The CEO of Binance, a cryptocurrency exchange, stated that he and Berkshire Hathaway CEO Warren Buffett have similar investment strategies. However, he stated that he would not persuade Oracle of Omaha to invest in cryptocurrencies. “If he uses cryptocurrency, I will be very worried. He may not have the necessary skills or knowledge to ensure the security of his cryptocurrency,” Binance CEO emphasized.
Binance CEO Warren Buffett and crypto investments
Binance CEO Changpeng Zhao (CZ) talked about the cryptocurrency investments of Berkshire Hathaway CEO Warren Buffett and Yahoo Finance on Wednesday.
Zhao recently praised Buffett’s investment skills after reading a book about him, “Warren Buffett: The Ultimate Money Mind.” According to its description, the book provides “an in-depth analysis of Buffett’s basic wisdom, which Buffett calls an intricate mosaic of the broad thoughts and insights of the money mind”.
The owner of Binance was asked if he was sitting in a room with Buffett, and he would tell Oracle of Omaha why he should invest in cryptocurrency. Zhao replied:
I will not persuade him to invest in cryptocurrency. I don’t think it is necessary for everyone to invest in encryption.
“My mother doesn’t use the Internet much, which is good. The Internet is good. My mother is good,” the Binance executive continued. “I think this is basically a free world. We don’t have to convince everyone to use encryption. It is only for people who want to use cryptocurrency.”
He explained that he read Buffett’s book because he read a lot of investment books. “I recently stumbled upon it, and it’s actually a great book,” Zhao emphasized, adding that Omaha’s Oracle “has many eternal investment papers. This still applies to encryption. It’s just his personal opinion on encryption.” Currency is not interested.”
In addition, Binance executives believe that he and Buffett have similar investment strategies. He explained that, as pointed out in the book, Buffett is not an investor who likes to diversify his investment portfolio. Zhao description:
He likes to hold a small amount of stocks he is familiar with. And he doesn’t want to diversify investments in hundreds of stocks. This is very similar to my personal mentality.I only hold Bitcoin with Bitcoin. I will not spread myself among different crypto assets.
“Because of his non-diversification, he doesn’t like Bitcoin or cryptocurrencies. It doesn’t matter. We don’t need to convince him,” Zhao emphasized.
“He is not short of money. He is at a different stage of his life, and I think his knowledge, philosophy and teachings are valuable to the world,” Binance executives added. The CEO of Berkshire Hathaway was “very successful and I respect it very much,” he added, noting that there is no need for him to enter the crypto space.
In fact, Zhao said that if Buffett started using cryptocurrency, he would be worried. He said:
If he uses cryptocurrency, I will be very worried. He may not have the necessary skills or knowledge to ensure the security of his cryptocurrency.
Buffett has always been an outspoken critic of Bitcoin and cryptocurrencies.He said Bitcoin In 2018, “Raticide Square”.he still Call Cryptocurrency gambling is a game, not an investment. His right-hand man, Charlie Munger, Saying that Bitcoin is “disgusting Going against the interests of civilization”, at Berkshire’s annual meeting in May.
Zhao was also asked about his recent discussions with the Tesla CEO on Twitter Elon Musk Regarding Binance’s Dogecoin issue. Musk, a supporter of the meme cryptocurrency Dogecoin, said on Twitter on Tuesday morning that Binance’s problem “Sounds gloomy. “
“Well, I’m not going to be fashionable on Twitter,” Binance’s boss explained, emphasizing that Musk was “incorrect” and “lack of research.”He continued: “I’m not aggressive by nature, but when defending our business, I’m also not obedient or cowardly. I regard defending Binance as my job and defend Bitcoin And the encryption industry is my life’s mission. “
Do you agree with Binance CEO Changpeng Zhao regarding Warren Buffett and cryptocurrency? Please let us know in the comments section below.
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