|
|
Having undergone 10 years of development, Bitcoin has indeed yielded returns exceeding millions of times its initial investment. However, its overall market value is only in the billions of dollars. Warren Buffett's latest personal wealth has already exceeded 90 billion dollars. In other words, with the current volume, Buffett alone could essentially take over Bitcoin.
If his company truly invested in Bitcoin, it would be irresponsible to his shareholders because the wealth could be lost overnight. Those who experienced the cryptocurrency bear market in 2018 probably understand the depth of this statement.
Perhaps some people don't know a story from Buffett's early 20s. He liked studying the magazine "The Intelligent Investor" and used theory and practical experience to find stocks called "cigar butt stocks" by Benjamin Graham (Buffett's mentor). These were stocks with very low prices, stocks that could be bought for very little money (what we often call "junk stocks"). After identifying a stock, he would consult Graham and then buy it within his means. Four years later, the $10,000 Buffett invested in the stock market turned into $40,000.
So, in fact, Buffett's first pot of gold was earned from "cigar butt stocks."
Surely, everyone has played the game of Snake, and the secret to winning is to behave like a fly, bumping around everywhere at the beginning. This significantly increases the probability of touching the "long snake" because the "long snake" doesn't dash around; they need stability to achieve final victory.
He said, 'Bitcoin is a device similar to gambling in Las Vegas, associated with a lot of fraud. Many people have suffered losses in Bitcoin. In fact, it hasn't produced anything and can't do anything; it can only be left there, like shells or something. It's like if I tear off a button from my clothes, that's a token, and I'll sell it to you for $1,000. I'll see if I can make it rise to $2,000 by the end of the day... But this button has only one use and a very limited use.'
From rat poison to buttons, if Bitcoin continues to rise, can the 'Oracle of Omaha' maintain his usual cautious attitude? Or will his stance start to change, similar to his attitude toward tech stocks?
In fact, when faced with an unfamiliar field, this investment guru is extremely cautious.
'Some companies have lost their moats, and some companies have a bright future. We will continue to identify these companies, but we will stay within our circle of competence. Although we may make mistakes sometimes, Meng and I won't just enter a completely new field because someone tells us to do so. We might hire ten people completely focused on the new field to invest.' |
|
Post time 15-12-2023 07:04:43