Does Warren Buffet Have Any Idea about Cryptocurrencies?

Does Warren Buffet Have Any Idea about Cryptocurrencies?

If you have been following the news about Bitcoin and other cryptocurrencies, then you surely know that Warren Buffet does not have a positive idea and stance regarding these new technologies. In his opinion, Bitcoin is not suitable for investing and cannot be counted on. In his new remarks, he has attacked cryptocurrencies twice and has described them as invaluable. Are the views and analyses of Warren Buffet, as one of the biggest entrepreneurs and investors in the world, important about one of the most important technologies of these days?  Are his views credible enough and should we count on them? What do you think?

Warren Buffett, Does Not Know Bitcoin?

Bitcoin and generally speaking the Blockchain technologies, cryptocurrencies, etc. are among the newest technologies that have entered the world, and as such understanding them is not a simple task. One of the most important criteria of these cryptocurrencies is that you should go about finding out more about them in the sphere of the virtual world and computers. It is for this reason that seemingly the new generation of young people are in close contact with computers and the virtual world, and therefore they get acquainted with its concepts and applications more easily. In other words, understanding Bitcoin, Blockchain and the concepts that revolve around them are much easier for the new generation. One of the main reasons that older generations have doubts about Bitcoin and Blockchain and have focused mostly on their possible crimes is this weakness in making contact with the world of new technologies.

What Is Warren Buffet’s Definition of Bitcoin?

Warren Buffet believes that Bitcoin and other cryptocurrencies are a strong tool for gambling and many various crimes could happen around this new technology. Also, so far that ten years have passed since the beginning of the activities of cryptocurrencies in the world, they have not offered any special achievement other than developing a basis for illicit activities to the world.

But none of Warren Buffet’s views on cryptocurrencies can be considered as valid. In more precise terms, these interpretations are expressed without any support and exact understanding, and it seems that Buffet does not have a good understanding of cryptocurrencies. One of the most interesting remarks made by Warren Buffet about cryptocurrencies is this: “Bitcoin for me is something like my shirt’s button.” This funny remark is indicative of Buffet’s little information about cryptocurrencies.

Even if cryptocurrencies cannot be categorized as practical and future-making technologies, still we cannot ignore its decentralized nature, its speed in making international transactions and the possibility of storing it.

How Will the Future of Cryptocurrencies Be Like?

It is true that the legendary Warren Buffet and many experts still do not have a proper understanding of cryptocurrencies, but the entrance of companies like Facebook to the campaign and trying to be present in the crypto and Blockchain world show that we are faced with an extremely important infrastructure, that will lead to amazing revolutions in the world in the near future. The ability of decentralized networks in replacing today’s social networks and payment systems, is indicative of changes that sooner or later will take place. These things are happening currently, whether Warren Buffet agrees with Bitcoin or considers it a useless button that is not even worth being on his coat.