the humanity! Let's pretend there were a ton of people who ranked above him now and the only thing he did was increase his wealth 22 billion dollars between March 2020 and January 2021. (True story!  It was only 67.5 billion last March:  https://en.wikipedia.org/wiki/The_World%27s_Billionaires#2020)  I mean wow, what a loser, amirite?

If there's no material involvement from your side, i.e. you simply collect a percentage of earning from the tenants then yes that is passive income. Let's not play the specifications game here, I only wanted to stress the fact that even with passive income there is risk involved, you can't simply rule that out.

Buffet is a value investor, so he depends on an analysis of the valuation of a stock to its projected future cash flows to determine what a good investment is over time. Since Bitcoin doesn't produce cashflow, he has no basis for valuing it. It's really as simple as that.

Warren Buffet is free to voice his opinions. He is having a negative view about Bitcoin and let's respect his views. Cryptocurrency users need to ask this question - does Bitcoin needs Warren Buffet? I would say that the answer is no. He was a successful investor, but that was many decades ago. Now the best thing for us to do is not to give him unwanted attention, especially when he is badmouthing Bitcoin.

I don't know the real reason why Warren Buffett always thinks negatively about Bitcoin, I think Buffett will not withdraw his words about Bitcoin
at any time. Indeed, the fact is Bitcoin may not be liked by everyone, there will always be people who hate Bitcoin. We really shouldn't force
someone to like Bitcoin, because everyone has their own choice. Even I can't convince everyone in my environment that Bitcoin is the best asset
for now.

I know it's incredibly trendy in the crypto community to hate on Buffet, but one of the quotes you quoted on him is not only true, nobody here is able to rebut it:

“You’re just hoping the next guy pays more. And you only feel you’ll find the next guy to pay more if he thinks
he’s going to find someone that’s going to pay more. You aren’t investing when you do that, you’re speculating.”

This is bitcoin in a nutshell. No intrinsic value, doesn't produce income, it is merely a speculative asset and the only thing that gives it value is a large group of people agreeing it has value.

Here's the thing- if you think bitcoin doesn't have value, you won't buy it. If you think it does, you will. Neither of you are right because there is no objective truth to this. And both of you are right because there is no objective truth to this. You cannot sell bitcoin to someone who doesn't think it has value. The only reason those who have bitcoin think it has value is because you think you can sell it to someone else who also thinks it has value. Exactly like Buffet said.  This is the very definition of arbitrary value. This is what makes it speculative.

Simple question:

Let's say you own 50 different real estate which you collect rent from. Would you consider this passive income or a separate business?

I think that's a business. It would be passive income maybe if someone else was dealing with the tenants though but then you need to deal with him. 

In the eyes of the critics it has reached beyond their vision if its limitations.
We may see a statement from him this year at some stage, so many
people will be wanting to see if he is positive now that so many institutional
investors have made a move into Bitcoin, and his interviews are always
news worthy. The media definitely will have him in their sights for interviewing.

Risk is always involved! Unless you want to patronize me like Robert Kiyosaki would do about the difference between assets/liabilities...
https://www.richdad.com/what-are-assets-and-liabilities
Whatever form of passive income you may think of, will always imply risks! Even when you cross the road, you may accidentally die.

He is just too old for btc. At least, he is not shorting it. He is not our enemy

Beyond what limits? An endless increase in the price and then its collapse and repeated increase and so on in a circle-this is not going beyond the limits of possibilities but the usual cyclicity. There is no over-overcoming and change of form both in oneself and in the public consciousness.

But maybe we will not deceive ourselves and agree with the fact that cryptocurrencies have no value as such because they do not produce anything? This is really just a fiction, a surrogate, an attempt to be money without being money. Every dollar spent leads to the fact that somewhere something is produced again or makes production easier-better-better. While BTC exists a long time ago only for the sake of making a larger number of dollars out of a small number of dollars.

