"Short suitcases!" Warren Buffet's view on Bitcoin
I have to admit, sometimes I wonder, "Who am I to think Bitcoin has value?" When there's Warren Buffet - an insider on money, value, business and trading with decades of experience - who says the opposite?
Many Bitcoiners say, "I really respect the guy, except his views on Bitcoin."
But isn't that just wishful thinking, that Warren Buffet - who must have been right about a lot of things in his life, given his wealth - will be wrong about this one thing that we happen to love and want to succeed?
Does he really not get it? Or do we not get it?
Or does he know all too well, but needs to protect himself and his investments?
Is the value we see in Bitcoin really a generational thing that he simply cannot relate to? Something that goes way beyond money, but is much more about freedom of speech and self-sovereignty?
Or is he tired of changing his ways, accepting new ideas, because his old ones have served him all his life and continue to serve him right now? Does he really have an incentive to care about Bitcoin?
I don't think so. Even with a market collapse, he'd still be one of the richest people in the world. He can totally miss out on the crypto boom from a money perspective.
My guess is he simply has better things to do and more enjoyable things to think about. That's it.
I do find it sad that he still puts Bitcoin in the same bucket as Ponzi schemes and Money Laundering. But, oh well.
I did have to chuckle when he said "shorting suitcases" would be a good idea. He's probably right 😁 Though I do believe Bitcoin has more economic value than just that ;)
About the author:
| Anja Schuetz helps absolute beginners to become confident crypto investors. She is the author of How To Stay Safe in the Crypto Space and offers Free Bitcoin Education For Beginners on her website. |  |
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Buffett looks at cryptocurrency from the financial perspective and not from a technology standpoint. He doesnt understand technology at all.
He didnt invest in Apple for more than a decade because he didnt understand how the company made money.
Posted via Steemleo
If BTC was still only worth $0.01 will you still be keen in exploring its technology ? 90% of the people would not be bothered, however the remaining 10% are believers in the technology and will continue to develop on it.
Look what happen to the rise of the dot com. People went crazy at first about grabbing their own online real estate and price just bubbled up like mad...this was purely for financial gains even though many still didn't know the true potential of owning domains.
Only once developers started building really cool stuff and disrupting traditional businesses, then people start seeing value and believe in it.
I look at crypto value by the tech and not only financial gains, for big time investors, there are just too many variables which could lead them to loose financially in comparison to their other investments, so until more assurance is being brought forward to them they will continuously protect their traditional investments and not shill something which has not assured them as a good investment
Hi @connecteconomy
Thank you for the interesting post and video.
I admire Mr Buffet like I admire many people, but I am not uncomfortable about believing Bitcoin has value. I think the tried and true adage that’s things gave value because people think they have value is true. As for Mr Buffet, one of his foundational principles is to buy companies which he understands and who have an established brand and a renewable product. That philosophy excludes Apple, Netflix and other technologies for a long time. Until he understands the company, the company has an established brand and products people buy frequently. Bitcoin won’t fit those three criterion for a while.
✍️
All one has to do is look at the growth in #DeFi to understand the value prop of Crypto, especially ETH.
I agree. Though the mainstream will take years to embrace and trust #defi.
"8% annual interest rates? What's the catch? This sounds too good to be true!!"
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Hi Anja. Thanks for sharing. Have you heard about Ecoin yet? I just posted about it here: https://steempeak.com/hive-110490/@atma.love/crypto-mass-adoption-how-will-ecoin-affect-steem-and-other-crypto-s
Be sure to rad John Huckel's open letter too.
Namaste
Atma