Warren Buffett: thoughts on Bitcoin

Warren Buffett once called Bitcoin rat poison - yet so far, bitcoin has survived Warren Buffett's famous words. Bitcoin has been one of the best assets to own over the past 12 months. It recently broke above the $40,000 barrier for the first time, up from around $8,000 at the beginning of 2020.
Following this performance, it’s understandable that some investors might be interested in buying into the asset ahead of further gains.

Warren buffett advised, some years ago, to stay away from bitcoin. He believed the crypto market was built on nothing but hype and once that hype has disappeared, investors would then realise what they have bought and at such a price. Although this hasn’t completely happened yet and may not happen, is Warren Buffett right?

The Berkshire Hathaway CEO remains a crypto critic despite dining with cryptocurrency coin, Tron, CEO Justin Sun and other crypto bosses last year. We should not forget to mention that although buffett is a vocal critic of Bitcoin, he did give kudos to Justin Sun for paying a record amount to their charity meal.

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We are not financial advisors. The content on our YouTube videos are for educational purposes only and merely cite our own personal opinions. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary. Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won't experience any loss when investing. Always remember to make smart decisions and do your own research!