Topic: Why does Warren Buffett scold bitcoin? (Read 315 times)

Warren Buffett does not believe in bitcoin, as in 1999 he did not believe in the Internet. He does not believe in technology. But Blockchain technology has come into our lives and will never go away. The current financial system is outdated and the currency will replace it.

I’m hoping his just in bad day or in day dreaming(nightmare) at that time. Being a billionaire doesn’t give you the authority or a license to say on what’s is right and what is legit or not. He has the right to express his opinion, but it doesn’t mean we won’t do anything to counter such fud and negative nonsense from Warren Buffet. Let’s him eat those words and regret when everything is too late.

Warren Buffett most likely invests in the crypto currency and now specifically says that Bitcoin has no prospects to frighten people and buy themselves more crypto currency at a price much lower than the current one. Do not let yourself be manipulated.

Of course, we can not know the true causes of their words, but on the minds of people there is a some play. The thought of trying to drop prices for buying cheaper makes sense.

+1

All they wanted is to get more bitcoins at cheaper rates.

There are those who love bitcoin for its future and the opportunity to enrich quickly on this coin, and those who hate for outdated technology and slow transactions. But everyone understands that bitcoin will remain the leader of the whole market and will still show its records.

Maybe big people and companies are really waiting for the bottom of bitcoin so they can have more bitcoin at a lower price. People is panicking especially when they hear news coming from a big businessman so technically the market will crash and those big man will enter and manipulate the market.

it is probably because he knows that investors are just speculating on it. He knows that when speculation outweighs the real value, bad thing will happen next, ex: high volatility. When Speculation stops or minimizes and more value has been delivered Then expect a stable price of blockchain going up.

Most of the big investors and institutes are already entering or have entered the crypto market, some examples are nasdaq launching their own btc exchange and wall streets biggest funds have also gave green signal about entering crypto, it is just that the few that have still been away from crypto are talking negative about it just because they do not have any other option, because they will look stupid if they have not invested and are talking good about crypto, we have seen last year big names calling btc scam, created fud and panic selling and then jumped in themselves with heavy investment making huge profits, these giants are nothing but manipulators.

All those people want to buy bitcoin and regret as they could not buy it so psychologically and knowingly they want bitcoin to crash and people to sell their holdings.

I do get your point but i dont think this is the reason why Warren Buffet dont like bitcoin or crypto but i do see this is either just a drama or just hes just bitter on how Bitcoin do progress on a short period or span of years. It did make a remarkable history when it is almost hitting up some traditional assets and currencies when it comes to over all cap.We dont even know if hes just doing this thing to make the public panic and buy cheap coins underground on his own.

Or they are probably looking at marketing or supporting another coin which they hold in millions maybe. They are propagating FUD to pull price down.

Because he knows that blockchain is a threat and wants the price to crash so him and his old geezer investments buddies aka wall street can buy into it cheap.

Whenever a significant business figure comes out against bitcoin then it is either because they see it as a threat to their current hegemony, or else they are just using their prominence to short it. Possibly, probably, both of these two. You just have to think about why they are expending so much time and effort to go out of their way to attack something that they complain is pointless and a scam. Why does it bother them so much?

easy! Warren Buffet is secretly into bitcoin investment and talking negatively about bitcoin in order to create panic selling to people who believe in him, in the other hand his company or he is secretly buying bitcoin while the price is down at the moment, wow! this guy is a genius his strategy is out of this world, just my own opinion but I'm sure that Warren Buffet is into cryptocurrency

If I remember correctly Warren Buffett once complained about not investing in Goggle and similar new companies, look he is the best fundamental investor in the world but that does not mean he knows everything and that his words are some kind of law, he is mistaken about bitcoin and maybe he will live long enough to see it.

ofcourse, he has a lot of bank shares and other traditional assets, and will be the one first industry to get disrupted. And who knows he might already own some and that's just his strategy to affect prices.

he doesn't really "scold" bitcoin though!
the interviewers usually ask him  about bitcoin out of nowhere and force him to give his opinion and he says it. then the media reports the negative parts and puts them under magnifying glass so that it looks like it.
for instance he never called bitcoin a "rat poison"!!! the interviewer told him someone called bitcoin a "rat poison" a couple of years ago and then Warren made a joke about it. then the media said Warren Buffet has called bitcoin a "rat poison".

