If you have given the past few years’ rich lists
If you have given the past few years’ rich lists a glance, you would know of Warren Buffet, the business magnate helming the multinational holding behemoth called Berkshire Hathaway. Now, most men and women who have made tonnes of money would know a thing or two about investments. Speaking of investments, it makes us wonder: what does Warren Buffet think of Bitcoin?
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About Warren Buffet
Warren Buffet is currently the third richest person in the world according to the rankings done by Forbes, for its latest list of top 50 billionaires, published this year.
This 88 year-old self made tycoon is currently the chairman and CEO of the Berkshire Hathaway company, which he bought in 1969.
He eventually went on to take the company to great heights, earning a net worth of a whopping 78.7 billion dollars for himself in the process.
A Harvard reject, he went on to study in Columbia University, another Ivy League institute, and excelled under the mentorship of Benjamin Graham.
Graham was the person to have come up with the concept of “value investing” which influenced Buffet’s own investment decisions and went on to influence his investment habits.
Warren Buffet’s Opinion About Bitcoin
A traditional investor who has spent most of his life at an era when Bitcoin was not even a distant dream, Buffet understandably does not have the most welcoming attitude towards Bitcoin as a form of investment or even as a form of currency.
Buffet is of the opinion that Bitcoin is not much more than a bubble and feels that it cannot be valued as it is not a value-producing asset to begin with.
In the past, Buffet has even raised concerns over how unregulated the field of cryptocurrencies is.
In the past, he has made the following statement about the lack of regulation controlling Bitcoin and other cryptocurrencies:
“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.”
Openly dismissive of Bitcoin’s potential and value, he has also commented:
“The idea that it has some huge intrinsic value, is just a joke.”
He has advised fellow investors to “stay away from it” and has said Bitcoin is like “probably rat poison squared”.
As all these comments reveal, Warren Buffet is anything but the biggest fan of Bitcoin out there. His opinion about Bitcoin seems clearly unfavourable and are likely to remain so.
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