Warren Buffett has been criticizing Bitcoin since the very beginning, using strong messages to tell investors that they will lose a great deal of money by sticking with the digital currency.
While it’s hard for everyone to contradict Mr. Buffett, some cryptocurrency experts think that he’s wrong on his assessment of Bitcoin. Darren Marble, CEO of CrowdfundX, for example, who says: “Although Warren Buffet has made the right call on many investments, he is dead wrong on Bitcoin, because he is totally clueless to the technology”. “How could someone who doesn’t use email possibly appreciate Bitcoin? They can’t.”
“For the record, if you had invested in Berkshire Hathaway stock three years ago, you would be sitting on a 30% profit, whereas had you invested in Bitcoin in three years ago, you would have done 100 times better literally,” Marble says.
Daniel Rice, Chief Technology Officer of Sagewise, is another cryptocurrency expert who doesn’t believe in Buffett: “We disagree with Warren Buffet that Bitcoin is a zero-sum game. While it’s true that Bitcoin acts differently from more traditional investments, this is not a negative in our view. Too often traditional investors forget Bitcoin is actually a technology infrastructure.”
Daniel Worsley, COO of LocalCoinSwap, agrees and says: “Warren Buffet has in the past quoted that you should ‘invest in what you know’. That is one piece of advice that we should all definitely follow!”