Warren Buffett And His Cryptocurrency Delusions

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Every once in a while we feel like we should write about something (or someone), who is a little less optimistic about cryptocurrency than us.

Whether it’s the government of Poland (that paid a Youtuber to create anti-crypto propaganda) or Warren Buffett – sometimes we feel that we should look at the other side of things.

And it’s the latter, whom we decided to mention today. In his interview with CNBC, Buffett expressed his opinion about Bitcoin, explaining that “it is a delusion, basically.”.

This isn’t surprising in the slightest, as he previously said that Bitcoin is nothing but a “gamble” and that “no one knows exactly what it is.”.

Ok, we get it. Bitcoin is complicated. Anyone who tried explaining Bitcoin to their grandparents knows how complicated cryptocurrency is.  Especially to someone, who lived nearly 90 years dealing with traditional, fiat money (and in case of Mr Buffett dealing with it pretty successfully, we might add…).

But there is one thing that we have to applaud, as it suggests that Mr Buffett is agreeing with us on at least a certain aspect of cryptocurrency.  During his latest interview, Buffett expressed that:

“You can stare at it all day, and no little Bitcoins come out or anything like that. It’s a delusion, basically.”

Now – I’ve tried staring at euros and dollars and I witnessed exactly the same results each time. And I drew a conclusion:

Cryptocurrency is an exactly the same delusion as fiat currency. Certain differences may only depend on the medicine you are currently under influence of.

 

Images by Shutterstock.com

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