These types of articles completely undermine the legend that is Warren Buffett.
Many idiots hop on these type of headline bandwagons when they themselves don't completely understand cryptos and just blindly agree with headline because it sounds "cool". Really, you think Warren Buffett doesn't understand cryptos..... He is a living, breathing legend when it comes to any sort of investment. He simply has an opposing view to cryptos, that doesn't mean he doesn't understand them.
Warren Buffett has lived through some of the most turbulent economic times, the most challenging and defining times of the stability of our financial system. He not only understand investing, he is investing.
Warren Buffett understands investment utility and knows that the intended use behind many of the newly created cryptocurrencies is just dust and smoke and many tech providers and people are jumping on due to a fear. A fear of missing out. They don't want to get left behind and become obsolete.
Um, in Germany the main news program (Tagesschau) posted an article in which is said, that Buffet himself says, that he doesn't really understand cryptocurrencies, but nevertheless thinks, one should not invest in them. Just saying.
Quote: "Buffett räumte jedoch auch offen ein, sich mit Bitcoin und Co. nicht sonderlich gut auszukennen. "Doch ich denke, was derzeit abläuft, wird definitiv böse enden.""
Free translation: "Buffet admitted, that he doesn't know much about Bitcoin & Co. "But I think what's happening right now will end badly.""
(https://www.tagesschau.de/wirtschaft/buffet-kryptowaehrungen-101.html)
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Fiduciary regulations prevent licensed professional to promote or really even speak of non-registered commodities. Regulations has created Warren's ignorance on Cryptocurrency. Why would he pay attention to it when he is not allowed to even talk about it?....Which is why the world needs cryptocurrency.
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Buffet is a trading god, but he only incest in what he knows. Cryptos is not one of his core competencies and nor does it look like it ever will be. However, this does not mean you should not invest. Do the research and make up your own mind.
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