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re: Warren Buffett says he wouldn't pay $25 for all the bitcoin in the world
Posted on 4/30/22 at 10:26 pm to bad93ex
Posted on 4/30/22 at 10:26 pm to bad93ex
“ He reiterated his view that bitcoin isn't worth anything because it doesn't produce anything, and holders rely on somebody else being willing to pay more for it than they did.”
So…investors don’t rely on stocks and physicals to appreciate. Got it. This is the same jerk that helped kill the Keystone project so his majority stake in Union Pacific could ship oil at a huge profit. If you don’t think he’s been colluding with the Federal Reserve i’ve got some oceanfront property in Arizona to sell you…
So…investors don’t rely on stocks and physicals to appreciate. Got it. This is the same jerk that helped kill the Keystone project so his majority stake in Union Pacific could ship oil at a huge profit. If you don’t think he’s been colluding with the Federal Reserve i’ve got some oceanfront property in Arizona to sell you…
This post was edited on 4/30/22 at 10:27 pm
3
Posted on 4/30/22 at 10:28 pm to Buckeye06
quote:
When you invest in a company that goes bankrupt you get nothing.
Technically it depends on if you own preferred or common shares.
Posted on 4/30/22 at 10:29 pm to Zapps4Life
quote:
This is the same jerk that helped kill the Keystone project so his majority stake in Union Pacific could ship oil at a huge profit.
Posted on 4/30/22 at 10:31 pm to rickgrimes
The market cap on bitcoin is over $800B. So he wouldn't buy all of it for $25? That would be the best investment he ever made and he wouldn't do it? He doesn't have to hold on to it.
Posted on 4/30/22 at 10:38 pm to James11111
quote:
Are you talking about the actual paper that US dollars are made of? Or the computers that most "Dollars" are kept on?
Buffet is talking about Bitcoin as an investment, not a currency. Who is holding US dollars as an investment?
Posted on 4/30/22 at 10:41 pm to bad93ex
[quote]Investing genius whiffed on Google and Amazon, misses out on crypto as well. Berkshire Hathaway has performed incredibly well since the early 60s but he has missed out on a lot of tech stocks. [/quote
“Buffett’s Berkshire Hathaway acquired 887 million shares or 5.4 percent stake in Apple between 2016 and 2018. The stake cost the conglomerate $36 billion, which was worth $160 billion on Monday when the iPhone maker hit the $3 trillion milestone.”
“Buffett’s Berkshire Hathaway acquired 887 million shares or 5.4 percent stake in Apple between 2016 and 2018. The stake cost the conglomerate $36 billion, which was worth $160 billion on Monday when the iPhone maker hit the $3 trillion milestone.”
This post was edited on 4/30/22 at 10:45 pm
Posted on 4/30/22 at 10:45 pm to rickgrimes
I don't invest in stuff I don't get and bitcoin is one of them.
They say Ft Worth is going to "Mine" bitcoin and reading what that means gives me tired head
They say Ft Worth is going to "Mine" bitcoin and reading what that means gives me tired head
Posted on 4/30/22 at 10:45 pm to EA6B
quote:
Berkshire owns billions in Apple
Apple is a tech company but also makes products, damn good hardware.
Posted on 4/30/22 at 10:53 pm to lsusteve1
quote:
Coin Mining sites are popping up all over TX and NE.
Do they are going to turn a huge amount of electricity into heat producing nothing in the process, sort makes Buffet’s point.
Posted on 4/30/22 at 10:57 pm to rickgrimes
Buffet is old... If he was better at investing he would be worth a lot more. Why was he the wealthiest person in the world. He is still alive. Bunch of people surpassed him tho because he is no longer willing to take risk.
Posted on 4/30/22 at 11:06 pm to rickgrimes
what about $24?
Posted on 4/30/22 at 11:14 pm to EA6B
quote:
Coin Mining sites are popping up all over TX and NE.
Do they are going to turn a huge amount of electricity into heat producing nothing in the process, sort makes Buffet’s point.
they are powering their operations using flair gas... the alternative is literally burning/wasting that same gas and producing nothing in the process. those states starting to mine end up decreasing waste while producing revenue.
also mining 'produces' security for the network and validates transactions on it. then it can be converted to fiat or other cryptos that provide a function.
when operations are set up this way...even if you view their mining crypto as literally providing nothing...the alternative is exactly the same.
Posted on 4/30/22 at 11:19 pm to WWII Collector
You agree and you’re a complete idiot lol
Posted on 4/30/22 at 11:25 pm to NPComb
quote:
what about $24?
Bitcoin could drop 99% and it would still be worth 7 billion. Buffett is just trying to say it has no asset backing the price but neither does the US dollar.
Posted on 4/30/22 at 11:27 pm to OWLFAN86
quote:This guy was telling all of us to buy Bitcoin back when it was selling for $3 a share. Maybe he was the smartest of all of us.
every bitcoin guy I know is a dumbass
Posted on 4/30/22 at 11:29 pm to fallguy_1978
quote:
Bitcoin could drop 99% and it would still be worth 7 billion. Buffett is just trying to say it has no asset backing the price but neither does the US dollar.
It is sour grapes on Buffett's behalf, he missed out on the cloud and crypto because he didn't understand it.
Posted on 4/30/22 at 11:48 pm to fallguy_1978
quote:
Bitcoin could drop 99% and it would still be worth 7 billion. Buffett is just trying to say it has no asset backing the price but neither does the US dollar.
Once again Buffet is referring to Bitcoin as a investment vehicle, not a currency.
Posted on 4/30/22 at 11:51 pm to rickgrimes
I’m tired of hearing about Warren Buffett.
Posted on 4/30/22 at 11:51 pm to EA6B
quote:
Once again Buffet is referring to Bitcoin as a investment vehicle, not a currency.
And as 2008 showed us, any stock can go to zero as well. He's a big Verizon investor and they could have some shite on the books that makes the company worthless to the common shareholder. I'm not arguing that will happen but his stance has little merit.
Posted on 4/30/22 at 11:53 pm to fallguy_1978
Buffett has made a lot of money for a lot of people. I've been to his meetings in Omaha and the man knows what he's talking about. I agree with him on Bitcoin. I think it's for fools. And the fools that own it are the ones trying to talk other people into buying it, bc that's the only way it holds any value. It's a classic house of cards/MLM kind of scam. It will be worth NOTHING in 10 years.
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