Warren Buffett compares Bitcoin to a poison

The oracle of Omaha is a business man, among the richest of our planet. At the head of a fortune estimated at some eighty-six billion, Warren Buffett is at the age of 87 years fit enough to tackle openly the crypto-currencies. If he had already talked about Bitcoin in the past, he did it again today in light of the ” death to the rats in the square “.

A violent diatribe

The crypto-currency divide extensively the professionals in the finance sector, and humble individuals. Some see the future ; others a huge scam. Between these two extremes, the middle way does not exist, so to say, virtually no. Gold Warren Buffet fits very clearly into the category of skeptics. It is this that came out in November of 2017, when he confided to the topic of Bitcoin, the first crypto-currencies and one that is the most. As a reminder, a video comes up on the news dating back about six months :

The multibillion-dollar american was asked on Monday 7 may 2018 by the american chain of television CNBC. The president of the investment company Berkshire Hathaway did not mince dead. Warren Buffett has explained that purchasers of Bitcoin were only to speculate on the hope of reselling for more beast than them, that is to say to someone who would buy for more expensive than them, a kind of wind it.

The “sage of Omaha,” spoke of the ” death to the rats in the square “, while comparing the crypto-currency to speculation on tulips in Holland a few centuries ago… According to him, the increase in the price of Bitcoin does not based not on the creation of economic values, but on an accumulation of “fantasies” speculators wanting to make a fortune without doing anything. All would be based on a mode effect and a phenomenon of gearing : the increase would attract still more investors, which do not sell never just in case of a fall, for fear of not earning any money desired.

The lead in the wing of the Bitcoin ?

Throughout his life, Warren Buffet has always been able to sniff out the good shots. Advantage of (almost) nothing, it has invested in business that have worked and had the “chance” to resist with a lot of success with the various economic crises of recent decades, regardless of their severity. Especially, it has shown very high during the economic recoveries following every crash. In the Face of the undeniable success of the business man, one can only bow down… and lend an ear as soon as he works to give us advice. A video resumes recently, on CNBC precisely :

But the load very virulent Warren Buffet is not going to do the business of Bitcoin. The latter, already weakened by a small “bubble” (or big correction ?) beginning in 2018, starts to regain color. The output of the billionaire will she reverse the course of this crypto-currency ? A first drop of 2.3 % on twenty-four hours has been found (source : CoinMarketCap). Ethereum has lost 4.3% in the same period of time. So we will see in the coming days if the trend continues. Buffett advises to buy shares on the stock market.

Source : Boursier.com