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Learning & News => News related to Crypto => Topic started by: TomPluz on March 07, 2024, 03:05:38 AM

Title: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: TomPluz on March 07, 2024, 03:05:38 AM
Quote
Warren Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World – He Considers Crypto 'Rat Poison' And Warns: 'I Can Say With Almost Certainty That They Will Come To A Bad Ending'

Buffett has been vocal about his caution toward Bitcoin and the broader cryptocurrency market, predicting a grim outcome. “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,” Buffett said.

As the cryptocurrency debate rages on, with enthusiasts and skeptics voicing their opinions, the insights of experienced investors like Buffett provide a valuable counterpoint to the frenzy.


Get more details here: https://finance.yahoo.com/news/warren-buffett-says-wouldnt-pay-175917403.html

(https://s.yimg.com/ny/api/res/1.2/YyKX_4uetFIuIOuC0BY39w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU0MDtjZj13ZWJw/https://media.zenfs.com/en/Benzinga/4e3cdb7ab7efb8a6c4fd7d3c32715a93)


Let me talk about two great guys, popular with all of us not just in the world of crypto, of course. I am sure we are all familiar with Robert Kiyosaki, famous author of Rich Dad, Poor Dad and he is so strong on his advocacy for people to get into Bitcoin and gold, like as safe haven to protect one's investments and wealth as the global economy can be facing headwinds in the years to come. Now, opposite to Robert Kiyosaki is Warren Buffet, a very known successful investment mogul and head of Berkshire Hathaway, a conglomerate with solid performance since 1839. With net worth of $134 billion, Warren Buffet is seventh-richest person in the world (https://en.wikipedia.org/wiki/Warren_Buffett). With Buffet's great success, people are looking to him for ideas and recommendations. However, this 93-year-old guy is not a big fan of cryptocurrency including Bitcoin as he is seeing no value at all with something he can not see, touch and feel and is one of the few predicting that eventually Bitcoin can crash and become nothing at all. Now, if you happen to be his nephew or niece, what would you tell him to reconsider at least Bitcoin or would you rather not change his stand on Bitcoin and just borrow money from him to buy more Bitcoin?





Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: hugeblack on March 07, 2024, 09:13:18 AM
Bitcoin, according to traditional economic concepts, is not considered a thing of value, as it has no value in its essence, but rather an increasing core on it, and it is not supported by any central body, such as the central bank, or an economic force that stands behind it and maintains its value. Therefore, with a simple explanation, Bitcoin is something that has no value.

It is like someone who wants to measure height in kilograms, he will get a zero result, so if Warren Buffett changes his way of thinking, he will see Bitcoin as a real value.
Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: Don Pedro Dinero on March 07, 2024, 03:31:12 PM
The first thing I looked at was the date of the news item, as I remember he said that a while ago. It seems that now he has repeated it again, or something similar. The fact is that Buffet doesn't like many things as an investment, he doesn't like gold, just as he doesn't like bitcoin, because it doesn't produce an income. His investments have mostly been in undervalued companies that pay dividends. He didn't like tech companies either, I guess because he is from a different era and found it hard to understand the business, but he finally bought Apple a few years ago.

It is normal for the news to echo these statements but he became the richest man in the world and he didn't need bitcoin for anything. At 93 years old, nobody should expect him to change his mind.
Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: PX-Z on March 07, 2024, 03:54:44 PM
It's okay, let the old man say what he wants, thanks for his nonsense, his colleague investors are profiting millions of dollars already investing in bitcoin. He is too old for new technologies, especially for bitcoin and he even just call bitcoin "magic" when he doesn't understand what he is talking.
Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: Captain Corporate on March 07, 2024, 06:38:18 PM
Warren Buffet is 90+ years old, we should realize that he is not the demographic that we are working towards with bitcoin to begin with. I mean we say "hold long term", how long could this dude hold it to be fair. One thing I will give him credit for, this dude has been alive for 90+ years, and he has been eating/drinking quite terribly, and still not getting any sick. Don't tell me its about money, I have seen plenty of super wealthy people get sick and die, sometimes there is nothing you can do about it. This dude just got lucky with the gene pool I suppose, because with his eating habits, he should have been gone long long time ago.
Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: Z-tight on March 07, 2024, 06:39:52 PM
Buffett has his own opinions, and they are his, i don't think they are correct, but if he believes in it and his followers think he is right, then it is up to them. Buffett has always spoken bad about BTC and other cryptocurrencies, he does not believe in them and he thinks they will come to a bad end. However, i agree with him that many coins will come to a bad end and we have also seen the end of many coins, but BTC is different, it has many use cases and it is very useful in the society, there is also a lot of demand for BTC, so there is no way it will come to a bad end.
Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: Woodie on March 07, 2024, 10:13:54 PM
Warren Buffett swallow your pride already!!

