When talking about Bitcoin, "stock God" Buffett began to Tucao this most people like "demon coin." He said: “Unlike buying stocks, bonds, or real estate, buying Bitcoin is not an investment behavior at all.” When he heard his remarks, many people could not help asking why the famous Buffett hated Bitcoin so much. Buffett explained this: "Because this digital currency lacks intrinsic value."
Buffett asserts that the essence of Bitcoin is speculation
In an interview with a Yahoo Finance reporter, Buffett said: Bitcoin is just a speculative act. You are just betting on whether tomorrow someone will be willing to spend more money to buy Bitcoin on your hands. This is a gambling behavior, not an investment behavior. ”
Berkshire Hathaway (298770, -2860.00, -0.95%), known for its "buy and hold" investment strategy, was founded by Warren Buffett, and its $82.8 billion in assets supported the company.
In his letter to shareholders in 1996, Buffett wrote: "Combining the total returns of companies that have risen in the past few years, it also gives the market value of the portfolio. If you do not want to hold a stock For 10 years, it wouldn't even have it for 10 minutes.” Buffett said that as an investment, what you buy must have its own value.
Here are some popular examples: If you are interested in buying a farm, an apartment, or a business, before you invest, find out how much you know about what you want to invest to invest in money. For example, what the farm produces, how much money it invests in itself, how much money it makes, and so on. After making careful thoughts and investing again, a very satisfactory investment will be made.
Buffett said: It is a wise choice to make investments before thinking about investing. However, he believes that such things as Bitcoin can only be added to it through sales. Its value comes from the price people are willing to pay for it. FX678 reported that Buffett said no one knew what Bitcoin was. One day people will be surprised to buy Bitcoin and ask in their hearts: "My God, what's wrong with me? Why do you want to buy this kind of demon coin?"
Buffett, the "Omaha Prophet," held this view at least since 2014, when he said in an interview with a CNBC reporter that Bitcoin could never have a huge intrinsic value. If it had any intrinsic value, then the sun came out west.
In 2017, Bitcoin rose and its price soared from less than 1,000 US dollars at the beginning of the year to more than 19,000 US dollars in December 2018. The high-profile performance of Bitcoin at that time caused success at JP Morgan (113.86, -0.43, -0.38). %) Jamie Dimon's concern. The latter also accused Bitcoin of being a "totally thorough" bubble, and threatened to expel employees who trade in Bitcoin under their hands.
The bad image of Bitcoin in Buffett’s eyes has been fixed
No matter how the outside world will blow up the bitcoin, Buffett always believes that the digital currency outlook is bleak. Encrypted currency enthusiasts believe that Buffett is biased against Bitcoin and would not say so if he does not understand this blockchain-based virtual currency. Buffett also acknowledged this. Buffett said in an interview with Yahoo Finance: Hype Bitcoin is a kind of gambling behavior from beginning to end. If you are not afraid of the loss of real money, go for adventure. In fact, this is just kidding with your hard-earned money.
