Warren Buffet has a lot to say about Bitcoin and cryptocurrency- but not good things.
At the Berkshire Hathaway annual shareholder meeting, he spoke very negatively about the future of crypto and also admitted that he never saw Google and Amazon coming. So take what he said with a double-edged approach.
Buffet stated that he made “the wrong decisions on Google and Amazon” and that he didn’t “come to a conclusion where I really felt that at the present prices that the prospects were far better than the prices indicated.”
He mentioned how Jeff Bezos and Amazon was a miracle, and that he tends to not bet on miracles.
As for cryptocurrency and its future, he wasn’t shy about bashing it at all. He says that Bitcoin is “probably rat poison squared” with no hesitation. This isn’t anything new. earlier in 2018, he also talked about how Bitcoin is “mirage” yet BNSF Railway, one company part of Berkshire Hathaway has joined the Blockchain in Transport Alliance. The group is made of over 200 companies looking at how to create new standards in logistics using the technology and also repair vehicles and prevent fraud.
Muru Murugappan, BNSF VP of Technology Services and CIO states that they’re “excited to help drive those standards as a member of BiTA” and “Blockchain technology has the potential to change several aspects of the transportation industry and it is important that the industry comes together to align around a set of standards.”
Analytical. Paranoid. OCD. Interested in the world of crypto and how it affects our current world and future. New to investing, not so new to know how crypto works and influence the world of fiat currency. Blockchain is my second wife.
Disclaimer: Our authors may hold active positions in one or multiple cryptocurrencies discussed on this news portal. Opinions expressed at AWSMO are NOT investment advice and any investment in one or more cryptocurrencies may be high-risk and extremely volatile. Please due your due diligence before making any investments in any cryptocurrency. Your investments are your own risk and you assume full responsibility for your actions.