Warren Buffett needs to be educated on #cryptocurrencies; #WarrenBuffett
May 7, 2018 (Investorideas.com Newswire) Warren Buffett's comments on cryptocurrencies highlight how he needs to be educated on the future of money, affirms the boss of one of the world's largest independent financial services organizations.
The observation from deVere Group founder and CEO, Nigel Green, follows Mr Buffett's address to an audience gathered for the Berkshire Hathaway [of which Mr Buffett is CEO] annual meeting.
Mr Buffett opined: "Cryptocurrencies will come to a bad ending."
However, as he spoke, Bitcoin, the largest cryptocurrency, had added $2,563.48 to its value in the last month, marking a price hike of 37.9 per cent.
Mr Green comments: "It comes as little surprise that Mr Buffett and his 94-year-old business partner, Charlie Munger, criticized cryptocurrencies at their annual meeting. They have done so consistently.
"But what I do find monumentally baffling is that two of the world's most successful investors cannot see the intrinsic value of some form of cryptocurrency.
"Do they honestly believe that there is no place for, and no value of, digital, global currencies in an increasingly digitalized and globalized world?
"Do they not see many of the world's major tech companies, established banking groups and household name investors investing in, using and/or beginning to adopt cryptocurrencies?
"Do they not see governments, central banks and financial regulators recognizing the need for regulatory frameworks because cryptocurrencies are becoming so mainstream?"
He continues: "One of the world's greatest investors, Warren Buffett is a hero.
"However, he admits he does not understand cryptocurrencies. He once told CNBC,‘I get into enough trouble with the things I think I know something about. Why in the world should I take a long or short position in something I don't know about?'
"I believe his recent comments on cryptocurrencies illustrate his lack of understanding in this area and how he perhaps needs to be educated on what is likely to be the future of money."
The deVere CEO concludes: "Financial traditionalists, like Mr Buffett and others, appear to exclusively believe in and be motivated by the old, centralized system of money.
"I would suggest that they need to also be open to a new, decentralized, digital, global currency.
"Whether they like it or not, the world has profoundly changed and moved on in recent years. It can't, and won't, go backwards."
Author: George Prior, firstname.lastname@example.org
Investorideas.com features content for Bitcoin, Blockchain and Digital Currency Stocks and ICO's at Cryptocurrencyinvestorideas.com, Blockchaininvestorideas.com and Investorideas.com
View our growing Bitcoin, Blockchain and Digital Currency Stocks Directory
Join our LinkedIn Group Blockchain and Digital Currency Stocks and ICO's
Check out our crypto blog on blogger.com
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com