Bitcoin traders

[dennisgorelik]

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https://www.youtube.com/watch?v=dHoNax4ObNM&t=825s
Warren Buffett: Bitcoin ...
[13:45] It will come to a bad ending. Charlie?
[13:48] Charlie Munger: Well, I like crypto currencies a lot less than you do.
And so to me it's just dementia and I think the people who are professional traders - they go into trading cryptocurrencies - it's just disgusting.
It's like somebody else is trading turds and you decide 'I can't be left out".
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Under "professional traders" Charlie Munger meant Goldman Sachs.
Note that Berkshire Hathaway (that Buffett and Munger run) is an investor into Goldman Sachs:
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https://www.goldmansachs.com/our-firm/history/moments/2008-buffett-investment.html
Berkshire Hathaway Invests US$5 Billion in Goldman Sachs Amid Global Financial Crisis
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https://youtu.be/dHoNax4ObNM?t=493
Warren Buffett: If I could buy a 5-year PUT on everyone of the cryptocurrencies, I'd be glad to do that.
But I will be glad to do it.
But I will never short a dime worth of it.
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Comments

[juan_gandhi]

Funny, of course. Buy BRK-A goes up and up.

[dennisgorelik]

1) BRK-A is, probably, overpriced at this time.

2) Buffett concern is that after Bitcoin collapses -- investors will be afraid to invest their money even into legitimate businesses -- for many years.