As we all know Warren Buffett has been staying away from Cryptocurrencies for a very long time. He thinks that the crypto assets are of no value and he also confirmed that he is not holding any Cryptocurrencies. Even though there was a 6X pump in the price of Bitcoin in the last 5 months, many big investors across the world are still hesitant to invest.
Warren Buffett's investments are usually very unique. If we look at his successful investment from the past he always looks for stocks that are all basic needs and has some value. But I guess people should start seeing Bitcoin and other Cryptocurrencies as commodities instead of stocks. People misunderstand cryptocurrencies as stocks and think that they are not possessing any value.
In my opinion, I would say that any decentralized cryptocurrency with a definite supply is always precious. If not today they will have a great value in the future maybe not straightforward value but at least for pride people will keep investing. It is good to explore and start understanding what cryptocurrencies are all about and how someone can get started. In the coming years at least before 2030, I personally feel that cryptocurrencies would get more popular and can attract more investments. The governments have also started considering releasing their own coins or smart contracts.
In my yesterday's article, I mentioned how important it is to bring people from the FIAT world to the crypto world. Heavy investors like Warren Buffett can be a big gift to the crypto world. Already Elon Musk created a huge noise on social media platforms and has also invested a lot into crypto.
Fraudulent and illegal transactions
I agree that there are fraudulent and illegal transactions happening with the help of cryptocurrencies. It is also true that many people are doing money laundering with the help of cryptocurrencies. But even if not for crypto, people would still continue to do it in one way or the other. I guess it is hard to prevent them from happening. There are weapons transactions and casino transactions happening with the help of Bitcoins and other cryptocurrencies on the dark web.
This has now become a medium for such things which is an agreeable drawback. Every technology comes with both boon and a bane. I guess we will have to design things in such a way that we are able to track things down or at least keep them under control. But for these reasons, ignoring the technology completely will not be of any help.
When telephones were introduced there were similar problems as well. With that technology people were also able to do smuggling easily. But that doesn't mean that the telephone should have not brought into existence. Look at the advancements telephone has brought to us in our life in the form of technology and communications. Today we are almost like we cannot live a life without telephones or communication devices.
I guess people will somehow understand the importance of this blockchain technology and would be able to appreciate it in the coming years.
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