If you don’t know anything about Warren Buffet, now is the time to do your research, before cryptocurrency becomes even more significant than we all imagined it to be.
Warren Buffet, is, without a doubt, the greatest investor of all time.
Back in the 1950s, the man was worth around $10,000 – a far cry from today’s value. As of the year ending 2018, Buffet was worth more than $84 billion – and that’s just in investment money, never mind the billions of dollars he’s already given to charities and people in need over the years.
Why does any of this information matter?
One sentence may clear that up for you: Warren Buffet is so good at what he does, that when he lends out any investment advice, even Wall Street wants to be sitting front seat during that show.
Here’s an example: Every year, Berkshire Hathaway hosts an annual stockholder meeting, where
Warren Buffet gives out his version of investment advice. Thousands and thousands of shareholders, enthusiasts, press members, and citizens make it there to listen. It doesn’t matter if
Buffet is talking about stocks, today’s economy, or his latest actions, they’re all there to hear what he has to say.
How does this relate to cryptocurrency?
Warren Buffet has an extremely infamous investing strategy that many people stand by, but he is not a big fan of cryptocurrency, and he makes that explicitly known.
A few years back, when Bitcoin was in its beginning prime stages, the press asked Buffet what his thoughts were on the entire process; unfortunately, the answer was not as some wanted it to be.
Buffet sticks by his opinions and his opinion on cryptocurrency is that he can say, with utmost certainty, that there will come a day where cryptocurrency will end badly. He isn’t 100% stubborn in finding some good in the new technology, though. In fact, Buffet is one of the first to admit that there is definitely value in the blockchain technology working to keep the cryptocurrency flowing smoothly – but that’s as far as he’ll go to agree with the current investment matter.
As an investing icon, is there any hope that Buffet will change his mind and get on the cryptocurrency bandwagon?
We don’t see him transitioning over to the dark side any time soon.
Warren Buffet focuses on three aspects of investing:
- Choosing a company with value
- Buying companies he has faith in – those that will excel in the market
- Hanging on to such companies for an extended period to see optimum growth
This is the strategy he used when buying into companies like Coca-Cola and Wells Fargo, and look at where it got him so far.
It’s true, he may miss the mark on this cryptocurrency thing, but Buffet wants to trust in his instincts. A couple of years back, he didn’t necessarily support Amazon, and he could have had a couple more billion dollars under his wing if he decided on a different course of action – but he’s still practically the wealthiest man in the country, and that’s enough for him.