Warren Buffett Not a Bitcoin Fan

Sep 8, 2017
J. Webster
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Sometimes you miss a few investment trends, but in the long run you don’t lose a bunch of money…Warren Buffett says to pass on buying the bitcoin phenomenon, it’s not an investment he would make. Buffett said back in 2014 that bitcoin was a mirage and didn’t offer anything intrinsically valuable that say a simple “check” could offer, as far as payments go. Buffett of course has missed out on buying some technology stock early on, said he just didn’t understand them enough, and he’s still had a bit of success as an investor.

Bitcoin has been going crazy since then, up 7 times what it was then. If you missed the run though, do you jump in now? There are so many other investments to make, aren’t there…I think it’s probably wise to listen to the richest man in the world. It’s tough though, when something like bitcoin is in the news everyday, going up and up, it’s hard not to one to join the party.

Furthermore, Buffett said he wouldn’t be surprised if bitcoin isn’t around in 10 or 20 years. He said it didn’t meet the test of a currency, since it fluctuates in price so much. Buffett talking about bitcoin starts at about the 30 second market in the video below.

The thing about something like Bitcoin, which is perhaps on the verge of being a bubble that pops, is that it can very quickly go down 7 times the value of what it’s worth. So while Buffett might be wrong in the short term, long term he could be right.

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