Charlie Munger: Bitcoin And Other Cryptocurrencies Are Also Bubbles | CNBC



Warren Buffett, Berkshire Hathaway chairman and CEO, and Charlie Munger, Berkshire Hathaway vice chairman, share their views on bitcoin being a bubble.
For more of Warren Buffett’s wit and wisdom visit https://Buffett.CNBC.com
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Charlie Munger: Bitcoin And Other Cryptocurrencies Are Also Bubbles | CNBC

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37 Thoughts to “Charlie Munger: Bitcoin And Other Cryptocurrencies Are Also Bubbles | CNBC”

  1. David Ford

    They are scared! Name one investment, (non-crypto related) that all 3 stood up in unison and lectured the public, "Not to buy!"?
    They are practically on a, "Do Not Buy Cryptocurrency Book Tour"-Lecturing you, "Not to buy cryptocurrencies!" All the while, they are knowingly, already, indirectly invested, into it. Up to thier eyeballs and then some!
    Case and point, does Warren Buffet's, 700 million shares of, "Bank of America (BOA)", ring a bell? Guess who owns the world's most blockchain patents as of Jan. 2018? You guessed it-BOA!
    https://www.fool.com/investing/2018/01/21/surprise-this-company-holds-the-most-blockchain-pa.aspx

    BOA has not been kind nor likes cryptocurrencies either. These "Patents", most likely are not to expand or enhance blockchain technology but, more likely ammunition for an inevitable battle between, "Centralized" and "Decentralized" banking. They are a detailed strategized attempt to legally surpress and/or prevent the evolution of blockchain technology from occurring and creating a legal entry barrier or "Moat", in order to subdue any competition from flourishing.
    So, what are they scared of? It couldn't be be money-This they have plenty of. What has them so eager to bash cryptocurrencies?
    It is their legacy! This is found, within the continued survival of thier company!
    It is thier most worldly cherished asset. The one thing they have put above all other things-Including family, friends, relationships and so much more. The one thing that they have poured thier entire existance into and dedicaited their lives to believing that when they leave this world, they would always be remembered. It is thier, Legacy encompassed within thier own business. Their names written throughout history scribed, etched into stone as the founder of these behemoth enterprises.
    Blockchain threatens to upend the very nature of how banking, insurance, computer operating systems, and so much more operate. Should history prove this to be true and blockchain does become successful, then Warren Buffet's and Bill Gate's companies are doomed to fall to the waist side, and so also their names in hisrory-Like the horse and horse buggy, or even the railroad system become obsolete, so too did the names of these wealthy owners

    Other interesting articls about bitcoin & Warcraft arren Buffet

    Bitcoin up 7 fold since Qarren buffet called Bitcoin a "Mirage"

    https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.cnbc.com/2017/09/07/bitcoin-up-sevenfold-since-warren-buffett-warned-digital-currency-was-a-mirage.html&ved=0ahUKEwiy8M66nP3aAhUEnlkKHfZ9ApsQo7QBCCUwAA&usg=AOvVaw3oYYc6nCSkOgj7TSmdYJ5l

    Bitcoin almost broke through the $10,000 mark—then Warren Buffett and Bill Gates came along

    https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.cnbc.com/amp/2018/05/07/bitcoin-backs-away-from-10k-after-buffett-gates-criticism.html&ved=2ahUKEwj18L_QnP3aAhXqpVkKHeQRCYoQqUMwDXoECAkQCA&usg=AOvVaw04ryzbd-xyRvbox96SJmpd&ampcf=1

  2. M.C. Malkemus, MS

    Buffet protests too much methinks.
    Clearly he is using his influence like Jamie Demon to drive down price so he can aquire large holdings in bitcoin.
    DON'T FALL FOR BUFFET'S DECEPTION.
    He already is one of three persons that control 50% of all US wealth.
    If you believe Buffet does not seek to aquire bitcoin at cheap prices, don't claim later you haven't been warned!

  3. A Gruntown

    Buffet has been wrong over and over and over..

  4. Tim Brown

    Don't be Fooled…the Same people like warren buffet mastercard and JP Morgan saying Bitcoin is a scam are they same people & companies behind the scenes making Big investments & taking out Patents on Block chain technology

  5. Peter Meissnitzer

    FIAT currency is a BUBBLE end of story .

