Confirmation we are here to stay
https://ift.tt/WVZeqxy
Nice. I feel like that’s Warren’s way of saying “I was wrong”.
EDIT: Had to get context to make sure I understand him. Looks like he referred to it as “rat poisoned squared”. He also said “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending”. Both in 2018.
Munger has been a lot more harsh on crypto, saying “I think the Chinese made the correct decision, which is to simply ban them. My country – English-speaking civilisation – has made the wrong decision.”
Totally agree that they don’t – and likely won’t ever – own any crypto themselves. And yes, agreed that the headlines are reaching.
If anything, they seem to only benefit from crypto and blockchain tech i.e. NuBank allowing investors to invest in a Bitcoin ETF, blockchain payment tech etc – without exposing themselves to the potential downside. I get their point about mass speculation and market frenzy in crypto, but at that level of finance it wouldn’t surprise me if they were quite calculated with the statements they made in the past. Their comments were sensational to say the least.
It’s possible that instead of participating in the ‘gold rush’, they’ve (in part) entered the shovel business.
Cryptocurrency
