Binance's CEO says he and Warren Buffett use a similar investment strategy, but doubts that Buffett has skills to keep crypto - news
Binance's CEO says he and Warren Buffett use a similar investment strategy, but doubts that Buffett has skills to keep crypto - news
The CEO of the cryptocurrency exchange Binance says that he and Warren Buffett, CEO of Berkshire Hathaway, share a similar investment strategy. However, he said that he would not convince Omaha's oracle to invest in cryptocurrency. "I am worried when he uses crypto. He may not have the necessary skills or the knowledge of how he can safely keep his own crypto," emphasized the CEO from Binance.
CEO from Binance about Warren Buffett and Crypto Investing
Binance CEO Changpeng Zhao (CZ) spoke on Yahoo Finance on the CEO of Berkshire Hathaway, Warren Buffett and cryptocurrency investments on Wednesday.
Zhao recently praised Buffett's investment skills after reading a book about him entitled "Warren Buffett: Inside the Ultimate Money Mind". The book offers "a deep analysis of buffets of essential wisdom, a complicated mosaic of far -reaching ideas and insights that Buffett calls a sense of money", as it says in its description.
The bony boss was asked whether he was sitting with Buffett in a room what he would tell the oracle of Omaha about why he should invest in crypto. Zhao replied:
I would not convince him to invest in crypto. I think it is not necessary that everyone has to invest in crypto.
"My mother does not use the Internet so often and that's okay. The internet is fine. My mother is doing well," the Binance manager continued. "I think it's basically a free world. We don't have to convince everyone to use crypto. It is only for the people who want to use crypto."
he explained that he read the book about Buffett because he read many investment books. "I just stumbled across it recently, and it is actually a great book," emphasized Zhao, adding that the oracle of Omaha "contains many timeless investment reading. And that still applies to crypto. He is only not interested in crypto."
In addition, the Bony manager believes that he and Buffett have similar investment strategies. As mentioned in the book, he explained that Buffett is not an investor who likes to diversify his portfolio. Zhao described:
He likes to keep a small number of shares that he knows well. And he doesn't want to diversify hundreds of stocks. It is very similar to my personal mentality. I only hold bnb and btc . I don't diversify myself about different crypto assets.
"Because of his non-diversification, he is not interested in Bitcoin or Krypto. That is okay. We don't have to convince him," emphasized Zhao.
"He is not missing money. He is in a different phase of life in which I think that the knowledge, philosophies and teachings are valuable to the world," added the Bony manager. The CEO of Berkshire Hathaway "is super successful, what I respect very much," he added, noting that it was not necessary to bring it to crypto.
In fact, Zhao said he was worried if Buffett started to use crypto and explained:
I'm worried when he uses crypto. He may not have the necessary skills or the knowledge of how he can safely store his own crypto.
Buffett was a loud critic of Bitcoin and cryptocurrency. He called btc "rat poison in the quadrat" in 2018. He also called The cryptocurrency gambling, a game and no investment. His right hand, Charlie munger said " disagree and in contradiction to the interests of civilization "at the annual meeting of Berkshire in May.
ZHAO was also asked about his recent discussion on Twitter with the Tesla CEO sounds dodgy . "
"Well, I don't intend to be cheeky on Twitter," said the Binance boss and emphasized that Musk was "wrong" and "lack of research". He continued: "I am not naturally aggressive, but I am also not submissive or cowardly when it comes to defending our business. I see it as my job to defend and defend Binance BNB and the crypto industry as my life's work. "
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