Tech investor: Warren Buffet is wrong about Bitcoin

According to Warren Buffet about Bitcoin earlier this week, tech investor Chamath Palihapitiya spoke out in defense of the crypto currency. Although he claims to be a buffet „student“, he expressed that Warren Buffet was wrong about Bitcoin.

Palihapitiya: „Not everyone is always right.“
In an interview with CNBC’s Squawk Box, the former Facebook employee who stood up for Bitcoin’s virtues spoke with refreshing insights. Warren Buffet’s competence did not necessarily extend to knowledge of cutting-edge technologies such as crypto currencies.

Many other Bitcoin Code supporters

Palihapitiya spoke in relation to Buffet’s appearance on the same CNBC segment. Instead of taking the anti-bitcoin position of Warren Buffet and Bill Gates, the self-proclaimed „Buffet – Schüler“ spoke of the necessity of digital assets in a world after the financial crash:


Ethereum Code could not only function

Since 2012 he has been a crypto investor and, like many other Bitcoin supporters, saw this as a safeguard against the „traditional financial infrastructure“. Palihapitiya recalled the 2008 financial crash, which directly related to the importance of Bitcoin as an asset class. He said that almost every market collapsed, even those that were considered safe. Bitcoin could not only function as an alternative solution, but will also increase in value in a financial crisis, as many are looking for an alternative safe investment option.


First Facebook, then Tech – Investor
Chamath Palihapitiya worked at Facebook for over four years. During his time in the social network, he held many management positions. Born in Sri Lanka, the venture capitalist began his career as an investor during his time at Facebook and continued to support projects that offer a platform for innovative technologies after his departure.

The technology venture capitalist is not the only person who contradicts the one-page CNBC interview on Monday. Tyler Winklevoss also spoke via Twitter, criticizing Bill Gates for his daring statement about Bitcoin’s shorts. The Microsoft founder and multi-billionaire claimed in the interview that if there was a way to shorten Bitcoin, he would do just that. According to this statement, Tyler Winklevoss pointed out that there is a way to shorten Bitcoin. After reminding him of the Cboe’s Bitcoin futures contracts, he called on Gates to put his words into action.