Warren Buffett has shared his opinions on crypto once again. Here's what it all means for investors curious about crypto:
When Buffett was asked about cryptocurrency at Berkshire Hathaway’s shareholder meeting Saturday, his answer was sure to be interesting. And the 91-year-old investor, whose personal net worth runs around $124 billion, delivered.
But Buffett said he wouldn’t do the same for Bitcoin, despite its current valuation of $38,000 per coin. He described his views as “the difference between productive assets and something that depends on the next guy paying you more than the last guy got.” This statement reflects Munger’s past positions, including that bitcoin is stupid because it will likely hit zero. He also believes crypto is evil because it undermines the U.S. Federal Reserve and financial system and makes the U.S. look foolish “relative to the communist leader of China.”
So far, Nubank has proved lucrative for Buffett, who reaped around $150 million in profits off his initial investment. In fact, the rewards were high enough that Buffett disclosed an SEC filing on 14 February that Berkshire Hathaway snapped up an additional $1 billion in Nubank shares. Meanwhile, the famous investor’s firm sold Visa shares worth $1.8 billion and Mastercard shares worth $1.3 billion.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jessica Alba Shared a Romantic Photo With Rarely-Seen Husband Cash Warren For Their Anniversary.jessicaalba honors her anniversary with Cash Warren by posting these touching photos to Instagram. BRB, on our way to find a love like theirs!
Read more »
I’m an end-of- life doctor – here’s what really happens when you dieMany experts who work around death every day say it isn’t anything to be afraid of.
Read more »
The Staircase Editor Sophie Brunet on Her “Painful” Michael Peterson Years and HBO Max’s Series‘The Staircase’ editor Sophie Brunet never wanted to be a character in HBO Max’s adaptation—and exclusively tells V.F. that the series misrepresents her 13-year relationship with Michael Peterson.
Read more »
Bill Gates Explains Why He Doesn’t Own Any CryptocurrencyThe fourth-richest person in the world says in a Reddit ‘Ask Me Anything’ session that he likes investing in things that have “valuable output.”
Read more »
A little-known cleanup can help speed up your computerEven though you may not be actively performing tasks on your computer, it doesn’t mean...
Read more »