<p>Berkshire Hathaway CEO Warren Buffet, one of the world’s most revered investor, business magnate and philanthropist has retained his position once again as the world’s third-richest person with a net worth of 84.3 Billion US Dollars. One of the key takeaways from Warren Buffet is his attitude towards investment and a set of rules that he never breaks. From being disciplined and extremely rational about investments, he also suggests against investing borrowed money. With cryptocurrencies and Bitcoin, in particular, has been the talk of the town for quite a while, the investment tycoon Warner Buffet also shared his views on Cryptocurrency and investing in them.
According to Warner Buffet, he doesn’t invest in anything he doesn’t completely understand and knows thoroughly. He says that it is the same thinking that led him to avoid Bitcoin. He advised that investing 10% of your cash in short-term government bonds and the rest 90% in very low-cost index funds like the S&P 500 Index fund is a safe investment. At the same time, he says that extreme patience and long-term view is the right perspective towards investment.
In the recent times, there has been a widespread discussion and investments into cryptocurrencies with the most notable cryptocurrency being the Bitcoin (BTC) followed by Ethereum (ETH) and a few more. There have been many individuals who’ve become millionaires due to the sudden rise in the price of bitcoin towards the end of 2017. However, there has been a downward trend ever since 2018 and people have started becoming unsure about investing in them.
Many stock market pundits have often commented on Bitcoin as the next big bubble that is going to break very soon. However, Buffet says that he doesn’t understand the whole concept of Blockchain in general and hence that made him avoid Cryptocurrencies on the whole.