The legendary investor Warren Buffett, whose fortune is estimated at $ 100 billion, believes that buying bitcoin is not investing, but rather speculation or even gambling. This thought the head of Berkshire Hathaway expressed in an interview with Yahoo Finance.
"There are two types of things that people buy when they think they're investing," Buffett said. — The first type is a real investment, and the second-no»
According to him, bitcoin belongs to the second type.
"If you buy something like a farm, a house or a share in a company... you can do it privately... it's not a bad investment. You treat investment as something that will bring you income. Now, if you're buying something like bitcoin or some kind of cryptocurrency, then you don't actually have anything that could produce anything. You just hope that the next guy will pay more, " Buffett added.
It is noteworthy that despite the criticism of the new class of assets, Warren Buffett sees nothing wrong in buying cryptocurrency, because, in his words, it resembles gambling:
"You don't invest when you do this. You're speculating. There's nothing wrong with that. If you want to play casino games, somebody else will come tomorrow and pay more money. This such a game. This is not investing»
We will remind, earlier the CEO of crypto currency exchange Binance Chanpen Zhao said that although Buffett and is an internationally recognized expert in cryptocurrencies, he knows nothing about.
I can definitely see why Warren Buffett takes this stance. Bitcoin is not a company or an engine and as such does not "produce" anything. However, if you take two steps back, I would argue that people who buy (the right) crypto are actually investing. They are investing in a new world with different characteristics. Steemit instead of Facebook. Bitcoin instead of Lehman Brothers. We are investing in transparency, censorship-resistance, accountability.
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