Buffeting Buffet

Warren Buffett is again criticizing cryptocurrency investing by saying it is not investing at all, calling it instead, “rat poison.” You can read the article here.

He said Bitcoin is not an asset or asset-producing. My problem with this logic is that it is no different than the American dollar in that respect. At one time perhaps the dollar represented an actual commodity: gold. But not now. It is worth something because we all agree it is worth something.

What cryptocurrency does offer is independence, privacy, security, and a more affordable peer-to-peer transfer of currency.

I don’t know why Buffett is complaining. He has enough money to invest and lose billions of dollars in the crypto market without noticing a difference.

Categories: Bitcoin, cryptocurrency, The Logic

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