Crypto-skeptics and Reality


Among the implacable opponents of cryptocurrency billionaire and owner of Berkshire Hathaway Inc. Warren Buffett rightly shares a place in the top with Gary Gensler. However, if Gensler as a government official is obliged to broadcast the opinion of government bodies, then Buffett has the privilege of his own opinion.




Both persons use rather sharp expressions to characterize cryptocurrencies. Gensler announced that Bitcoin was being used exclusively to finance drug trafficking and terrorism, and Buffett called it "rat poison" without ceremony.


However, in the case of Buffett you can clearly see the difference between personal opinion and the interests of the company. Business is always in priority! 


BlackRock head Larry Fink was in about the same situation. Some years ago, he was quite sharply opposed to cryptocurrencies, but changed his position as the company’s interests required entry into the crypto market. From the budin point of view of the current business change was justified, only Bitcoin-ETF BlackRock will earn billions.


In 2019, while still president, Donald Trump was skeptical about cryptocurrencies, calling them unreliable, but this did not prevent him from making money on NFT and keeping significant funds on Ethereum wallets.


Buffett also failed to preserve his crypto-virginity. Berkshire invested 250M in the Brazilian fintech company Nu Holdings Ltd, which is quite active in cryptocurrencies, including opening a subsidiary of Nucrypto and launching its own cryptocurrency, Nucoin. However, the increase in profit to 100% per year is a good argument.


When we talk about opponents of cryptocurrencies, we should always separate rhetoric from real messages and actions. The critic may also be a major crypto investor. It reminds me of the psychology of landfill workers - they don’t like their product and their workplace, but it doesn’t stop them from making money.

Business is business!


#CryptoSkepticism#CryptocurrencyReality#BuffettAndCrypto#BusinessOverBias#InvestmentContradictions

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