Warren Buffett Says He’s “An Idiot for Not Buying” A Stake in Amazon Until Now, is Bitcoin Up Next?

Warren Buffet has refrained from investing in Amazon for over two decades over apprehension of the miraculous success, but he just changed his tune. Could he be ready to do the same for Bitcoin?

  • Berkshire Hathaway invested in Amazon shares after waiting 22 years.
  • CEO Warren Buffet says the delays were due to “stupidity.”

Amazon is easily one of the most popular online retailers in the entire world, and anyone who invested early is likely to be reaping major profits as a result. Recently, Berkshire Hathaway has finally made a purchase of the Amazon shares, which CEO Warren Buffett announced to CNBC on Thursday night.

The night before a shareholders meeting for Berkshire Hathaway, Buffett had simply stated that “one of the fellows” at his company’s management desk had invested in it.

Ordinarily, a stock investment from a company would not warrant such substantial attention. However, this is the first for Berkshire, and Buffett has had plenty of praise for owner Jeff Bezos lately. When the IPO for Amazon happened over 20 years ago, Buffett had help back from investing in the brand, leading some people to believe his mind is changing about other investments as well.

On this investment, Buffett said that he has “been a fan” of Amazon, adding that the decision not to purchase has classified him as “an idiot.” Assuring the public that he is not making any “personality changes,” this investment has been a few years in the making.

Buffett was on CNBC’s Squawk Box in 2017, when he was asked about the reasons for not investing in shares for Amazon at the time. He simply replied, “Stupidity.” In a later interview last year with CNBC as well, he admitted that he has been watching the company from the sidelines since it was created.

He said that Bezos’ work has been “something close to a miracle,” and he usually does not bet on the miraculous.

Even though he held back from this investment, Buffett’s cautious tendencies have served him well. He waited three decades to invest in Apple shares, so the fact that he is in on Amazon at this point is a milestone, bringing down his delay to 22 years of success. With the way that he has previously held back from investments, only to invest in big efforts later, is it possible that he will change his mind with Bitcoin?

Warren Buffett has been substantially more critical of Bitcoin than he ever was with Apple and Amazon, calling it “rat poisoned squared” not long ago. He has adamantly insisted on Bitcoin’s uselessness, but the ten years of work in this industry cannot be ignored.

Apple and Amazon have not always been the successful giants of their industries, and his investments in these two companies is only three years apart.

Bitcoin could change a lot over the next three years, and a massive investment from one of the most notable institutional investors would create a lot of confidence in the nascent market. Maybe we should check back in three years and see what Buffett thinks then.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide