As I write this, the stock market is on pace for its largest single-day drop since the 2020 COVID crash.
It’s times like these that investors often turn to Berkshire Hathaway CEO Warren Buffett for advice.
But, as I’m about to explain, Buffett doesn’t know everything about investing.
And he definitely doesn’t understand bitcoin and other cryptos.
In 2014, he called bitcoin a “mirage” and told investors to “stay away.”
Over the next three years, the crypto skyrocketed over 3,000%.
Then in 2018, he called bitcoin “rat poison.”
Three years later, the crypto was up over 600%.
Now Buffett may have made his most ignorant statement yet.
On Saturday he said: “If you told me you own all of the bitcoin in the world and you offered it to me for $25, I wouldn’t take it.”
For the record, bitcoin’s market cap is $692 billion — almost the same size as Buffett’s Berkshire Hathaway.
And he wouldn’t buy it all for just $25?
Warren Buffett has finally lost his mind.
Don’t Bet on Buffett
Buffett loves to hate bitcoin.
But he never mentions its incredible track record.
When Ian King launched Next Wave Crypto Fortunes in 2018, bitcoin was one of his first recommendations.
Since then, the crypto has gained 255%.
Over the same time period, Berkshire Hathaway is only up 57%.
Bitcoin vs. Berkshire Hathaway
And those gains are small compared to some of Ian’s closed positions.
Those include:
- A 633% win on Decred.
- A 1,934% win on Solana.
- An 18,325% win on Terra.
That’s a lot of winning!
On the other hand, Berkshire Hathaway barely outperformed the S&P 500 Index over the same time frame.
S&P 500 vs. Berkshire Hathaway
If Buffett had added cryptos such as bitcoin and the “Next Gen Coin” to his portfolio, his company’s shareholders would be a lot happier.
Everyone Has the Chance to Make a Crypto Fortune
I can kind of see why Buffett hates cryptos.
After all, he has 80 years of investing experience and he can barely beat the market.
Meanwhile, anyone can get Ian’s three new reports and have the chance to make a fortune.
The fact is: With crypto gains like 633% … 1,934% … and 18,325%…
Boring investment firms like Berkshire Hathaway are obsolete.
Regards,
Assistant Managing Editor, Banyan Hill Publishing
Morning Movers
From open till noon Eastern time.
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