Buffett on cryptocurrencies: 'I can say almost with certainty that they will come to a bad ending'
https://www.cnbc.com/video/2018/01/10/warren-buffett-thinks-cryptocurrencies-will-end-badly.html
@CNBC
Buffet is a smart man.
Admits he doesn't understand cryptocurrencies.
Note that he doesn't say definitely bet against or short Cryptos in short run and admits that he doesn't understand it... Cryptocurrencies are in their infancy stage and anyone who is investing in Cryptos is an early adopter of a distruptive technology and a new currency.
Common sense will tell you that we've had massive gains so could be in a bubble. But we could also be in a massive stock bubble where Cryptocurrencies could become a great hedge against that stock bubble.
So follow the market hold tight for 6 months or even year. Buffet uses the 5 year period because there is somuch upward momentum. Notice he doesn't dismiss crypto and say it's crashing in a month or even 1- 2 years. He says 5 years (which is a huge amount of time to make your gains and diversify into many winners or simply get in for a year or two before the 'herd' does)
Cryptocurrencies' marketcap can go up x10-x100 before there is a crash for all anyone knows. In fact it COULD go up 1,000 times before it is in a real bubble. No one knows.
This or ....he's just an old man and hater who is mad he Missed out! (just kidding I only have respect for Warren B. for stock investing )
Lesson:
Follow the trend closely, remain diversified, make your money and take out your profits.
This is not financial advice I'm just a dude ;-)
Warren Buffet, Commercial Real Estate, Cryptocurrencies:
Flip That Coin - Tales from the Crypto !