Warren Buffet’s Anti-Bitcoin Stance Hasn’t Wavered At All, But Should the Oracle of Omaha Reconsider?

Finance Guru Warren Buffett recently went on record to state that if we're to have it his way, he would like to make permanent investments in U.S. companies that had reasonably good

“long-term market prospects”.

In addition to this, via a letter presented to Berkshire Hathaway’s shareholders during their annual get together sometime back, Buffett wrote:

“In the years ahead, we hope to move much of our excess liquidity into businesses that Berkshire will permanently own. The immediate prospects for that, however, are not good: Prices are sky-high for businesses possessing decent long-term prospects.”

If that wasn't enough, Buffett also went on to add that even at his age, he as well as Berkshire Vice Chairman Charlie Munger were still looking to procure an

“elephant-sized acquisition.”

Bitcoin Is A Bargain Right Now

If Buffett is really looking to invest in an asset that has decent long-term prospects in line with his income, he should really consider the possibility of putting his money into Bitcoin— even if it goes against his longtime crypto skeptic stance.

First of all, Bitcoin is currently in its third stage of global market adoption. Not only that, the crypto-industry as a whole has also matured into a highly profitable space that has enormous upside potential.

Other Key Takeaways To Consider

(i) In the past, Buffett has likened Bitcoin and other top alt-assets to “rat poison”.

(ii) A major chunk of Warren’s massive earnings have by and large come primarily from investments made within the banking industry.

(iii) As of June 30, 2018, Berkshire's investment portfolio comprises of :

  • Wells Fargo: 12.81%
  • Bank of America: 9.79%
  • American Express: 7.60%
  • US Bancorp: 2.57%
  • Moody’s Corporation: 2.15%
  • Bank of New York Mellon: 1.79%
  • Goldman Sachs Group: 1.49%
  • Visa: 0.72%
  • Mastercard: 0.50%
  • M&T Bank Corp: 0.47%
  • Synchrony Financial: 0.35%
  • Torchmark Corp: 0.26%

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