Buffett accuses against bitcoin: it is "a slot machine"

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The octogenarian guru of Wall Street, Warren Buffett, owner of the investment conglomerate Berkshire Hathaway, who reported benefits of $ 21.661 million this Saturday In the first quarter of the year, it met yesterday with its shareholders eager to hear their opinions.

However, to these cumbersome Berkshire results, compared to the losses obtained in the same period last year, he stole his publication date, which is that The company celebrates its annual meeting in Omaha (Nebraska, USA) this weekend that has become famous with the passing of the year.s, up to being nicknamed "Woodstock of the capitalists". At the meeting, Buffett harshly charged the bitcoin critpomoneda, which was described as a "slot machine".

Sitting next to the company's vice president, Charlie Munger, 95, Buffet, 88, was offering his opinions on various subjects, according to the shareholders present, who came from tens of thousands, who were asking him.

One thing he wanted to clarify, that He is a capitalist, "so you don't have to worry about being able to change in this matter".

Buffet has always been more favorable to the policies of the Democratic Party (less conservative than the Republican, to which President Donald Trump belongs), and even to supporting the democratic candidate Hillary Clinton in the 2016 elections.

On the other hand, Munger assured that in the United States it "does not enter into socialism either in the (elections of) 2020 neither in 2040 nor in 2060".

Buffet, whose main investments are distributed among the companies Apple, Bank of America, Wells Fargo, Cocacola, American Express, US Bankcorp and JPMorgan, accused its intervention against the financial entity Wells Fargo, which was shaken by a scam in which he supported the creation of accounts without permission to his customers.

"If a bank reaches the point where it needs help from a government, the responsible executive director must lose the spouse's net worth ". Buffet to applause, before pointing out that, in those situations, it is the shareholders who pay.

On the other hand, the vice president of Berkshire Hathaway assured this Saturday that his company would be less aggressive when it comes to buying back shares in the company itself.

Buffet, whose company has a fund of 110,000 million dollars to invest, ensures that the purchase of its shares is not influenced by the amount of money they have to invest.

"When we buy back our shares, we want to make sure that people who haven't sold their shares will be better", insured buffet.

Attack on bitcoins

The investment guru also criticized the cryptocurrency's bitcoin (virtual currency), which it qualified as a "gaming machine".

"It is a slot machine, there have been many scams connected to it, there have been disappearances, so there is a lot of loss, Bitcoin has produced nothing" feel the tycoon, which is not the first time you criticize this currency.

However, I recognized the value of the bitchain-linked blockchain technology, although I pointed out that "the blockchain is very large and does not need bitcoins".

however, I returned to defend the bet made by one of its investors in Amazon, the Internet sales giant, which yesterday rose 3% on the stock market, after knowing that his company had invested in the company.

On the other hand, the so-called Omaha orchestra pointed out that 18 months ago the opportunity to invest in Uber, the transport company that started on Monday at Wall Street Exchange, and aimed to discard it, according to CNBC Channel.

In addition to this question and answer session, broadcast live with Chinese translation, the meeting has this year with almost two hectares of exhibitor positions from their companies, ranging from food to jewelry to vehicles, which means an opportunity to see, try and buy, as well as create contacts.

. (tagsToTranslate) news (t) company (t) buffett (t) upload (t) versus (t) bitcoin

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