Warren Buffet, one of the richest person in the world says bitcoin is a gamble. Warren Buffett has never shown himself to be a fan of Bitcoin and other cryptocurrencies.
Warren Buffet says in an interview that he is nowhere willing to invest in Bitcoin, he doesn’t seem Bitcoin investment as useful. He continued to explain that there isn’t anything wrong with that, but that it’s important not to treat Bitcoin and other cryptocurrencies as anything more than a game. You can’t expect it to behave like an investment, because it isn’t an investment.
“If you buy something like a farm, an apartment house, or an interest in a business… You can do that on a private basis… And it’s a perfectly satisfactory investment. You look at the investment itself to deliver the return to you. Now, if you buy something like bitcoin or some cryptocurrency, you don’t really have anything that has produced anything. You’re just hoping the next guy pays more.”
You aren’t investing when you do that. You’re speculating. There’s nothing wrong with it. If you wanna gamble somebody else will come along and pay more money tomorrow, that’s one kind of game. That is not investing.”
Those who don’t know more about Warren Buffet. Let me tell you that Warren Buffet is an American Business baron. He is considered as the most successful investor in the world by so many experts.
Reaction to Warren Buffet Statement
Despite his big statement on Bitcoin and other cryptocurrencies the price of Bitcoin and relevant cryptocurrencies doesn’t affect. Despite Warren Buffet’s lack of interest in Cryptocurrencies, BTC price is still there in the same fluctuation.
Warren Buffett’s argument is undoubtedly based on facts that traders can’t completely ignore. Bitcoin and other trading cryptocurrencies are moving on trader’s sentiments and market reports while their cost of production and the fair value is well below current market prices.
Our View:- In our views, we completely agree with Warren Buffet statement because you can’t trust Cryptocurrencies anymore. You can’t trust on Bitcoin so that you can sleep for 15 years and see how much it becomes now. It may go to boon or it may become a boom. But still, cryptocurrencies are serving nicely to their investors from the past 5 or more years. Now Bitcoin Cash is rising so much.
Disclaimer – Investing in cryptocurrency is subject to market risk. Read all terms and conditions carefully. After investing you and only you will be the culprit for the loss or boss of the profit.