Warren Buffett, the world’s most successful investor, has never been a fan of Bitcoin and other cryptocurrencies. In fact, he has been quite vocal about his disdain for the asset class.
In an interview with CNBC in 2018, Buffett said that he would never invest in Bitcoin because it “defies logic”.
“I can say almost with certainty that cryptocurrencies will come to a bad end,” Buffett told CNBC.
Despite his negative views on Bitcoin, it is estimated that Warren Buffett owns around $100 million worth of the asset. This is because his company, Berkshire Hathaway, invested in a subsidiary of Google called GBTC, which allows investors to bet on the price of Bitcoin without actually owning the asset.
NOTE: WARNING: There is no definitive answer to the question “How much Bitcoin does Warren Buffett own?” as his investments are not public knowledge. Any claims made about Buffett’s Bitcoin holdings should be considered false unless they are backed up with reliable sources. Investing in cryptocurrencies such as Bitcoin can be highly speculative and carries a high degree of risk.
While $100 million may seem like a lot of money, it is actually a very small percentage of Warren Buffett’s overall net worth, which is estimated to be around $84 billion.
So why would someone as successful as Warren Buffett invest in something that he so clearly doesn’t believe in? The answer is simple: Berkshire Hathaway is an investment company and their job is to make money for their shareholders. And right now, Bitcoin is one of the hottest investments on the planet.
It is important to remember that just because Warren Buffett doesn’t like something, doesn’t mean it isn’t a good investment. In the past, he has been vocal about his dislike for companies like Amazon and Apple, but that hasn’t stopped him from making billions of dollars by investing in them.
So while Warren Buffett may not be a fan of Bitcoin, there’s no denying that he knows a good investment when he sees one.
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Warren Buffett, the world’s most successful investor, has repeatedly said that he does not own any Bitcoin and never will. In an interview with CNBC in 2018, he said that Bitcoin “doesn’t produce anything” and that it is “a delusion”. He has also compared it to gold, saying that both are “used by some people for hedging purposes”.
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Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto in 2009.
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Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Bitcoin stock is down today by -2.17% to $9,435.40 USD on the news that Chinese regulators are cracking down on cryptocurrency exchanges. This follows last week’s ban on ICOs and is seen as a further effort to control the booming cryptocurrency market in China. The price of Bitcoin has been volatile over the past week, but is still up over 13% in the last month.
