As we all know, today’s Bitcoin is no longer a “technical game” in the early years. It has attracted more and more people to participate in it, including technical geeks, financial elites, business tycoons, and ordinary aunts. Even in live broadcasts of U.S. congressional hearings on serious political issues, someone behind the scenes would hold up a sign and enter the screen, saying "buy bitcoin."
According to Beishu Blockchain, Buffett has handed over the Samsung mobile phone containing Bitcoin and Tron currency that Sun Yuchen presented to him during this year's charity lunch to the charity GLIDE Foundation. Buffett said in an interview with CNBC that he does not own any cryptocurrencies and never will.
Later, Justin Sun responded on Twitter: "Buffett only has the Bitcoin and Tron tokens I donated, and the return rate so far is 20%!"
In May 2019, Justin Sun bid $4.57 million (approximately RMB 31.54 million) for the opportunity to have lunch with Buffett. In July of the same year, Sun Yuchen postponed the date of the lunch together due to health problems.
On February 6 this year, Justin Sun tweeted that he had dinner with Buffett on January 23 at a private country club in Omaha, Nebraska.
Buffett quotes on Bitcoin: I rip off a button here, I sell it to you for $1000, see if I can get the price up to $2000 by the end of the day...it doesn't do anything, It's just there, like a seashell or something, it's not an investment to me; the blockchain is... very big, but it doesn't need bitcoin.
So far, at least 90 of the top 100 richest people in the world have publicly expressed their views on Bitcoin. But these people, without exception, "don't like to see" Bitcoin, and it seems that the higher the ranking, the more "unwelcome". Among them, the ones who hate Bitcoin the most are Bill Gates and Warren Buffett, the two people who have occupied the top two Forbes rich list for a long time.
Bill Gates once said, "Bitcoin is pure speculation, whoever buys it is stupid." He even said that he would short Bitcoin if he could. The "stock god" Buffett's attitude towards Bitcoin is "more extreme". As early as when the price of Bitcoin just exceeded $100, Buffett publicly stated that "Bitcoin is rat poison, and we must stay away from Bitcoin." Even if the price of Bitcoin soared to nearly 20,000 US dollars, Mr. Ba never wavered.
But as the world's top investment guru, why is Buffett so "disgusted" with Bitcoin?
At the Berkshire shareholder meeting in 2014, Buffett said that I wouldn't be surprised if Bitcoin didn't succeed in the next 10 or 20 years. It is not a currency and does not conform to the laws of currency. Bitcoin is a speculative "Buck Rogers" phenomenon. All buying and selling behaviors are judged by everyone, just like the tulip bubble back then.
In fact, the attitude of the top richest people in our country towards Bitcoin is not much better. Whether it is Jack Ma who regretted Ali, or Ma Huateng from an ordinary family, they have also publicly stated that they are "not interested in Bitcoin."
These people have different identities, and in the case of "impossible to collude", they continue to "support Bitcoin" on various occasions. Intuitively speaking, a thing that can attract so many people of different levels, different industries, and different identities to "support" should obviously not be a "bad thing". But why, those top rich people "don't wait to see" Bitcoin?
For the top rich, they will not have much interest in betting on things with this attribute, but some sub-rich or sub-sub-rich may join in, because for them, doing Well, turning the tables after an ambush doesn't seem too bad, and betting on both ends is precisely what this kind of people are best at. It should be said that this is actually quite rational, so there is peace on the stage, and no one discusses the matter of flipping the table, but some people secretly bet on it and stir it up.
For most people, insight into and participation in social change is indeed an effective way to achieve class leap. However, if you want to "insight and invest", you need to have a macro vision and micro insight, as well as a variety of professional knowledge reserves.
But as the world's top investment guru, why is Buffett so "disgusted" with Bitcoin?
personal reasons
According to Beishu blockchain, Buffett himself has never participated in gold investment. Buffett's own point of view is that although such assets have certain storage value, they cannot create value by themselves, and are essentially different from companies that can continue to make profits. s difference. In addition, Buffett himself suffered a huge failure in investing in collectibles in his early years, which made Buffett not interested in investment products such as gold and collectibles, and no longer participated. In Buffett's eyes, all assets that cannot generate cash flow and do not generate interest are worthless.
political correctness
As the god of the investment market, the top wealth owner in the United States. Sometimes political correctness is much more important than correct investment decisions. Billionaires like Buffett and Bill Gates, who have been on the list of the richest people in the United States for many years, rarely express a positive attitude towards Bitcoin.
Bitcoin is currently more of a store of value. Since it cannot produce value by itself, it is fundamentally different from a company that can continue to make profits, so it does not conform to Buffett's investment philosophy.
For the financial market, there are various underlying assets with different risk attributes. Investors choose which one is based on their risk preference. There is no right or wrong, only whether it is suitable for their actual situation. So from this perspective, Buffett's negative attitude towards Bitcoin is understandable.
On the contrary, some new middle class in the middle class, innovative investment banks, and financial technology companies are showing more and more positive attitudes towards Bitcoin. There are also more and more financial, technological, Investments, innovators in the media industry have joined the blockchain industry.
Insufficient cognition
Buffett also expressed his incomprehension of technology stocks many times in his early years. , In terms of understanding of new things and new technologies, it is far inferior to many new investors today. Therefore, it is possible to have a one-sided view of the possible impact of Bitcoin and existing blockchain technology.
For him, bitcoin is a high-risk investment. Moreover, the current value of Bitcoin is actually not so high, and there is a certain amount of hype and bubbles. Although any technology awakening is bound to produce bubbles (like the Internet), this is a stage that Bitcoin has to go through in the development process, but For Buffett, the market performance of Bitcoin may not be enough to impress him.
Because the free flow of value between the world itself is a meaningful thing for the whole world, it can improve efficiency, create new business models, and increase the total wealth of society. The use of distributed ledgers within a certain range can improve efficiency and transparency, but cannot create new value. Efficiency and transparency are only meaningful to the government and those in power, so that they can more easily obtain the user's privacy, wealth and money flow, which is why we see that many countries only want to promote blockchain technology, but Express a negative attitude towards Bitcoin.
Generally speaking, Buffett’s views on Bitcoin are mostly based on his investment philosophy, and because Bitcoin is still immature and has some problems that need to be solved, it is difficult to get the favor of this investment tycoon at present. But for Bitcoin believers, Bitcoin still has a lot of potential waiting to be discovered.
The True Value of Bitcoin
Bitcoin is a digital cryptocurrency developed by a group of technical geeks who yearn for fairness and transparency, pursue personal freedom, and have no credit system for inflation. Its technical basis is blockchain and some knowledge of cryptography.
It uses technical means to solve the problem of currency credit subjectivity, and creates a currency system in the virtual world that is democratic, transparent, and absolutely protects personal privacy. The value of Bitcoin comes from the consensus of each node. Among a small group of people, the recognition of the value of Bitcoin is somewhat similar to gold.
All human beings have a deep-rooted belief in gold. Once they lose confidence in legal tender, they will definitely think of gold. Reserve gold, sometimes in preparation for future uncertain disasters. The same is true for Bitcoin, which also carries everyone's yearning for democracy, freedom, and a fair world.
But its price is not as stable as gold, and it doesn't seem to be able to live without the Internet and electricity. Gold seems to need neither of these.
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Disclaimer: The information published in this article does not represent any investment suggestion of the company, nor does it constitute any investment advice. The picture is from the Internet. If there is any infringement, please contact to delete it. Please note the source for reprinting.