Now that Bitcoin has reached beyond its limits, I don’t know what Warren Buffett has to say. What kind of new nickname does he have for Bitcoin now? His “rat poison” Bitcoin nickname have failed. I started losing my respect to this guy because he thinks that the traditional way of investing is still the most effective up to date, but it looks like he’s got it all wrong because he is left behind by the Bitcoin train.

Taking risks to make money is not passive income. That was my point.

You rent your real estate, that's not passive income. That's just another business which you'll have to keep your eyes on because the tenants always carry some risks.

Managing your risks = business. That's not passive income. Now you should realize everything you do to make money has its own risks that means it is not passive.

Passive income can come in many forms like renting some real estate, saving accounts, dividends and the list goes on. Even in the crypto world if you would like to take some risk you can get some interest on your crypto holdings on both CeFi (Nexo, BlockFi...) and DeFi (Compound, AAVE...) platforms.
There are definitely some ways to earn while you sleep.

Yes he is successful because he is investing only on the assets which he has deep knowledge about since his childhood days by tat time there is bitcoin and blockchain that is why it is hard for him to accept the blockchain technology even is something unique and hackproof.

Most of his followers are also having the same mindset, they don't want to invest on bitcoin because they believe that bitcoin total supply can be altered someday just because the creator wants to make some money.

If you think it's impossible to make money while you sleep than you need to think everything all over again! I don't know what did you learn for all this time spent in crypto (you are a legendary member man!), but I guess you need to learn some things again! You can invest in services/projects and to have passive income! It was available before in many ways, but I guess crypto made all that much easier!
I didn't misunderstand it, I understood it as it's written... you either bust your ass every day for your paycheck, or you arrange "things" somehow to earn while you sleep (you don't have to be present somewhere, you don't need to bust your ass on rain and snow...)!
You "make money" or you don't "make money"! There're no definitions here, what we can discuss here is the "ways" of "making money"... the first one is legal or illegal... later we can divide it on other ways!

I don't know what you understand from that quote but I think is misunderstood.

I believe what he really means here is "You will work until you die because it is impossible to make money while you sleep."

It also depends on the definition of "making money" everybody gets it differently I guess.

Warren Buffet said:"If you don't find a way to make money while you sleep, you will work until you die."! I respect that!


I think you have a point Hydrogen, in some way Warren Buffett has to be connected with crypto, through his companies! And excellent reminder about JP Morgan!
People are not from stone, so it's normal for people to change their mind from time to time! And I think many people changed their mind about crypto, and many more will... just give them time!
One of my good friends said that he will buy bitcoin when it drops to $20k, and if that happens... I am talking about bitcoin since $150...and he had many comments, conspiracy theories...but after recent ATH he said he is buying a wallet (like the one I have) and he is buying bitcoins... I almost forgot, he saw in newspapers something about the report from Wall Street, I told him more about it and said I am waiting that moment to see him owning BTC after so many years of talking against it!

If you wish to see more about the Wall Street report, one of the members here have a nice topic about it... here it is: https://bitcointalksearch.org/topic/m.55958296

...

• Warren Buffett owns stock in the banking industry
• The banking industry buys and holds bitcoin
• Warren Buffett owns bitcoin, by owning the stock of banks, who own bitcoin

Its the same as the CEO of JP Morgan, Jamie Dimon, making comments on bitcoin.

Before JP Morgan adopted crypto investment.

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.

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.

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.

Come on that's an overstatement: I can't believe you have never witnessed any tech-savvy old-timer! I know many actually, and a few a of them got into bitcoin thanks to my explanations and some of them know bitcoin better than me now, given their past background in IT and economics. WB represents another financial world that can't recognize bitcoin, just yet.

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

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?

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.

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.

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.

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. ?

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.

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.

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

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...

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.

It is Warren Buffett and he's been known to be anti-bitcoin and said a lot of things against it. He won't change his mind or he will but like a chance of 0.001%.
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.

