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Yes, Warren Buffett is one of the greatest to do so anytime. But he is clearly a blind place for bitcoin.
It is seven years ago that Buffett called bitcoin as a “poison square” in front of CNBC reporter Becky.
Buffett, which is bus at 94 Confirmed He has been moving aside as the CEO of Berkshire Hathaway at the end of the year, actually census of bitcoin since May 2013. In Berkshire’s annual shareholder meeting, a viewer member Asked Buffett and Munger how he saw the growing importance of bitcoin.
“Charlie, I hope you know something about the subject, because I don’t know one thing,” Buffett said. By that point in 2013, the price of bitcoin in the last six months was from $ 11 to about $ $ 150.
Munger was blunt. “I have no confidence that bitcoin has any kind of universal currency.”
“This would definitely be my intestine response,” Buffett replied. “But I have not really noticed it. I will put it in this way, in our $ 49 billion, we have not moved anyone in bitcoin.” Q laughter of the audience.
“Well, the truth is that I really know nothing about it. It doesn’t always stop me from talking about things, but it will happen in this case.”
There was never improvement from there. Buffett said a year later, “This is not a currency, it does not complete a currency testing, if it is not in 10 or 20 years, I would not be surprised.”
He said, “Stay away from it. It is a mritrishna, basically … the idea that it has some big internal value, I think just a joke,” he added a few days to it.
Already many thoughtful Criticism Buffett and Munger’s opinion on bitcoin out of there. And their investment philosophy – not investing in anything he does not understand – has worked clearly.
Buffett said in 2018, “We have to focus only on eight or 10 shares, basically business, which we think are civilized businesses.” Meanwhile, the price of bitcoin is multiplied about 13 times in the same period, although the comparison of both directly makes very little understanding.
Does it make Buffett wrong? Certainly, the way Amazon was purchased instead of Google 10 years ago is wrong. Both Berkshire and Bitcoin have clearly won: 5.5 million percent returns since 1964 for the East, later about 137 million percent since 2010.
Even if Berkshire bought how much cash-up-bittcine-it has still missed for a long time.
Buffett allocated Bitcoin only 2% of Berkshire’s $ 57.9 billion in May 2018, instead to call it a rat poison square, the firm may be bought up to about 137,000 BTC, possibly for $ 8,500 per coin.
Today the same dhona will cost more than $ 13.1 billion, increasing the current cash holdings of Berkshire by about 30%.
The one who does not kill you is to make you strong. And what you don’t know cannot hurt you. But as it is revealed, it Be able to do You make poor, relatively. Even if you are very, very rich.
, David
You know the saying: A man’s rat poison is another man’s treasure …
If you need more evidence of the errors of the world vision of Buffett, then the story of Hifimiki, a bitcointock user who knows for all we all know that this 100 BTC is still holding the gold bar, which he posted for sale, exactly 12 years ago.
Today, deformation evidence lives on social media as a talisman since a first bitcoin time, one when you can be someone like Hifimake, an initial stage user who bought this heir (with two 25 BTC gold coins) and Then tried to sell it to buy a new car,
Did Hifi sell? We do not really know. Everyone told, about 214 of these $ 10 million bitcoin bar To hang aboutAlthough only 37 are “active” and yet to be redeemed to their BTC. (This is the place where you run into the entire hard-looking part of bitcoin.)
Although we can never know, it is another reminder to HODL to your BTC. In another 10 years, who knows how expensive this bar will be (and how much wrong buffett will be).
, Reeso
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