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RE: Berkshire’s Charlie Munger calls bitcoin ‘totally asinine’

in #bitcoin6 years ago

One of the things you have to remember about Warren Buffet and his cronies at Berkshire Hathaway is that they are assets investors. They rely on fundamental analysis to evaluate companies for the investments that will last for years. They are in the least volatile area of the stock market. This is not their cup of tea and their opinions are based on their perspective and their perspective has been honed in investing that is totally alien to the crypto markets. Warren Buffet won't invest in anything unless he is going to hold it for at least a year and the companies that he invests in have a tangible product that he can understand. Crypto is foreign to this type of investor in every way, shape and form. I have nothing but the highest respect for Mr Munger and Mr Buffet, but their opinions should be taken with a grain of salt because they are out of their element. Cheers @stwbll

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