Warren Buffett follows a school of thought that is outdated.

Value investing should only be applied to the concept of cash flow generating businesses. Of course a currency wouldn't have any cash flow per se.

The irony is that Buffett himself actually deviated from his teacher's (Benjamin Graham) initial concepts in a similar way, which was what allowed him to profit off of a lot of companies that weren't necessarily undervalued under the very classical value investing framework.

By his logic, you could call all foreign exchange trading "rat poison" just because it doesn't necessarily generate any cash flow. But with the right models and assumptions we have seen individuals consistently beat the market with FOREX trading. Otherwise, why would IBs and wealth managers hire the brightest minds to trade these products?

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.

Exactly. This is the reason why he will never invest in bitcoin. It's because he doesn't fully understand how it works and why it works. Buffett is exhibiting the bias that he has on traditional, regulated assets that he has known for a long time, and is refusing to acknowledge any merits whatsoever that bitcoin and cryptocurrencies has under their belt.

Buffett is beyond 'saving' at this point on his neck-deep involvement on assets that made him filthy rich, and I couldn't blame him about that.

It's okay if he releases such remarks against bitcoin from time to time, as bitcoin slowly proves its point every time the billionaire comments negatively about bitcoin. This way, people will have some sort of 'basis' on whether or night Buffett is right or not.

This kind of invalidates majority of the statements, if you've not taken out the time to understand a thing or you don't fancy the idea behind it, it's usually best to just ignore. Not everyone is sold on the idea of bitcoin and that's totally fine, as we all have the freedom of choice.

Old habits die hard, and Warren has most likely picked up a number of habits on his rise to success, Bitcoin may just not be a part of that.

Warren Buffet is an investor that I have a lot of respect for, I have read his books and they are honestly very good, his advice is really spectacular, in fact he is merely an investor, because he is a person who is capable of research. the best stock, investing and waiting up to 10 years to see its benefits, knows the stock market very well, what happens is that Bitcoin is against all the laws for him, volatility is an issue that he does not allow in his analyzes, he goes for Safe and backed stocks, it is almost like an old school economist and since Bitcoin is not backed in gold, gemstones or otherwise, it makes said investor look insecure.

Now with the lesson that he is giving Bitcoin, it is obvious that he has to learn something new and that from there he must accept that this economy is possible, sustainable and real.

we might need to leave Buffet out of bitcoin, A 90 year old man need to take risk in his area of understanding. To correct the notion that Buffet has written many books' Is not true, he has written many popular annual letter for many years; they are educative, concise and simple. Some of the extract in letters are used in books written in his name. He is also a great teacher as have seen in some of his visits to business schools

"this Wallstreet old boy" is unlikely to want to change his mind about Bitcoin.  I'm a little curious why when Bitcoin broke through $40k (latest Bitcoin ATH) he did not make a comment about Bitcoin!!  did he realize that he was thinking wrongly about Bitcoin??  

Without a doubt Buffett is one of the best if not the best investors of this era so when he talks people listen so I get why he does not want to invest in bitcoin as he has claimed many times in the past that he does not invest in things he does not understand, but that is the issue, he does not understand how something like bitcoin works and as such in this particular topic at hand he is as ignorant as the average person, as such we must no value the same way the opinions he has about this market than his opinions about stocks and other fields of knowledge in which he is a master.

I agree, on researching the OP I actually warmed a little
to him, he has done extremely well for himself and the company.

I dont think ive been harsh on him in the OP, I just wanted to list quotes.
Lets face it, they are entertaining, not at the time they were reported though.

There are lots of characters and critics in and around the crypto space and WB
does seem from time to time to catch a lot of flack. A lot in my twitter feed recently.

Ah, leave Warren Buffett alone.  He's entitled to his opinions on bitcoin just as any of us are, and it's not his thing.  It would be hard to argue that Buffett is a stupid man--he's not, but that doesn't mean he can't be wrong on certain things and I think he's wrong about bitcoin (as I'm sure most of us do).