  6. Dirk Diggler

    Fckng noobs buffet is speaking common sense never buy when it's going up, always buy low sell high, GG NOOBS

  7. William William

    There is no more greater fools. The biggest pyramid scheme ever will soon be crashing to a very devastating end. I kind of feel sorry for the people that invest life changing amounts of money into this pyramid scheme. My only advice is that if you do chose to invest your money into this scheme then remember to only gamble with money you are comfortable losing. Good luck people.

  8. Andy Valdez

    Buffet made an interesting point once about gold. If he could have all the gold in the world now or all the farming land in the US, he'd take the land even though gold is currently worth more. The idea is that a stock or any investment security is only ever worth what people will pay. Gold fundamentally is nothing more than a metal. It returns nothing to you. Can't make money on it outside of its scarcity, and demand. but don't forget at one time people weren't that interested in gold and was once valued at far less than it's current oz price. Bitcoin is gold. Currently on the rise, but fundamentally is only worth what people will pay. Should people stop using bitcoin or buying it, that's it, it's over.

  9. Robin Malli

    bit coin will soon crash

  10. tommy pockets

    fake news. nothing new here

  11. Aston Bright

    FACT: THE OLD GENERATION WILL BE OVERTAKEN BY THE NEW GENERATION. It's a power game….Buffett doesn't want Bitcoin to do well. Why would he??? All his money is in fiat.

  12. stighelmer

    stupid old men, when are these overrated dinosaurs going to die finally

  13. Pierre Gleize

    They are criticizing it without knowing anything about the technology involved. Decentralized protocols-based systems will replace companies and governments in the future. There is very high value in having systems that provide services, cannot be corrupted, remove middle-mans and reward people who participate.

  14. Akshay Sapra

    Well.. He was right Folks

  15. Dean Albertson

    I can see both sides of the Bitcoin vs Fiat Money issue. Bitcoin is good because it is limited in quantity. Fiat Money is good because you can buy anything you want with it. How about some of each? A diversified portfolio seems like a good idea to me. Bitcoin is a cool new trend, but the fact is, you cannot buy anything you want with it directly, at least not yet. I think Bitcoin could go to a million dollars, or it could go back to ten cents.

  16. Tc Linn

    How can an honest capitalist like me short the bitcoin turd? Many thanks!

  17. Thai Hoang

    When the market change. You change. If not. You will fall behind. Old people do not know what this is capable of. Good luck .

  18. jordan harrison

    Warren Buffet has done incredible things for finance. However his time has come to an end. His ability to discern as investor has dwindled..

  19. Lucky Never

    I like the idea of people actually trashing the best investor in our history in the comments, look how smart everyone is ;p

  20. md jabir

    Who want to but BTC ATC SVC coin contact me WhatsApp &call 7549050091

  21. Scoundrel 91

    The comment section is so cringe. Comparing fiat currency to muh futuristic money order.

  22. Marco Renteria

    It's going to interesting to watch when bitcoin bubble pops

  23. Vinamr Mahajan

    Bitcoin is definitely the future and are here to stay for a long time But the present speculation going on in cryptos will definitely have a bad ending

  24. Jeremiah Alphonsus

    Buy LOW, sell high.

  25. im trying to break out the matrix

    Oh I'm aware that Bitcoin and all crypto currencies are going to fall dramatically soon I just want one more super pump to 100,000 or more lol that's it and I'm done ?

  26. Kaizer Chou

    "If you're buying something because it went up yesterday, or last week, that is not a good reason to buy at anything. That will get you in trouble overtime." -W. Buffett

  27. Davin Bacon

    He also didn't think Amazon could do what it did or what Google did.

  28. konopamiami

    do not let them scare you ! unfortunately Bitcoin and other cryptocurrencies are not profitable for them so they will say anything to stop you investing in crypto. I dont wont to disrespect Warren Buffett and other successful businessmen but they have No idea how all crypto works and how this technology will change the world ! (changing)

  29. Carlos Cardenal

    That guys has 80 + billion dollars. I think he knows what he is talking bout¡

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