What does Warren Buffet say about Bitcoin?
By Moris
Beracha.-
“Unlike buying stocks, bonds or real estate, buying bitcoin is
not an investment,” Buffett said. The millionaire investor says that the reason
is “because it lacks intrinsic value”.
In an interview with Yahoo Finance he says that “if you buy
something like bitcoin or some cryptocurrency, you don’t have anything that is
producing anything […] You only feel you’ll find the next guy to pay more.”
“You aren’t investing when you do that, you’re speculating,” he said.
To be an investment, what you’re buying has to be worth
something on its own, says Buffett.
Famous for his “buy and hold” investment strategy, the
Berkshire Hathaway CEO built his company, (and his $82.8 billion net worth),
backing companies that have substantial value.
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