3 ms·
Curious that both Buffett and Bill Gates [0] are publicly criticizing Bitcoin right now. People make big dumb investments every day, and you don't see Buffett
by panarky 9y ago
Curious that both Buffett and Bill Gates [0] are publicly criticizing Bitcoin right now.
People make big dumb investments every day, and you don't see Buffett and Gates talking to the media about it.
What's their objective? And why together? And why now?
[0] https://www.cnbc.com/2018/05/07/bill-gates-i-would-short-bitcoin-if-i-could.html https://www.cnbc.com/2018/05/07/bill-gates-i-would-short-bit...
- drcode 9y agoGood question... Though likely the answer is pretty mundane: It's probably something they keep being asked about in interviews, and they feel some obligation to dampen the hype on cryptcurrency- Also, there's a "survivorship bias" issue, in that both guys got very successful using business strategies involving an unrelated domain, so of course they would say "If you want to build wealth, maybe instead focus on these other asset classes that worked really well for me."
- tim333 9y agoYeah that and I think an effort to stop the public getting burnt.