Warren Buffett: ‘I Would Bet Against Every One Of The Cryptocurrencies’

Warren Buffett: ‘I Would Bet Against Every One Of The Cryptocurrencies’

Well, you can add Warren Buffett to the (increasingly long) list of people who want nothing to do with cryptocurrencies. "We don't own any, we're not short any, we'll never have a position in them," Buffett told CNBC in an interview on Wednesday. He also noted that if he could, he'd gladly make a billion (or five or six) on the demise of a bubble that recently garnered the rather dubious title of "most egregious speculative mania in the history of the world": "If I could buy a five-year put
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10 thoughts on “Warren Buffett: ‘I Would Bet Against Every One Of The Cryptocurrencies’

    1. I’m relatively certain the point here is that the market for long-dated puts is, essentially, non-existent in crypto-currencies. And even if there were a counter-party willing to provide a bespoke put-option for Buffett, the counter-party risk, or the risk that said individual/institution won’t be around long enough to service the bet, is enormous. In other words, he really can’t put his money where his mouth is due to the fact that the crypto markets aren’t sufficiently evolved and liquid to provide for bets such as what he articulated.

  1. GBTC has gone from $3523 since mid Dec. down to 1961 – almost half its value and stayed there,, and as well
    NYSE Bitcoin Index has fallen from $18,723.82 to 13,743 today. It’s all a moot point now. And while there are surely BitCoin millionaires out there, more recently – and unfortunately for them – there are probably more people who bought BitCoins at more than $18723 depending on the premiums they paid then. I doubt that Buffet has sleep because of any BitCoin FOMO. Some of us made money and we were simply lucky.

  2. God, that video is difficult to watch. This is a man who was the best in his time. Now he’s willing to say “I don’t know anything about cryptocurrency” and “I’m certain they are nearly all going to zero” within a minute of each other. Even these TV people were too kind to point out the glaring contradiction.

    1. there’s nothing to know. which is why he doesn’t feel like he needs to learn about it. it’s fake. as in: made up.

      did it occur to you that maybe he hasn’t learned about it because it’s glaringly obvious that it isn’t real?

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