RATE Group | Buying Bitcoin Is Not Investing, Claims ‘Oracle Of Omaha’ Warren Buffett
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Buying Bitcoin Is Not Investing, Claims ‘Oracle Of Omaha’ Warren Buffett

28 Apr Buying Bitcoin Is Not Investing, Claims ‘Oracle Of Omaha’ Warren Buffett

Posted at 18:25h in Bitcoin News by

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87-year-old American investor and CEO of Berkshire Hathaway, Warren Buffett, has again scorned investment in cryptocurrencies, claiming that “buying Bitcoin is not investing,” in an interview with Yahoo Finance in Omaha, Nebraska, today, April 28.

“There’s [sic] two kinds of items that people buy and think they’re investing,” he said. “One really is investing and the other isn’t.” He added:

“If you buy something like a farm, an apartment house, or interest in a business […] [y]ou can do that on a private basis […] and it’s a perfectly satisfactory investment. You look at the investment itself to deliver the return to you. Now, if you buy something like Bitcoin or some cryptocurrency, you don’t really have anything that has produced anything. You’re just hoping the next guy pays more.”

Buffett went on to suggest that such investments are merely a speculative “game” and a “gamble” and that “no one knows exactly what it [Bitcoin] is.”

The…

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