Bitcoin is the ‘Elephant-Sized’ Investment Warren Buffett Should Make

Wes Messamore
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It's time for Warren Buffett to take an honest look at Bitcoin. | Source: REUTERS / Kevin Lamarque / File Photo
It's time for Warren Buffett to take an honest look at Bitcoin. | Source: REUTERS / Kevin Lamarque / File Photo

By CCN.com: You could say Warren Buffett is loaded for bear. The “Oracle of Omaha” says he’d like to make permanent investments in U.S. companies with decent long term prospects, but not while the U.S. stock market is so overpriced. Maybe he should buy Bitcoin instead.

Buffett Pines for ‘Elephant-Sized’ Acquisition

In his 2019 annual letter to Berkshire shareholders, Buffett wrote:

“In the years ahead, we hope to move much of our excess liquidity into businesses that Berkshire will permanently own. The immediate prospects for that, however, are not good: Prices are sky-high for businesses possessing decent long-term prospects.”

Buffett added that he and long-tenured Berkshire Vice Chairman Charlie Munger “continue, nevertheless, to hope for an elephant-sized acquisition.”

“Even at our ages of 88 and 95 — I’m the young one — that prospect is what causes my heart and Charlie’s to beat faster. (Just writing about the possibility of a huge purchase has caused my pulse rate to soar.)”

Oh, God.

Would you just listen to the way Warren Buffett talks about investing? His description of anticipating a big asset purchase is so earnestly and frankly sensual. He is hilarious.

Read the full story on CCN.com.

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