Monday, November 6, 2017

Warren Buffett doesn't believe in Bitcoin - but should we believe Warren Buffett?

Speaking to MarketWatch, the man often called "the oracle" said about Bitcoin:

“You can’t value bitcoin because it’s not a value-producing asset.” He added that there’s no telling how far bitcoin’s price will go and described it as a “real bubble in that sort of thing.”

But now for some perspective.  While sure, Buffett has been right about a lot, he's has some massive famous missteps.

Once even admitting "I was too dumb" when it came to Amazon, and "I blew it" when it came to Google.

With all due respect, it seems like if it's technology based, and Buffett doesn't see a future in it - that might just be a good sign.

Author: Oliver Redding
Seattle News Desk