Bitcoin’s market value rose to the 10th largest in the world, surpassing Berkshire Hathaway

For years, Warren Buffet, a business tycoon, has denounced bitcoin as an investment and told people that encrypted assets are just gambling. Two years ago, just before Berkshire Hathaway’s 2018 annual general meeting, Mr. Buffett said bitcoin “could be a rat drug.”. Despite the criticism from Mr. Buffett, the market value of bitcoin has surpassed that of Berkshire Hathaway, the multinational conglomerate holding company of Mr. Buffett. Bitcoin has many haters, including Jamie Dimon, JP Morgan’s chief executive, Peter Schiff, a gold supporter, and Nouriel Roubini, the “doctor of Doom”. In addition to these experts, American investor Warren Buffett, chairman and CEO of Berkshire Hathaway, also doesn’t like bitcoin. For years, the legendary young man with an interest in business and investment has been extremely keen on bitcoin. Two years ago, Mr. Buffett explained that buying bitcoin was not an investment. “This [buying bitcoin] is not an investment.” In an interview in 2018, Mr. Buffett emphasized that “you are speculating. It’s no problem. If you want to bet that someone will follow the investment and pay more, it’s a game. This is not an investment. ” Later, in a discussion with CNBC’s Becky quick, Mr. Buffett further explained that bitcoin “could be a rat drug.”. In addition, on Valentine’s day in 2018, Charlie Munger, Mr. Buffett’s partner and vice chairman of Berkshire Hathaway, also said he hated bitcoin. At the company’s annual general meeting, Munger said encrypted assets were “poison” and “disgusting.”. “I’ve never thought about getting involved in (bitcoin) for a second.” Munger insisted, “I get sick of it. The more popular it is, the more I hate it. It’s disgusting that people are blinded by bitcoin. “ Although Berkshire Hathaway tycoons hate bitcoin, the market value of bitcoin exceeds the net worth of the multinational holding company. At the time of publication, bitcoin’s price was currently about $29300, with a market value of $544 billion, which was $1 billion higher than Berkshire Hathaway’s market value of $543.117 billion. (today’s planet Daily: according to the latest coinmarket cap data, the market value of bitcoin has reached $545.6 billion.) The next major company BTC needs to surpass is TSMC, the world’s largest semiconductor manufacturer. The market value of bitcoin has surpassed that of visa, the main payment network, with a market value of about $482 billion. Basically, Berkshire Hathaway group also includes many other companies, because this holding company owns well-known enterprises including Dairy Queen, GEICO, Duracell, Pampered Chef and fruit of the room. Berkshire also has large minority stakes in Coca Cola, Bank of America, apple and American Express. Since bitcoin was born 12 years ago on January 3, 2009, its price has soared, and it is hard for traditional investment tycoons to understand why it has become so valuable. To this day, people like Peter Schiff and Warren Buffett still think that bitcoin is just a pyramid scheme. “If you buy things like farms, apartments, or are interested in businesses,” Mr. Buffett once said, “you can invest privately. This is a completely satisfactory investment. You’re looking at the investment itself to bring you a return. Now, if you buy bitcoin or some cryptocurrency, you have nothing in your hand. Because you just want the next person to pay more. ”

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