In the last few years, Warren Buffet has been a critic of the virtual currency, dismissing it as worthless and speculative.
The price of the virtual currency went up from around $7,000 at the beginning of 2020 to over $64,000 in November 2021. Since the beginning of the year the currency has plummeted.
This is the first thing. They don't produce anything and have no value. They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that someone else comes along and pays you more money later on, but then that person has the problem. CNBC said in terms of value it was zero.
There are two It's innovative and important but it doesn't have any value. It is possible to stare at it all day and not see anything. CNBC said it was a delusion.
There are three. They aren't going to increase if we buy various cryptocurrencies. There won't be any rabbits in front of us. They're not going to move. If I buy it from you, I'll get more excited and buy it from you. We could run up the price between us by ourselves. At the end of the time, we need to find someone else. CNBC said that they came to an end.
There are four. It is almost certain that cryptocurrencies will end in a bad way. If I could buy a five-year put on every one of the cryptocurrencies, I would be happy to do it, but I would never short a dime.
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There are five. Fox Business had an interview at the meeting.
There are six. Basically, it's a mirage. It's a very effective way of sending money and you can do it without being detected. Money can be transmitted through a check. Is a check worth a lot of money if it can send money? I would like to see it become a better way of doing it, but you can do it a lot of different ways. The idea that it has a lot of value is a joke.
There are seven. It's not a monetary unit. The test of a currency is not met. It won't be around in 10 or 20 years. It is not a store of value. People buy and sell them because they hope they will go up or down like they did with tulip bulbs a long time ago.
There are eight. It's better if people don't understand what's going on if the price goes up. You get more excited if you don't understand it.
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There are nine. Sometimes it will feed on itself for a while and other times it will feed on extraordinary numbers. They come to bad endings and Cryptocurrencies will come to bad endings.
There are ten. "You're going to be better off owning productive assets over the next 50 years than you will be owning pieces of paper or digital currency."
There is a new date for the 11th. I get in trouble with things I think I know. Why should I take a long or short position in something I don't know much about? We don't have to know what cocoa beans are going to do, or what cryptocurrencies are going to do.
A lot of people are trying to create different types of exchanges. People who are less than stellar character see an opportunity to clip people who are trying to get rich because their neighbor's getting rich buying this stuff that neither of them understands. It will end badly.
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13th A fair amount of money has been moved illegally with the help of the digital currency. The move to short suitcases is logical because the money that was taken in suitcases from one country to another is going to be hard to find. CNBC said that the economic contribution of bitcoins to the society can be seen.
The 14th. We don't own any of them. We won't have a position in them.
There are fifteen. I don't own any of the digital currency. I don't own a single coin. Maybe I can create a Warren currency that will only have 21 million of them. It's possible to have it after I die, but you can't do anything with it.
A new date has been added. It happens because people get their hopes up that something like that will change their lives.
ARK Invest has more than doubled in value in 2020. She and her analysts give their outlooks on the economy and other things.
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