We don’t need to convince Buffett to invest in crypto, says Binance CEO. Changpeng Zhao, the founder and CEO of Binance. Believes it’s perfectly fine if rich investors such as Warren Buffett. Don’t get involved in the cryptocurrency market because it’s not for everyone.
Zhao, on the other hand, believes that the CEO of Berkshire Hathaway. Would be wise not to become involved.
“I couldn’t persuade him to put his money into cryptocurrency.” In an interview with Yahoo Finance Live. Zhao stated, “I do not believe that everyone should invest in cryptocurrency.” “It’s fine with me that my mother doesn’t use the internet very much. The internet is working properly. My mother is in good health. So, in general, I believe that we live in a free world. We don’t have to persuade everyone to use crypto; it’s just for those who want to use crypto.” “Crypto is only for those who want to use crypto.”
When Zhao finished reading “Warren Buffett: Inside the Ultimate Money Mind.” A book about the Oracle of Omaha, he was impressed with his investment abilities.
“I only recently came across it, and it’s actually a really good book,” he said of the novel. “Buffett has a number of investment theses that are ageless,” says the billionaire investor. And this is still true in the case of cryptocurrency. Simply put, he is not personally interested in cryptocurrencies,” says the author.
Despite the fact that Buffett isn’t particularly enthusiastic about cryptocurrency. Zhao believes the two men have comparable investment strategies. We Don’t Need to Convince Buffett.
“He prefers to invest in a small number of stocks that he is familiar with.” And he is not interested in diversifying across hundreds of different stocks.
Later in his life, I believe the learnings, philosophies
Buffett, he continued, is a great businessman “is at a different stage in his life. And I believe that the lessons he has learned. The philosophies he has developed, and the teachings. He has imparted to the world are valuable. He has achieved tremendous success, which I greatly admire. We don’t have to entice him into the crypto world. Somebody made use of a flip phone, which was popular a couple of years ago. I’m concerned that if he uses cryptocurrency, he may not have the requisite skills or understanding. On how to keep his own cryptocurrency safe and secure.”
Buffett has been a prominent opponent of cryptocurrency, referring to it memorably. As “rat poison” in a 2018 interview. At Berkshire’s annual meeting earlier this year. Buffett’s right-hand man Charlie Munger referred to bitcoin as “disgusting. And antithetical to the interests of society,” according to Reuters.
Even as Zhao complimented Buffett’s investment prowess. He had harsher words to say about another member of the billionaire club: Bill Gates.
“I’m not going to be sarcastic on Twitter, for starters… In his tweet, he claimed that I am a sleazy character. And We Don’t Need to Convince Buffett. “When questioned about a recent Twitter exchange with Tesla CEO Elon Musk. Zhao responded positively on Yahoo Finance Live.
The cryptocurrency exchange Binance temporarily halted dogecoin withdrawals on November 11. Due to a malfunction that occurred during a network update. Musk, a long-time supporter of dogecoin, said in a tweet early Tuesday morning.
Zhao, who was also there, said “I am not naturally confrontational. But I am also not subservient or cowardly. When it comes to defending our company’s interests. I consider defending Binance to be my work. And defending the cryptocurrency industry to be my life’s goal.”