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RE: At Which Price Point Do You Think Warren Buffett Is Going To Start Panic Buying Bitcoin? :)

in LeoFinance • 4 years ago

Good question! I think never.

First, buying the miner, is not exactly 100% the same as buying the commodity.

Second, considering the size (smallish) of the investment, it was most likely either of his lieutenants Ted Weschler or Todd Combs that pulled the trigger.

The same reason why Warren never bought gold (as he has explained for decades) is the same reason he has not and will not buy BTC.. Simply it does nothing. Gold doesnt have employees nor does it produce a profit.

Here is a good article on it:
https://www.forbes.com/sites/robertberger/2020/08/28/warren-buffetts-gold/#6a5e6e056a63

4 years ago in LeoFinance by
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     4 years ago  

    That question was a bit of a joke, really.

    But seriously, imagine what happens when, and it's a question of when and not if, the world begins to question the dollar's status as the world's reserve currency. The US economy and its share of world trade has been steadily decreasing for a long time. Interest rates area already abnormally low in all developed economies. If fiat currencies and ultimately the dollar are in for a crisis eventually, then a neutral and decentralized new reserve currency might emerge. In my opinion, Bitcoin a candidate for that. Wouldn't it make sense to allocate some small portion of one's portfolio in Bitcoin? I saw a paper somewhere that showed it was the rational course of action.