Jimmy Song Considers Warren Buffett’s Possible Interest In Bitcoin As Being Premature
- Warren Buffett could be interested in digital currencies
- Nonetheless, Jimmy Song believes the industry should attract other investors
Bitcoin (BTC) and digital currencies have expanded in the market but they have also received several critics from others individuals and experts. Indeed, they were attacked by traditional investors such as Jamied Dimon or Warren Buffett. Nonetheless, Justin Sun, the CEO of Tron (TRX) , will meet with Buffett and discuss different issues related to cryptocurrencies. Jimmy Song, a recognized Bitcoin developer, said that it’s 10 to 15 years too early for Warren Buffett to enter the space.
Warren Buffett Could Be Entering Too Early To The Market
Jimmy Song wrote a tweet on June 4 in which he says that it’s about 10-15 years too early for Warren Bufett to enter the crypto market. He said that it is important to convince VC’s that are tired of the Initial Coin Offering (ICO) and blockchain hype that affected the space some time ago. He went on saing that pension funds that want portfolio diversification and family offices are also good targets to attract to the market.
IMO, it's about 10-15 years too early for Warren Buffet.
The people to convince right now are VC's who are tired of the ICO/blockchain hype, pension funds that want portfolio diversification and family offices that think real estate and stocks are frothy.
— Jimmy Song (송재준) (@jimmysong) June 3, 2019
Buffett’s attitude towards virtual currencies seems to follow his way of thinking about technology stocks. He has avoided tech companies because he did not understand how the secor worked. This shows that if he does not understand how an industry or sector works, he would not invest on it.
In the past, Buffett called Bitcoin “rat poison squared,” and he said that it was a “delusion” that could only attract “charlatans.” Justin Sun is going to have a difficult task convincing him about digital currencies and Bitcoin.