Warren Buffett: Buying Bitcoin Is Not Investing
87 year old American investor and CEO Berkshire Hathaway Warren Buffett once again questioned the advisability of investing funds in cryptocurrencies, stating that “buying bitcoin is not investing,” in an interview with Yahoo Finance.
“There are two types of things, which people buy, thinking they are investing, ”he said. “One is really investing, the other is not. If you buy something like a farm, apartment building or share in business, you can you do it individually, and it is completely corresponds definition of investment. You see the investment itself as a source of income. On the other hand, if you buy something like bitcoin or some kind of cryptocurrency, you don’t get anything that could produce anything. You just hope, that the next person will pay more “.
The legendary investor has repeatedly spoken out about cryptocurrencies in a negative way, in Tom number stated, that “almost certainly they are end badly “, at the beginning of this of the year. Then the same Buffett admitted, what cryptocurrencies are “what-then something about which he has nothing known“.
He also mentioned several times about absence intrinsic value of cryptocurrencies, for the first time declaring this in a conversation with CNBC in 2014, along the way naming bitcoin “Mirage”. Buffett, like several other experts, sees Bitcoin as a bubble, and last October he reported, that cryptocurrency is not succumbs evaluation because it “not is an generating value asset“.