Billionaire investor Warren Buffett says no to Bitcoin. Here's why
09 May, 2018, 00:47 | Author: Natasha Holloway
"I agree I would short if there was an easy way to do it". Buffett said investors would instead be much better off investing in USA stocks, which in turn are also a far better investment than 10- or 30-year U.S. government bonds. Gates further said that "as an asset class, you're not producing anything and so you shouldn't expect it to go up".
By design, Bitcoin price and other cryptocurrencies like it are very hard to anticipate in terms of value.
The recent price movements of BTC/USD give a good indication that Bitcoin could be staying above $9,000 for a while. The investors that manage to cash in on such a type of investment are the ones who end up cashing out on time.
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And Buffett described it as a mistake that he never thought Alphabet Inc's Google and Amazon.com Inc made sense as investments for Berkshire. So Buffett says anyone buying bitcoin is betting that someone else will pay more for it later.
Though Bitcoin has been around for almost a decade, the cryptocurrency didn't really become a true mainstream phenomenon until late 2017 when the price of Bitcoin shot up from about $5,800 to almost $20,000 in the span of just four weeks.
"Cryptocurrencies will come to bad endings."
The Microsoft founder considers digital currencies to be too risky for long-term commitments for private investors as well as for institutional ones.
While it looks like Bill Gates is exclusively anti-cryptocurrency here, he did acknowledge the fact that the blockchain technology behind digital currencies has some value. The continued expectation of regulation is also believed to have prevented bitcoin crossing the US$10,000 mark.
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The benefits of free trade are huge, and the world is dependent on it in a major way for its progress, Buffett said. The figure make the holding company Apple's third-largest shareholder, behind Vanguard Group and BlackRock.
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Giuliani says he doesn't know when Trump knew of the payment. "No, I would like him to stop lying, quite frankly", Tapper said. Trump later added: "He'll get his facts straight". "That's not a decision to be made now, there's no reason to be made now".
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