Warren Buffet Defends Cash Over Cryptocurrencies

Legendary capitalist and thus crypto’s biggest critic, Warren Buffett, defended silver over “new kinds of money” and the same Berkshire Hathaway would “always have plenty of cash on hand,” as CNBC reported. , CNN different | et al. | et al} printed live updates of him addressing the company’s annual meeting of shareholders today in Omaha, Nebraska. Buffett, 91, did not specify bitcoin or other cryptocurrencies, although in the past he has said it was not a distinctive value.

Investments are not just jokes

Warren Buffett wanted to simplify the size of his $248 billion stock portfolio, saying the investments are just “chatter” with the companies he takes stakes in.

The wealthy capitalist spent part of his free annual shareholder letter on Saturday, but an accounting distinction between his stock picks and outright takeovers creates a ‘glaring omission’ in Berkshire Hathaway Inc’s financial results The conglomerate’s equity investments can generate capital gains that are at least sufficient for Berkshire’s share of the preserved earnings of the individual companies, Buffett argued.

Overall, the retained earnings of our investees are guaranteed to be of major importance in the growth of Berkshire’s value, Buffett even in the letter. For its equity investments, only the dividends Berkshire receives are recorded in operating income. Retained earnings work heavy and add a lot of value, but not in a way that transfers those gains directly into Berkshire’s reported earnings.

Warren Buffet thinks money can only pay bills

The US government believes this has become redeemable for legal money in the United States,” Buffett said, posting a photo of a $20 bill.

That’s what money is, Buffet added. it will eventually become much less valuable for obtaining energy. However, once people tell you that they are looking for new kinds of money, that may be the only problem that can pay the bills.

Tron founder and CEO Justin Sun dined with Buffett in Omaha in 2020, paying $4.57 million for the privilege, with the funds going to the Glide Foundation charity in San Francisco.

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