We are all entitled to our fantasies, and if Bitcoin doesn't do for you.. stick to investing in the labour requiring gold that needs alot of paper work to do and physical security to think about and not forgetting how it was acquired !!

Otherwise, as millenials I think we deserve to fork this old monetary  system and embrace what technology brings for us for more transparency and accountability, unlike Fiat which is printed at will..and don't bring that pyramid scheme talk here,am well aware  ::)
Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: trendcoin on March 07, 2024, 11:30:40 PM
I always have respect for old people. Warren Buffet is a unique genius who has proven himself in the financial world with his successful investments, but unfortunately, the environmental conditions that created his ideas are not compatible with today's world. Thomas Hobbes lived through the Thirty Years' War in Europe before he wrote Leviathan. The Thirty Years' War made him write Leviathan. If he lived today, he would have built the social contract on different dynamics. Warren Buffet is someone who has mentally passed into the afterlife for me. That's why I am not angry towards him, I just smile. :)
Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: yhiaali3 on March 08, 2024, 09:57:17 AM
This is not the first time that Warren Buffett has made such statements. We have been accustomed to hearing anti-Bitcoin statements for a long time, but in reality these statements go and Bitcoin remains.

This man is in his nineties so he is used to the old centralized financial system, he must have trouble understanding the complex technology and decentralized system. I think it would be better for him to take a long vacation and stay out of sight rather than say meaningless words.

I wouldn't be surprised if I heard that Warren Buffett is secretly investing in Bitcoin ;)
Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: Lucius on March 08, 2024, 12:34:19 PM
I can also say that I wouldn't give 25 satoshis for all his billions, but I think that my statement and his statement do not make any sense, because both are in their essence very underestimating and in some way unprofessional.

Regardless of all the experience and wealth he has, Buffett has shown countless times that he sounds like a broken record when it comes to some things, and although some will attribute it to his age, I would say that he is somehow disappointed that the world around him changed dramatically, and he wakes up every day with the thought of whether it is the last day of his life.

A "normal" man would have long ago enjoyed his retirement, playing with his grandchildren and going fishing, and Buffett just shows that he is a greedy old fart who will never be satisfied with the wealth he has. An ordinary man would be satisfied with only 1% of what he has.

Therefore, I would conclude that Buffett is an ordinary dinosaur who knows that his end is approaching, and the opinion of such people is not worth 1 satoshi for me personally.
Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: joniboini on March 08, 2024, 12:41:21 PM
Quote from: TomPluz on March 07, 2024, 03:05:38 AM
Now, if you happen to be his nephew or niece, what would you tell him to reconsider at least Bitcoin or would you rather not change his stand on Bitcoin and just borrow money from him to buy more Bitcoin?
I mean if I were his family, maybe I'm rich already so whatever he says I'll just let him be. No need to make our relationship sour and not get any tips from him just because of crypto. Heck, I'd just secretly buy crypto without him knowing with my lunch money now and then. Even if you're worried that retail will listen to him and no longer pour money into the market, you should realize that he is not the first one to say so, and certainly not the last critic to do so. However, the market is growing strong with businesses and even the government laying more groundwork for the future. Even if it ends as disastrously as he said, doesn't mean you can enjoy the benefits at all. A store of value or currency will function as one if the community believes so.
Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: robelneo on March 08, 2024, 06:30:11 PM
Quote from: TomPluz on March 07, 2024, 03:05:38 AM
Now, if you happen to be his nephew or niece, what would you tell him to reconsider at least Bitcoin or would you rather not change his stand on Bitcoin and just borrow money from him to buy more Bitcoin?

