Warren Buffett hates Bitcoin. Should we listen to him? // cryptocurrency cryptocurrencies bubble


Warren Buffett hates Bitcoin. Should we listen to him? // cryptocurrency cryptocurrencies bubble cnbc investment david moadel welcome to looking at the markets with
David Modell Warren Buffett hates Bitcoin he hates it and it’s tough for
me because I like Warren Buffett and I also like Bitcoin and I feel like I’m
being forced to choose a side here well let’s take a look first of all let’s
look at Warren Buffett and the things that he said Buffett bitcoin is more
gamble than investment hmm all right well let’s look at some Warren Buffett
quotes and you can decide for yourself in terms of crypto currencies generally
I can say almost with certainty that they will come to a bad ending hmm well
only time will tell whether he’s right on that or not the ending I suppose if
Bitcoin went to zero that would be an ending but you know I haven’t seen that
happen so far yes Bitcoin has gone down in price from when it hit the all-time
high at nearly $20,000 per Bitcoin but it’s not the ending though it’s not at
zero not even close so only time will tell whether he’s right on that one we
don’t own any we’re not short any will never have a position in them well
that’s kind of interesting I mean if Warren Buffett really thought
that Bitcoin would come to a bad ending why not short it what wouldn’t you get
rich I mean he’s already rich but wouldn’t you make money shorting Bitcoin
if you really thought it was going to come to a bad ending sounds to me like
he’s just staying out of it which he has a right to do you aren’t investing when
you buy cryptocurrency you’re speculating well that’s his opinion I
believe it’s possible to take a reasonable position size in Bitcoin or
other crypto currencies and hold on to them for the long term I believe that’s
investing if he wants to call it speculating hey that’s his opinion he’s
entitled to it I get into enough trouble with the things I know something about
why in the world should I take a long or short position in something I
don’t know about Warren Buffett is admitting right there with that quote
that he doesn’t understand Bitcoin he doesn’t understand crypto currencies
so does that mean that nobody should invest in Bitcoin or crypto currencies
you see just because Warren Buffett doesn’t understand crypto currencies
doesn’t mean for example that Charlie Lee the founder of litecoin doesn’t
understand crypto currencies okay that doesn’t mean that you are I listening to
this watching this right now doesn’t mean that we don’t understand crypto
currencies okay Warren Buffett is speaking for himself that doesn’t mean
that he speaks for everybody and so if you believe in Bitcoin and if you
understand it or other crypto currencies if you believe in it you understand it
you’ve researched it thoroughly then you’re in a better position to invest in
it than warren buffett because he just admitted he doesn’t understand it in
2014 on CNBC Warren Buffett called Bitcoin a mirage it was trading at
around $600 at that time even after the recent price pull back Bitcoin is worth
a lot more than $600 so Warren Buffett has been wrong so far now he could be
right in the end I suppose if someday Bitcoin went to zero then he could say I
told you so but so far it’s worth a lot more than $600 when he made that
statement there about Bitcoin being a mirage so so far the people who bought
in a Bitcoin back then in 2014 they’re doing pretty well you see I
understand that bitcoin is not like let’s say coca-cola Warren Buffett likes
to invest in coca-cola because he understands it it’s been around for a
long time and he understands the product you can go to a store and you can buy a
coca-cola product that’s easy to understand it’s easy to to
rasp blockchain technology that’s not something Warren Buffett grew up with
and it seems to me that he doesn’t fully understand it well that doesn’t mean
that everybody else doesn’t believe it and doesn’t understand it blockchain
technology is already changing lives it’s changing the world I believe it
will continue to do so and so Warren Buffett I still like you I still respect
you and I still am going to follow many of your principles of investing but when
it comes to Bitcoin and other cryptocurrencies I believe in the
technology behind it I believe it does have a product that is
worth investing in and so mr. Buffett I have to disagree with you on this one
all right you’re entitled to have your own opinion and I’m glad to hear your
opinions so if you like this video please give it a thumbs up on YouTube
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questions about cryptocurrencies or stocks options whatever it is you can
email me anytime at David Modell at gmail.com thanks a lot I appreciate it
and I’ll talk to you again soon baby Mises I got my food IFE

12 thoughts on “Warren Buffett hates Bitcoin. Should we listen to him? // cryptocurrency cryptocurrencies bubble”

  1. I think the issue for Buffett is how do you value a bitcoin? Warren likes to buy companies and stock when they are trading or priced under what he thinks is fair market value.

    I have yet to see a compelling argument for what bitcoin's fair value is. Now that doesn't mean no one should put money in it or that it will go down in price, but people should understand that it is hard to know where this will stabilize in the long run.

  2. I don’t believe the hype, he has enough friends to educate him, and it’s been around long enough to know some basics so, I don’t believe the mirage..if I can invest in bitcoin and/or trade daily and then cash out on a crypto debit card and spend it on a can of coke, then that’s a win win for me and the Coca Cola company..Some folks go to work everyday to earn fiat that gets inflated and deflated depending on the economic times to then go potential buy a product. So we all speculate in some way depending on perspective. He is just playing the game..

  3. I predict Bitcoin to dramatically crash lower than 2k in the next 12 months even though I like Bitcoin. Whales are temporarily trying to add more faith into the market when it was ready to tumble. Pure dead cat bounce here.

  4. I also think there's an irrational movement in the speculative investment vechicle aspect of crypto currency compared to the actual potenial of blockchain technology. Thanks for the video

  5. He is outdated crypto currencies are here to stay see the advice of The Economist January 9, 1988 “get ready for a global currency”

  6. To anyone planning to trade/invest in bitcoin, just make sure you check your investment at least once a day technically. Sell signals were given after the top last 2017dec16. The williams %r on 2017dec19, & macd on 2017dec20. If you had sold then, you would have gotten out @ 16,461. Unless you got in at the very top, you would not have lost anything 🙂

  7. "you aren't investing when you buy cryptocurrency. You're speculating" – dumb old buffet.

    By owning a smart contract token I can use it as currency as well as solve real world problems like insurance,copyright,iot,decentralised hosting,online advertising, cloud storage etc. What can you do with owing a few Amazon stocks. Sit on you xx and speculate? can't believe you listen to this stone age dinosaur

  8. AS always well put David, TX.
    Lets be honest Warren is great guy but hes just simply old, He said before he didn't jump on Amazon/ Apple , I'm pretty sure till recently he didn't consider FB as good investment etc.

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