Why We Shouldn't Listen To Warren Buffet: Expert Take

In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice.

There has been a time when a saying was popular on Wall Street: "When Warren Buffet speaks, you listen." Now Wall Street is better not to listen, if they do not want to become history faster than Kodak or Blockbuster.

The media are going mad reporting the latest senseless rants from Warren Buffet, Munger and Bill Gates, just to name the last few.

The usual barrage of senseless observations, wrong assumptions, popular, but wrong and ignorant distinctions between "The technology behind Bitcoin" - which is good and everyone on the Street loves it - and the rest which is obviously very bad or just plain insults to the whole crypto community - as if instead Wall Street is populated only by honourable gentlemen and philanthropists.

Shall the crypto community start trading insults with them? Shall we respond?

The last time that Warren Buffet made very serious money has been with the financial crisis in 2007-2008.

Buffet told the above to CNBC after investing $5 bln in Goldman Sachs.

There are few in Wall Street who can represent more egregiously today's crony capitalism than Warren Buffet.

So the message here is not for the Buffets´ of this world, it is for the crypto community of young and bright technologists and entrepreneurs.

Rea Bianconi is an international business Lawyer with over two decades experience, a scholar of Austrian Economics, monetary history and geopolitics, a believer in the future of Bitcoin and Blockchain based technologies, a trader with interest in commodities, precious metals, currencies, Tech stocks and Cryptos.