I used to be a big fan of Warren Buffett and it’s kind of hard for me to dislike the man considering I spent 20 years of my life in the financial industry. He is regarded by many as the greatest investor of all time and for the most part he seems like a pretty decent guy. But I am gonna say one thing right now. . . His old ass doesnt’t know shit in regards to cryptocurrency and quite frankly his old wrinkly ass doesn’t know anything about technology in general.
Billionaire investor and Berkshire Hathaway’s Chairman and CEO Warren Buffet reiterated his negative stance towards cryptocurrencies at the annual meeting of his company Saturday, May 5. Buffet repeated his idea that cryptocurrencies will come to a “bad ending,” and claimed that Bitcoin (BTC) is "probably rat poison squared," according to CNBC.
The billionaire investor claimed that cryptocurrency community is in for a “bad ending” after the “euphoria wears off.
Buffet’s little bitch boy, Charlie Munger is just as clueless. . .
Berkshire Hathaway’s Vice Chairman Charlie Munger echoed Buffet’s criticism of cryptocurrency investment, albeit in much harsher terms:
"Someone else is trading turds and you decide I can't be left out."
It sucks that I have to bash Warren like this, but you would think he would be a little more open minded considering crypto currency has been around long enough to be considered a new asset class.
Apparently Goldman Sachs doesn’t share the same opinion as Grandpa. . .
Some institutional players on the other hand, are much more enthusiastic about Bitcoin. For example, the banking giant Goldman Sachs has launched a Bitcoin trading operation earlier this week, commenting that Bitcoin “is not a fraud.”
Goldman Sachs is not the only one entering the crypto world. I know this for a fact, as I still communicate with many former colleagues at large hedge funds and investment banks as well.
Crypto is the real deal folks. .
Ignore the old man.