One of the latest trends in the investment market is the use of cryptocurrencies. These digitalized currencies have created a rage in the market, attracting several investors who considered analyzing them. If you ask the name of two highly regarded 21st-century billionaires, the names Elon Musk and Warren Buffet will definitely come to your mind.
Both these great investors have their own way of analyzing this digital currency, and a comparative analysis of their records and ideas will be a top headline in any cryptocurrency news. Let us look at their description and how they foresee this system.
Cryptocurrencies, according to Warren Buffet
If you look into the list of wealthiest and influential people in the United States, Warren Buffet will always feature in it. He is famous for his investment selections, which obtained him the nickname of the Oracle of Omaha. He is typically a conservative investor. He considers value investing with high regard.
Value investing is based on the principle of searching for undervalued assets that speak of quality fundamentals. Buffet strongly believed that every quality asset would get its price from the market eventually. He is famous for his buy-and-hold investment policies for a long time. When asked about his favorite holding period, Warren Buffet commented that it is forever.
Warren Buffet has been a long-time skeptic of the cryptocurrency and Bitcoin system. He considered Bitcoin to be like rat poison or delusion that will ultimately have no value. He even proclaimed that he did not make any investment in Bitcoins and vowed not to do so in the future. He considers Bitcoins to be a useless object which can only be sold to someone else. It can not be used to do anything other than this purpose.
Buffet has serious doubts about the future of Bitcoins. He believes that it will eventually end up with a bad outcome. He only prefers to show interest in investments that he can understand and has shown his disregard for Bitcoins and other cryptocurrencies.
Cryptocurrencies, according to Elon Musk
Elon Musk has a completely different perception of cryptocurrencies. He actively promotes this system on his Twitter handle, especially for a memecoin called Doge, which earned him the nickname of The Dogefather. He backs the public’s intentions and ideas about cryptocurrencies. His first hype about cryptocurrencies came as a joke when he proclaimed it to be better than lottery tickets.
His biggest push towards the concept of cryptocurrencies is his introduction of cryptocurrency as a mode of payment for his Tesla cars. The company also bought Bitcoins worth $1.5 billion, which is one of the biggest cryptocurrency news to date. He even proclaimed that he has personal holdings of Bitcoin, which he does not prefer to cash out in recent times.
Both Warren Buffet and Elon Musk are extremely successful investors in recent dates. They have contrasting ideas and concepts of Bitcoins, and therefore, the onus is on the person following them. You need to decide whether you will follow the Oracle and disregard Bitcoin or go with the Dogefather and support the field.