Bitcoin and stocks are two very different asset classes, and Buffett has displayed his genius in the latter category over multiple decades.  He knows about businesses, and bitcoin doesn't represent a business, which is why I think he's not interested in it.  But hey, not everyone is a bitcoiner.  There are plenty of people in the world who don't like crypto; Buffett is just one of those.

...or maybe when he relinquishes his CEO title and hands over control
to his successor he along with the next generation might be a bit
warmer towards Bitcoin.

There is no doubt that his investment thesis still work and is still valid till today, the problem with Buffett is that he wants to invest in something he can hold and has huge potential for consumer adoption, this is how he got it write with Coca Cola but the world is changing everything is now digitalize. I just hope those people advising him let him know this

Warren Buffett – CEO Berkshire Hathway

Is considered to be the 4th wealthiest person in the world. He has invested in Coca-Cola in the 80’s,
this is probably their best known investment along with investing in Apple.

He was listed in 2007 in the Times 100 most infleuential people and has donated Billions of dollars to various charities.

He has written numerous books and is known to like telling stories so no doubt he also likes his quotes
to reach far and hit hard and is a very outspoken critic of Bitcoin and Crypto.

After seeing recently some tweets aimed at Buffett and quoting the famous RAT POISON attack by Buffett I decided to
list his other quotes against Bitcoin.




March 14th 2014 - https://www.cnbc.com/2014/03/14/buffett-blasts-bitcoin-as-mirage-stay-away.html#close

“Stay away from it. It’s a mirage, basically,”

November 6th 2017 - https://www.forbes.com/sites/johnwasik/2017/11/06/why-buffett-sees-bitcoin-bubble/?sh=38f186e462a8

“You can’t value bitcoin because it’s not a value-producing asset...it's a real bubble in that sort of thing.”

"It doesn't make sense. This thing is not regulated. It's not under control. It's not under the supervision
[of] any...United States Federal Reserve or any other central bank. I don't believe in this whole thing at all.
I think it's going to implode."

January 10th 2018 - https://www.cnbc.com/2018/01/10/buffett-says-cyrptocurrencies-will-almost-certainly-end-badly.html

“In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,”

“Why in the world should I take a long or short position in something I don’t know anything about.”

May 1st 2018 - https://www.cnbc.com/2018/05/01/warren-buffett-bitcoin-isnt-an-investment.html

“If you buy something like bitcoin or some cryptocurrency, you don’t have anything that is producing anything,”

“You’re just hoping the next guy pays more. And you only feel you’ll find the next guy to pay more if he thinks
he’s going to find someone that’s going to pay more. You aren’t investing when you do that, you’re speculating.”

“The idea that it has some huge intrinsic value is just a joke in my view,”

May 5th 2018 -  https://www.cnbc.com/2018/05/05/warren-buffett-says-bitcoin-is-probably-rat-poison-squared.html#:~:text=%20Warren%20Buffett%20says%20bitcoin%20is%20%E2%80%98probably%20rat,Quick.%20Buffett%20is%20presiding%20at%20Berkshire...%20More%20

“probably rat poison squared,”

February 25th 2019 - https://www.cnbc.com/2019/02/25/warren-buffett-says-bitcoin-is-a-delusion.html#close

“Bitcoin has no unique value at all,”

“It is a delusion, basically.”

“It attracts charlatans,”

February 24th 2020 - https://markets.businessinsider.com/currencies/news/warren-buffett-blasts-bitcoin-worthless-vows-never-own-crypto-value-2020-2-1028932272

"Cryptocurrencies basically have no value," Buffett said. "They don't produce anything."

"You can't do anything with it except sell it to somebody else," he added. "But then that person's got the problem."

"Bitcoin has been used to move around a fair amount of money illegally,"