The question arises and he answers. It is well known that the legendary investor, Warren Buffett, is not a fan of Bitcoin. Many are upset. Many ignore it. Who listens to it?
In relation to Warren Buffett, nobody could say that he lacks experience. Ninety-one years are several springs. If you bought your first stock at the age of eleven, this means you’ve been in the business for 80 years. Not everyone can boast of a career like his.
The “Oracle of Omaha” is a living legend. He is one of the most successful investors in history. In addition, it is an example of perseverance, dedication, and prudence. It could be said that he has the reputation of a sage. He is not a Steve Jobs or an Elon Musk. Buffett generates a different kind of vibe. He is not a futuristic genius. He’s also not a shark like Gordon Gekko. Warren Buffett fits more into the image of the good-natured grandfather who recommends good sense and measure. Warren Buffett is not a fan of Bitcoin.
It’s a Mistake to Reject Buffett Because of His Age
It is natural for younger people to be tempted to look down on older generations. The new always wants to replace the old. The new values always want to abolish the old values. It is customary for the “arrogant” young man to come into conflict with the “obtuse” old man. Ultimately, it is the eternal struggle between innovation and tradition, that is, the need to change and the need to conserve.
It’s a Mistake to Reject Buffett for Being Rich and Powerful
The “revolutionaries” always assume that the rich and powerful only want to defend the status quo so as not to lose their privileges. That is not always true. Success is not always blinding. In many cases, it is liberating. Why? Because it can allow us to see beyond resentment, hunger, and need.
It is a Mistake to Reject Buffett for Having a Different Opinion than Ours
The opinion of others must be listened to with great interest. The goal of a debate is not to win the contest. It is not a battle between adversaries. The goal is to find the truth. And the most enriching thing in the world is to change your mind. Dogmas, pre-established truths, and prejudices are the pillars of the closed mind. The worst thing we can do is listen to an argument biased and defensive, with our heads already made up from the start.
What Buffett Says about Bitcoin
At the last annual meeting of shareholders of Berkshire Hathaway, on May 1, Warren Buffett made this reflection:
“If the people in this room own all the farmland in America and you offer me a 1% stake and say, ‘pay us a bargain price of $25 billion,’ I’ll write you a check this afternoon.”
“If you tell me you own 1% of the apartment buildings in the United States, and you offer me a 1% stake for another $25 billion, for example, I’ll write you another check. It is very simple”.
“Now, if you told me you had all the Bitcoin in the world and offered it to me for just $25, I wouldn’t take it. What would you do with it?
Warren Buffett does not invest in non-performing assets. That does not imply that doing so is “wrong”. In fact, his arguments are quite sensible. However, that does not imply that someone cannot put their money in non-performing/speculative assets. Obviously, they are more difficult assets to value objectively than in the case of a company. In addition, it is very difficult to accurately predict future demand. It also involves taking a fairly high risk. In this case, the dumbest theory applies. Pragmatism beats theory. The secret is to be the least of fools.
By Audy Castaneda
