Apparently, not only large companies such as Goldman Sachs, invest their views on cryptocurrencies. Now the likes of Bill Gates, Warren Buffet and Charlie Munger hit Bitcoin hard against him, during an interview on CNBC.
The vice president of Berkshire Hathaway, Charlie Munger, was the first to talk about Bitcoin. He called it “artificial gold without value” before stating that its ability to facilitate illegal activities is not something desirable for the world.
“Bitcoin reminds me of Oscar Wilde’s definition of fox hunting: the search for the intractable for the indescribable,” he continued referring to Oscar Wilde in a curious nonsense analogy.
and ended by saying that “I think Bitcoin is a dross activity.”
Bill Gates did not fall short, it was possibly the only positive feeling of the entire interview, admitting that sharing databases and verifying transactions using a blockchain was ‘something good’. However, when talking about Bitcoin, he agreed with Munger about the speculative nature of the asset. He concluded by stating that “if there was an easy way to cut Bitcoin, I would do it”. Remember that Microsoft offers services in the cloud of Azure “for cryptocurrencies”, and their statements contradict your project, which is also a source of income.
Warren Buffett, CEO of Berkshire Hathaway completed the interview succinctly and with a typical contempt for Bitcoin advocates saying:
“If people react when you criticise their investment, if they get mad, they’re gambling… If they really like what they own, what difference would it make? If I criticise their wife or something, they don’t get all upset about it [laughs].”
Apparently, these characters of advanced age, seem that they do not want to understand something new, something that they have not “invented” or can not control. Millennials (young people between 15 and 30 years old) understand perfectly what it is and how cryptocurrencies work, just as they also understand how an economic crisis was generated and who took the blame for it.
Fear? Lack of control or understanding? We’ll see how long it takes to say otherwise (again) and support cryptocurrencies.
The difficult thing is not to learn, the difficult thing is to know how to teach.
Editor and coordinator of the free book “La era de las BLOCK punto COM”
CEO of bitcoiner.today