Warren Buffett does not want to buy bitcoin, and JPMorgan recommends including cryptocurrency in portfolios

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We continue to monitor news related to the cryptocurrency segment. The latest ones suggest that not all world-famous investors are ready to buy bitcoin at breakneck speed. For example, Warren Buffett's companies are not going to invest in bitcoin under any circumstances. This was stated by the chairman of the Board of Directors of Berkshire Hathaway, Charlie Munger. He said in an interview that bitcoin is too volatile, so it does not attract the company's interest. Also, Munger could not answer the question of what surprises him more, the capitalization of Tesla to $1 trillion or bitcoin worth $50,000 per coin? Previously, Buffett himself stated: "Cryptocurrencies do not have any value and do not produce anything. In terms of value, this is a complete zero. I don't have and will never have any cryptocurrencies." Charlie Munger, who is already 95 years old, said earlier: "I never thought for a second about buying bitcoins. I was disgusted with it from the moment it appeared. The more popular it became, the more I hated it. It's just disgusting how passionate people are about it." Thus, many old school investors not only do not want to deal with bitcoin, but also openly hate it, calling on governments to put as much pressure on it as possible. This means that bitcoin is unlikely to ever become an investment tool for everyone, for example, Apple shares.

The government itself, or rather the Fed, believes that bitcoin will never become a competitor to the dollar. Rather, it can compete with gold, but not with the American currency, which holds the whole world. This was stated a few weeks ago by the chairman of the St. Louis Fed, James Bullard. Bullard also noted the disadvantages of cryptocurrencies in general and said that it is unlikely that they will ever replace fiat money. Thus, we still conclude that bitcoin is good as a means of investing or earning money. But it is unlikely that it should be used as a means of preserving value. In daily calculations, it is just as bad as other tokens. Therefore, it turns out that its main value lies in anonymity, which is naturally used by various criminal structures. Although, as repeatedly conducted studies have shown, the dollar is no less criminal than bitcoin. Therefore, the elimination of bitcoin clearly will not solve the problem of money laundering and international terrorism.

The material has been provided by InstaForex Company - www.instaforex.com

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