It Is Time for Warren Buffett to Bet on Crypto
In 2018, the Veteran investor Warren Buffett told CNBC that cryptocurrencies “will come to a bad ending” and that Bitcoin was “probably rat poison squared”. He said his company Berkshire Hathaway will “never have a position in them.” Warren Buffett is a typical old-school investor who is not ready to adopt and educate himself on the recent and updated technologies in the world of finance, which is why he predicted that Crypto will end badly and called Bitcoin "Rat Poison".
The rat poison squared works well on rats (Him and Banks)
Since Warren Buffet predicted that Bitcoin would end badly, Bitcoin has outperformed Berkshire Hathaway, Bitcoin saw a 683% surge in the year following his criticisms and a 9,014% increase over four years. Bitcoin is and has defied all expectations, especially from critics like Warren Buffet and the likes of them. In my opinion, Warren is stuck in the pasted, I mean he just turned 93 years ago, so he is outdated when it comes to new technologies and when you are stuck with outdated beliefs, you won't adapt to new things or technologies.
Bitcoin has been giving Warren Buffet a run for his money and letting him know that he was wrong about Bitcoin and crypto. Bitcoin has always been known for its good overall performance and it has also been a good store of value. Although knowing who Warren Buffet is, as long as he is making profit, Bitcoin may not worry him but I think it is time for him to move over and invest in the future of Finance which is the crypto and blockchain technologies. Because he was wrong about since 2018 and seeing how well Bitcoin turned out since then, now imagine what happens after the next Bitcoin halving and the upcoming bull run which is supposed to have 2024 - 2025 after the Bitcoin halving, I’m sure Warren might probably get a heart attack when he sees Bitcoin go past its All-Time High or FOMO in.
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As the crypto market continues to defy expectations and demonstrate its resilience, it might be an interesting journey to see if Warren Buffett eventually warms up to the idea of investing in this emerging asset class.
After all, the landscape is evolving rapidly, and there's much more to cryptocurrencies and blockchain technology than meets the eye.
He either has to come on board or get left behind.