Warren Buffet stands to lose a lot of money if bitcoin and cryptocurrency succeed.  He is invested in the traditional banking system, credit cards, etc.  I'm not sure why he care so much about destroying bitcoin at his age and with his level of wealth though.  It's not like he needs any more money, It's probably more of an ego thing.

I think Warren buffet is fear in Bitcoin reputation because last year it was gradually raise in marketcap so they feel it will beat the amazon market cap. But current scenario many whales are involving in price fluctuations so market cap also dump in the market. I hope bitcoin will beat the Amazon market cap.

You will never know sold it or not. Look at the history of the richest families, they all were cheating at the beginning) All made huge money on rumors)

Warren Buffet is indeed a solid investor and probably one of the most well-known ones. But! He makes mistakes and I am sure he will admit that Bitcoin has huge power!

As in the proverb, the dog barked and the train moves. So we will listen and we do it all the same for the good of ourselves. It is not necessary to rely on someone else's opinion, it is also untested and unreasonable.

Waren and billionaire dislike cryptocurrency, because they are rich enough and for them not worthy to buy alt coin and risky because cryptocurrency market is in a grey area. no clear regulation in any country. they support the technology but don’t support the market.

there are many billionaires who oppose bitcoin and crypto, but some also support bitcoin and crypto. indeed the pros and cons always happen, but we do not know the real purpose of the opponents, because they can also benefit from the statement of the controversy.

I think this is normal because everyone has a positive judgment and a negative assessment of cryptocurrency and Warren Buffet is an example,

They want to dump BTC price to make panic sells of the crowd and want to buy the dip for long term hold. When weak hands will sell BTC for cheap - new pump cycle will begin.

I think the best reason why such billionaires create fud about btc and crypto is because of the fact that they think that they have missed the train or late so they want to fud to create panic selling so they can buy themselve for cheap price, just keep holding market will be back sooner or later.

I think the people around it are losing bitcoins, or he has made a lot of money. These people are all conspirators.

TV anchor Max Kaiser explained why Warren Buffett scolds bitcoin

American TV presenter and bitcoin optimist Max Kaiser attacked the billionaire investor and CEO of Berkshire Hathaway Warren Buffett and his vice-president Charlie Manger. Recently, Buffett compared bitcoin and other crypto-currencies with "rat poison in the square," and Munger called the fascination with them "dementia." Such comments triggered the reaction of millions of supporters of the crypto-currency market.

In response, Max Kaiser, a well-known film director and TV host, in his Keizer Report program on RT, indignantly stated:

Bitcoin is a reaction to Warren Buffett and his friends, corrupt capitalists. They do not want to descend from the pedestals of the clan capitalism and to refuse the free money of the central banks, so they attack the crypto-currencies.
Adding oil to the fire, Manger recently stated that the trade in crypto-currencies is "an occupation for those with an underdeveloped childish mind." Earlier, the 94-year-old Harvard graduate also said that bitcoin is "the top of senility". In an interview with Yahoo! Finance, he called the flagship crypto currency "antisocial, stupid and immoral".

Kaiser reacted to these comments, saying that the crypto currency would soar above $ 30,000 "right before Manger's demise". Earlier, Kaiser claimed that bitcoin could reach $ 100,000.

Without mentioning the time frame, Kaiser said that it is possible to predict the future growth by analyzing the situation in the current crypto-currency market. It is noteworthy that the famous crypto-enthusiast John McAfee several times with certainty expressed that by 2020 the price of bitcoin will reach $ 1 million.

Meanwhile, another billionaire and "bitcoin bull" Mike Novogratz said that it would be "irresponsible" not to have bitcoin in the investment portfolio. Also, according to him, investors should keep 1-2% of their funds in this crypto currency. He noted that people should invest in crypto-currencies, because ultimately the technology of blocking will significantly affect our lives.