Warren buffet declared bitcoin as useless and strongly believes bitcoin and Cryptos will die in 10 years. He also thinks bitcoin is a terrible investment.
This guy has been right ALL THE TIME and is smarter than the piglets and peasants on this forum
Also confirms my theory that bitcoin has run its course as an investment
Don't underestimate him, Big money will now stay away from bitcoin and I speculate that the price won't return 500% or more
http://www.coindesk.com/warren-buffet-bitcoin-currency/Warren Buffett has an enviable track record as a real economy investor - he has a preference for companies with tangible assets and solid cashflows which make real things for which there is a more or less constant demand.
He is not right ALL THE TIME, just more often than most - and he plays with big numbers.
He has just admitted to losing $879 million on investments in bonds of Energy Future Holdings Corp (which he bought USD 2bn of)
He lost several billion buying stock of ConocoPhillips at almost exactly the wrong time in 2007
and in 1993 he lost $3.5bn buying stock in a company called Dexter Shoes - he is said to regard this as the worst investment decision he ever made.
- He invests in going concerns. Not currencies.
- He does make mistakes (and by implication could be wrong about bitcoin).