Berkshire Hathaway's vice chairman also dismissed bitcoin as an investment, saying: "Bitcoin reminds me of what Oscar Wilde said about fox hunting.
Bitcoin Price Inches Closer to $30,000 after Proving Warren Buffett Wrong
He said it was the pursuit of the uneatable by the unspeakable. I don't know which is worse. His comments come as the markets digest Warren Buffett's annual letter to Berkshire Hathaway shareholders, which was released on Saturday. In the letter, Buffett said not to bet against America: "Despite some severe interruptions, our country's economic progress has been breathtaking.
Our unwavering conclusion: Never bet against America.
The year-old billionaire also commented on bonds, saying that low interest rates hurt their appeal. Some social media users described this year's letter as "tone-deaf," pointing out that not enough attention was given to the pandemic, and no mention was given to more controversial social issues plaguing the country today. Buffett's annual letter is so tone deaf, can't believe a year old white guy is not using his investor letter to champion today's most controversial social issues smh.
After Buffett's indifferent Annual Letter which didn't address the pandemic, climate change, and social justice, I really can't wait for chamath 's Annual Letter that will address the current uncertainties, because I sort of loved Warren Buffett's letter today. I know some will be disappointed it didn't discuss Bitcoin, WallStreetBets, Robinhood, politics, etc. Berkshire's letter felt almost therapeutic.
Here are Buffett's 16 best quotes about Bitcoin and crypto, edited and condensed for clarity:
Maybe I'm just a fanboy, but I will always gladly accept that tag when it comes to Buffett and Munger. For Kitco News. Interactive Chart. Make Kitco Your Homepage.
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Desktop Windows Taskbar. Additionally, leading investment management firms entered the cryptocurrency market to take advantage of the growing demand for digital assets. Does buffet not understand that scarcity in itself has a value.
Take on the other hand a company it can be successful for some time, but sooner or later the management will take wrong decisions and the company loses its competitieve advantage and destroys its value. In any company valuation analysts try to predict the value of the first years and then make an assumption on the terminal value. However the component … Read more ».
Bitcoin Price Inches Closer to $30, after Proving Warren Buffett Wrong | Finance Magnates
I have respect for Warren Buffett and is ok if is not believing in a nonproductive asset like Bitcoin. Wake up Chesatochi, pull your head out of the sand…Bitcoin is now more valuable than Berkshire Hathaway Stock!!! That means shareholders will begin dumping Berkshire Hathaway and purchasing Bitcoin!!! Very soon BTC will reach K in value.