Bitcoin Surges 25% In One Week. Warren Buffett Still Won't Buy It

DEAD7

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Bitcoin Surges 25% In One Week. Warren Buffett Still Won't Buy It


Buffett has called Bitcoin, among other names, "rat poison squared" and has said he won't ever buy the cryptocurrency. "I don't have any cryptocurrency and I never will," Buffett told CNBC in February, when Bitcoin was trading at about $10,000. Here are 3 reasons why Buffett will never own Bitcoin, no matter how high the price of Bitcoin soars:

Buffett believes that Bitcoin has no underlying value. As a value investor, Buffett invests in companies that are undervalued, produce stable and recurring cash flow and have the ability to increase in book value. To Buffett, Bitcoin doesn't produce earnings or dividends. Rather, the value of Bitcoin is simply what one person is willing to pay for it. In this regard, Bitcoin is no different than the tulip craze of 1637. Therefore, Buffett believes that Bitcoin has no inherent value...

While all investing involves some degree of speculation, Buffett's background is in insurance and risk mitigation. Buffett doesn't invest in "high fliers" — that's not his game. His game is "buy and hold" — forever. He invests in companies that grow over time, steadily and consistently.
 
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The Fukin Prophecy said:
He's 100% right, its exactly why I don't fukk with these coins...

You're literally investing in pixie dust...
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It sounds like a pyramid scheme.

The dudes who originally got in will always have the most value.

I don’t really get the point BTC in particular. The concept of cryptocurrency is fine in an increasingly digital future
 
Vandelay

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The value in Bitcoin is that people think it has value.

The same could be said for the dollar, but the dollar at least has history and a military backing it's value, can't say the same for BC.

That said, owning a little bit and/or flipping it if you have a few dollars or have dealings in the black market is smart.
 
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Jahbarri said:
Tell me something you could have invested 10k 7 years ago to 2.8M today . I’ll wait :troll:
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As the OP explains, Buffett's goal isn't to randomly guess fads and hot streaks. Past performance tells you nothing about future value. If a significant # of Bitcoin enthusiasts really believed that Bitcoin was destined for the same future performance, then they would have already pushed its price that high going as far as possible into debt buying more bitcoins.
 
tjax03

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The Fukin Prophecy said:
He's 100% right, its exactly why I don't fukk with these coins...

You're literally investing in pixie dust...
Click to expand...


Buffett old. Get off my lawn guy.

This is the future. The new gold.

Bitcoin doesnt get affected by the market or pandemics or stock crashes. Its worldwide and isnt regulated by the United States and Wall Street crookedness.



I bought 1 bitcoin in 2012 for $295. Man I WISH i held onto that this day.
 
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