Quote:
Originally Posted by tophcfa
Warren Buffett, indisputably one of the most respected investors ever, stated he wouldn’t buy all the Bitcoin in the world for $25. Buffett believes assets have to have value, deliver something to somebody. He said he would gladly write a check for $25 billion for either 1% of all the farmland our apartment buildings in the country, those assets produce food and rent, but Bitcoin produces nothing. He further stated that the only thing one can do with Bitcoin is hope someone will be willing to buy it back and that it undermines the Federal Reserve system. In his strongest statement, Buffett said that Bitcoin is “probably rat poison squared”.
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Thanks, tophcfa,
I knew my instincts were right this time. I would not touch Bitcoin either.
They say experience is the best teacher — next to Warren Buffett, of course.
I got caught in the dot-com bubble of the 1990s. When that bubble popped, I clearly remember thinking. . .well, this must be exactly what the term ‘sucker punch’ means.
I also clearly remember my thinking that led up to getting caught in that big pop………
I thought I was seeing the future…….
I would come home from work, check my funds, and revel in my brilliance……..
There was a brief and shining moment when I had a fund doing more than 100% — rocket fast.
My thinking was so arrogant, so nauseatingly arrogant.
At least, I had not bet the farm, only the butter and egg money. But, even so, that experience reined me in and I have been boring ever since.
Boomer