The worlds greatest investor doesn't believe in bitcoin. What do you say?
What do
you say? I would like to get your opinion on this.
I think people put too much weight on the opinion of other investors (no matter how successful they've been). Nobody can take away from the investment achievements Buffet has made over his lifetime, and I'd still consider him one of the greatest entrepreneurs of all time, but that doesn't mean he's right about everything. I'm sure Buffet has missed out on many opportunities as do all other investors. I'm sure he's lost millions on certain ventures and I can tell you he's obviously lost tens of millions by not investing in bitcoin as well. I'm not even going to claim that his opinion is wrong here because only time will tell on that front, but I think his thinking is a little outdated on this and he's a bit of a dinosaur these days when it comes to investing (the guy doesn't even own a mobile phone so I'm not sure how he could wrap his head around the potential of the bitcoin and blockchain technology). Could bitcoin be a giant bubble? Of course it could. Will it? I don't know... I really hope not, but even if it was he still could have made millions if not billions on it in the meantime. Just look at the Winklevii twins and how much money they made by having the balls and intelligence to buy into what they see as both a revolutionary idea and the huge potential it has as an investment... and they weren't wrong. They're now billionaires all from an 11 or so million dollar investment I believe. So what do I say to Buffet? Only time will tell but I'm sticking with bitcoin at least for the time being and he can stick to buying stocks in whatever companies he does but there's not really much difference between the two and even if bitcoin does turn out to be a bubble that doesn't mean you could have profited in the millions from it in the process.