A new Bitcoin awareness campaign targeting to create awareness about Bitcoin and other cryptos has been started and several billboards have been erected outside billionaire investor Warren Buffett’s office to remind him he could be wrong about his views on Bitcoin.
The billboard reminds Warren Buffett that he has repeatedly said that he was wrong about Google and Amazon; and he is probably wrong about Bitcoin. The billboard reads:
Warren: You said you were wrong about Google and Amazon. Maybe you are wrong about Bitcoin.
The erection of the billboards near Warren Buffett’s office stems from his continuous bashing and dismissal of Bitcoin and other cryptos. Buffett is one of the top most entrepreneurs and investors who have publicly dismissed Bitcoin, saying it is not a wise investment and asking people to turn away from it.
During the recent Berkshire Hathaway shareholders annual general meeting, the billionaire investor warned his fellow investors against investing in Bitcoin or other crypto, referring to Bitcoin as rat poison squared.
In January, Buffett was at it again saying that the crypto craze that has been witnessed in the last couple of months will have a terrible ending as it has no future.
Warren Buffett is one of the world’s best-known investors and people take his advice on investment seriously. His outbursts have sparked widespread condemnation from blockchain and crypto followers, who have sworn that his predictions will not come to fruition any time soon.
Warren Buffett is not the only investor who has a negative view of cryptocurrencies. Berkshire Hathaway’s Vice Chairman Charlie Munger has previously echoed Buffett’s criticism of cryptocurrency investment, although in much harsher terms. Munger told investors in the last annual shareholders meeting that they shouldn’t turn to crypto just because others are doing so. Munger said,
Someone else is trading turds and you decide I can’t be left out,
The harsh criticism by Munger did not end there. He argued that trading or investing in crypto is ‘just dementia’.
Similarly, Microsoft founder Bill Gates has also previously said that he would bet against Bitcoin, and that he won’t be jumping on the bandwagon any time soon. Gates, who is also a member of Berkshire Hathaway, has previously said that if he could short it, he would – if he had an easy way to do it.
Proven Wrong With Time
While Buffett is known to be a savvy investor, he has previously been proven wrong about tech-based companies. During the 2017 annual shareholders meeting, Buffett said that he was wrong on his views about Amazon and Google and regretted not investing in the two corporate giants. He argued that he underestimated Amazon’s ability to disrupt retail and cloud computing at such a rapid pace. Buffett said:
I had very very very high opinion of Amazon’s CEO Jeff Bezos’ ability when I first met him, and I underestimated him.
Perhaps the billboard will now make him change his perspective on crypto.
Image Credit: Twitter
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