Warren Buffet is renowned for his investing expertise and successful track record investing in traditional companies over the years. One of Buffet's keys to success is to invest in simple, tangible businesses that he understands well; such as consumer goods and banking businesses. He admits that if there is a lot of technology, he won't understand it and therefore won't invest in it. This is why he opted not to invest in companies like Amazon and Google.
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Buffett is one of the biggest public detractors from Bitcoin, calling it "rat poison" at the $100 USD price point back in 2013 and "rat poison squared in 2018 at the $10,000 price point. He believes that the "euphoria" for cryptocurrency investors won't end well and claims that he will never invest in bitcoin or other cryptocurrencies.This piece is an interpretation of Buffett's logic in his decision to never invest in crypto.
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