Buffet will never change his mind about Bitcoin it's a big blow to his reputation he thinks he is old enough to commit a mistake, and he might end up the only big name who does not believe in Bitcoin, if I happen to be his nephew I'll borrow money and buy all the Bitcoin that I can with the money, but of course I will not tell him, I will just fry him with his oil.
Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: Z-tight on March 08, 2024, 10:32:52 PM
Quote from: Woodie on March 07, 2024, 10:13:54 PM
Warren Buffett swallow your pride already!!
I don't even know if it is pride right now, or he just sleeps better at night when he talks bad about BTC. I love to let people have their opinion, but he needs to learn to let bitcoiners have their own opinion about BTC, if he does not think it is not worth buying for him, then he should keep his opinion to himself and not buy, but when he continues to talk negative about BTC and what he says makes no sense just like now, that is where people will call him out.
Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: TomPluz on March 09, 2024, 04:03:03 AM
Quote from: yhiaali3 on March 08, 2024, 09:57:17 AM

I wouldn't be surprised if I heard that Warren Buffett is secretly investing in Bitcoin ;)


I am sure that one day if Warren Buffet can last for another 10 years, we might find him or at least his own holding company to be investing with Bitcoin or any cryptocurrency for that matter. Some years from now, cryptocurrency will already be a well-recognized form of currency and asset that many big and small investors & traders will get into - when the industry has already saturated the mainstream market just like the fiat counterpart. Right now, we can see some popular figures in the world of investing really resisting the coming in of Bitcoin and the increasing acceptance and recognition it is getting...just like Warren Buffet who maybe has a hard time figuring out how something that is really invisible be so valuable.


Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: hugeblack on March 09, 2024, 10:26:27 AM
Quote from: Lucius on March 08, 2024, 12:34:19 PM
Therefore, I would conclude that Buffett is an ordinary dinosaur who knows that his end is approaching, and the opinion of such people is not worth 1 satoshi for me personally.
What is strange is that he has a wide range of investments, which will inevitably include a share of Bitcoin, but given his age and the profits he may make from investments in Bitcoin, 10 years (the average waiting to achieve good profits from Bitcoin) is a long period for Buffett.
Also, his statements do not interact positively or negatively with the market compared to the wealthy people of the new generation, such as Elon Musk.
Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: Lucius on March 09, 2024, 07:00:15 PM
Quote from: hugeblack on March 09, 2024, 10:26:27 AM
What is strange is that he has a wide range of investments, which will inevitably include a share of Bitcoin, but given his age and the profits he may make from investments in Bitcoin, 10 years (the average waiting to achieve good profits from Bitcoin) is a long period for Buffett.

I would not agree that you should wait 10 years to make a good profit when it comes to Bitcoin, because at the end of 2022 the price of 1 BTC was around $15 500 and now it is close to $70 000. Back in 2014 (that's exactly 10 years ago), Buffett called Bitcoin a"mirage", and at that time 1 BTC was worth about 70 times less than today.

Quote from: https://www.cnbc.com/2014/03/14/buffett-blasts-bitcoin-as-mirage-stay-away.html
Stay away from it. It’s a mirage, basically,” he said on CNBC’s “Squawk Box” on Friday.

Quote from: hugeblack on March 09, 2024, 10:26:27 AM
Also, his statements do not interact positively or negatively with the market compared to the wealthy people of the new generation, such as Elon Musk.

The reason is very simple, Buffett is not interesting to younger generations and he is not on social networks (at least as far as I know), while Mr. Mars needs to be constantly in the center of attention. However, I believe that Buffett has harmed Bitcoin with the more conservative audience that trusts him. I just hope that after 10 years everyone clearly sees how wrong he was, because Bitcoin is still here, and Buffett is slowly turning into a mirage.
Title: Re: Buffett Says He Wouldn't Pay $25 For All The Bitcoin In The World
Post by: Z-tight on March 09, 2024, 09:49:53 PM
Quote from: hugeblack on March 09, 2024, 10:26:27 AM
Also, his statements do not interact positively or negatively with the market compared to the wealthy people of the new generation, such as Elon Musk.
Men like Buffett usually have followers who believe what he says, mostly because of how rich he is, some of these people believe if they follow in his footsteps, they might one day get a lot of money. So i am sure such people may believe what he says about BTC and they might not buy it because of his opinions, as they cannot form one for themselves.

However, Elon Musk's influence on the market has also reduced, as far as i know, i don't think Elon can make statements or actions right now that would significantly move the price of BTC.