It’s still the most valuable cryptocurrency out there, though the dip in value further underscores the volatility of digital coins. Cryptocurrencies have generally performed well over the past few weeks, so it’s possible that the market is just taking a breather. Bitcoin BTC-USD and other cryptocurrencies, for that matter, are therefore only valuable because of investor interest. Most high-profile bitcoin naysayers have been Wall Street types, such as JPMorgan Chase CEO Jamie Dimon and billionaire investors like Buffett and Carl Icahn, all of whom have been generally dismissed by cryptocurrency advocates as old-timers who just don’t get it. Several others dropped in value over the past 24 hours as well, including Ethereum, which is down more than 6 percent, according to CoinMarketCap. If it increases, the bet loses. Follow him on Twitter to keep up with his latest work!
Bill Gates: “It’s kind of a pure ‘greater fool theory’ type of investment”
Disclaimer: The opinion expressed here is not investment advice — it vitcoin provided for informational purposes. It does not necessarily reflect the opinion of U. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose. Want to join their rows?
Warren Buffett and Charlie Munger aren’t cryptocurrency fans
There is no shortage of believers in Bitcoin and its underlying blockchain technology, but when it comes to investing in the cryptocurrency, billionaires Warren Buffett and Bill Gates both think it’s a bad idea. Crazy, even. Gates told CNBC that Bitcoin is «one of the crazier, speculative things» he’s seen, and that he would «short it if there was an easy way to do it. Buffett also spoke negatively of Bitcoin, telling CNBC it’s «probably rat poison squared» while presiding at the Bershire Hathaway annual shareholder meeting on Saturday. Charlie Munger, Berkshire’s vice chairman, echoed those comments saying that trading in cryptocurrencies is «just dementia,» likening it to somebody else «trading turds and you decide you can’t be left out,» CNN reports. He also predicted that things will come crashing down in the digital coin world.
Well, at least as a low-cost payments solution. The billionaire alluded in an oblique, somewhat rambling fashion to some of the more nefarious anonymous uses associated with Bitcoin. To see the portion of the interview in which Gates directly addresses Bitcoin, watch the video below:. Instead of answering Bitcoin-related queries gqtes on, Gates shifted the focus to the Bill investev Melinda Gates Foundation-backed Vodaphone M-pesaa mobile phone-based money transfer and microfinancing service in Kenya.
Only time will tell. We wonder what fellow billionaire Mark Cuban thinks of Bitcoin. Reddit, Y’all. Podcasts Books Entrepreneur Insurance. Next Article — shares Add to Queue. Kim Lachance Shandrow. October 3, 3 min read. More from Entrepreneur. Get heaping discounts to books you love delivered straight bil, your inbox. Sign Up Now. Jumpstart Your Business. Entrepreneur Insider is is bill gates invested in bitcoin all-access pass to the skills, experts, and network you need to get your business off the ground—or take vill to the next level.
Join Now. Is bill gates invested in bitcoin Financial works to make financing easy for current and aspiring small business owners by providing custom funding solutions, financing education, and. Learn More. Ultimate Guide to Google Adwords. Ultimate Guide to Optimizing Your Gaets. Ultimate Guide to Link Building.
Million Dollar Web Presence. Latest on Entrepreneur. Entrepreneur members get access to exclusive offers, events and. Login with Facebook Login with Google.
Don’t have an account? Sign Up. First Name. Last Name. Confirm Email. Confirm Password. Yes, I want to receive the Entrepreneur newsletter. Bitcoin Bitcoin: The Swindle of the Century.
Warren Buffett: Bitcoin Is An Asset That Creates Nothing — CNBC
More from Entrepreneur
Buffett’s main problem with cryptocurrencies is that they aren’t productive assets. He also predicted that things will come crashing down in the im coin world. Bitcoin BTC-USD and other cryptocurrencies, for that matter, are therefore only valuable because of investor. Follow him on Twitter to keep up with his latest work! If the asset declines in valuation, the investor’s bet pays off. Berkshire Hathaway CEO Warren Buffett has been critical of bitcoin and other cryptocurrencies several times in recent months. After all, the two men aren’t is bill gates invested in bitcoin known for being tech-savvy, and have missed out on big trends in the past, such as e-commerce. More: J. Please deactivate your ad blocker in order to see our subscription offer. The technology titan, philanthropist and world’s second-richest person declined to reveal insight into a «fantasy» investment portfolio that he runs for fun to gauge his ability to beat the market. A tech gattes like Gates could be another matter.
Comments
Post a Comment