Warren Buffett shares his views on bitcoin being a bubble.
Breaking News: If you think private equity is a, or I’m sorry venture capital is potentially a place where you see bubbles.
Charlie: Bitcoin and the other cryptocurrencies are also bubbles.
Breaking News: And what tells you that? I mean I’m just thinking of the Millennials, the young investors who get so excited about something like this. What would you tell them, what would your message be?
Charlie: Well they’re excited because things are going up at the moment and it sounds vaguely modern and I’m sure the computer science involved is difficult and interesting. So you can understand where they get excited but I’m not excited. I prefer just to hold my nose and go on somewhere else.
Warren: If you’re buying something because it went up yesterday or last week that is not a good reason for buying anything. It will get you in trouble over time.
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