Use the Buffett Rule When Investing in the Growing Cryptocurrency Market
“Price is what you pay. Value is what you get.”
-Warren Buffett
Warren Buffett is the most famous value investor, and has decades of success in investing. Warren Buffett has also famously cautioned investors to avoid Bitcoin and cryptocurrency, while implying it is a suckers game.
Right now, the cryprocurrency market has been swinging wildly. Cryptocurrency volatility is part of the game, and it's a rollercoaster. The cryptocurrency marketcap has nearly tripled this year, and Bitcoin itself is up 200%. Currently, the cryptocurrency marketcap stands at $340 billion and is less than half of what it was during the cryprocurrency market bubble of Q4 2017. There is deep value locked in digital assets and huge value opportunities.
Warren Buffett has cautioned investors to avoid Bitcoin due to its "non productive" nature and the fact that it requires the "greater fool" to buy the Bitcoin for more than what you paid for it. What is ignored is that many coins including Bitcoin have companies and projects that support them. Ripple, Cardano, OmiseGo, Ethereum and Binance Coin are all examples of cryptocurrencies with developing and often thriving underpinning companies.
Currently, there is deep value in the altcoin landscape. Coins including Ripple's XRP, EOS and STEEM still have room to run and have a existing projects that are getting off the ground. Ethereum has tripled this year, and with a marketcap second only to Bitcoin and a thriving Dapp ecosystem looks attractive under $400. Now is the time to capture value. Buffett will buy Bitcoin one day like be bought silver.
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Originally published in my Weku account I own at:
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Picture from Pixabay.
https://www.ruleoneinvesting.com/blog/how-to-invest/warren-buffett-quotes-on-investing-success/amp/
