No, I don’t invest in them. I am like Warren Buffett. I don’t invest in things I don’t understand. “Terminator” star Arnold Schwarzenegger talked about bitcoin during an interview with the New York Times published Thursday. Regarding bitcoin, the former California governor said:
The Berkshire Hathaway CEO has long been a bitcoin critic. He called it “rat poison squared” back in 2018 after his business partner Charlie Munger compared the cryptocurrency to “rat poison” and “turds.” Early this month, Buffett and Munger commented about bitcoin at Berkshire Hathaway’s annual shareholder meeting. While Buffett avoided commenting on the cryptocurrency directly because he did not want to upset investors who long bitcoin, Munger bluntly said, “I hate the bitcoin success.” He added, “The whole damn development is disgusting and contrary to the interest of civilization.”
The Hollywood actor previously described Buffett as “the greatest investor ever, my mentor, and my hero,” adding that “Warren has a common-sense approach to business issues and an integrity that is unmatched. That’s the same way I want to approach governing. Warren always tells it the way it is.” Buffett was also one of Schwarzenegger’s advisors when he hosted “The New Celebrity Apprentice” in 2016. Do you think Schwarzenegger should follow Buffett’s strategy and stay away from bitcoin? Let us know in the comments section below.
Schwarzenegger has turned to Buffett, sometimes known as the Oracle of Omaha, for advice several times over the years. When he campaigned for California governor in 2003, Buffett became his senior financial and economic advisor. Schwarzenegger won the special recall election and was in office until 2011. Buffett is well known for operating within his “circle of competence,” meaning he does not invest in anything he does not understand.
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