Warren Buffett's famous quote "Bitcoin is Rat Poison Squared" gives a brief summary of what Buffett thinks of the Cryptocurrency. Let's take a deeper look why he thinks this way about bitcoin. Timestamps
0:00 Intro
0:38 Warren Buffett's portfolio
1:10 Buffett's view on Bitcoin
3:19 1st reason Buffett is against crypto
4:09 2nd reason
4:38 3rd reason
5:18 Other billionaires on Bitcoin
6:02 Mark Cuban on Bitcoin
6:45 Bill Gates on Bitcoin
7:03 Michael Bloomberg on Bitcoin
7:38 The Future of Bitcoin
8:20 Should you invest in Bitcoin?
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Bitcoin is a cryptocurrency that was the first to successfully record transactions on a secure, decentralized blockchain-based network. It was launched in early 2009 by its creator Satoshi Nakamoto. Currently, Bitcoin is the largest cryptocurrency measured by market capitalization and the amount of data stored on its blockchain.
While Bitcoin has been continuously growing and attracting more investors, billionaires like Warren Buffett have never liked the whole idea of Bitcoin and cryptocurrency in general. Buffett does not consider cryptocurrency as a currency, citing it does not meet the test of a currency. He does not see cryptocurrency as a durable means of exchange since it doesn’t store value.
Since its launch in 2010, Buffet has never been a fan of Bitcoin. He was more direct in 2018 when he referred to the digital coin as “rat poisoned square” and declared that he would never buy the cryptocurrency. True to his word, Buffet has never owned any Bitcoin and always gives the cryptocurrencies as donations whenever gifted with them.
Warren Buffet is not alone on this. Berkshire vice chairman Charlie Munger and the whole Berkshire fraternity agree with Buffett.
Warren Buffett doesn’t like cryptocurrencies for the following reasons:
- He doesn’t invest in unproductive assets. He doesn’t see any value in cryptocurrencies.
- Buffett only invests in things he understands.
- Buffett considers cryptocurrencies more of a speculation than an investment.
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Warren Buffett on Bitcoin: Bitcoin is Rat Poison Squared
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DISCLAIMER: It's important to note that Road To Wealth is not a financial advisings channel and you should do your own research when picking stocks to invest in, we are not liable for your decisions and/or actions. This video was made for educational and entertainment purposes only. Be wise about investing and contact a financial adviser if you want to get professional help.
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