Warren Buffett is an old-school, Middle American kind of guy. Many young people regard him as a fossil despite his obvious financial success.
One current replacement for Buffett’s obsolete approach seems to be to invest in Bitcoin.
Here is what Buffett says about Bitcoin:
Over the past decade, it’s been clear that the crypto craze isn’t something Buffett wants any part of. He described Bitcoin as “probably rat poison squared” back in 2018.
“In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,” Buffett said in 2018. And his stance hasn’t wavered since. According to Benzinga, Buffett believes that cryptocurrencies aren’t a viable or valuable investment.
“Now, if you told me you own all of the Bitcoin in the world and you offered it to me for $25, I wouldn’t take it because what would I do with it? I’d have to sell it back to you one way or another. It isn’t going to do anything,” Buffett said at the Berkshire Hathaway annual shareholder meeting in 2022.
A recent article by Embracing Discomfort describes a general theme that identifies the magical thinking washing across America in 2024. The logic is that our current financial system is horrible. Working for a living, saving for the future, and investing wisely are for stupid people. Smart people can bypass restraint and hard work by investing in the magic solution of the modern age: BITCOIN.
What do you think? Are you interested in being a BITCOIN investor?
