Don't Ask Charlie and Warren About Bitcoin!

As long as Berkshire doesn't buy Bitcoin, opportunities are endless

May 7, 2021

Hey DEFI TIMES community,

Last weekend, the Berkshire Hathaway annual shareholder meeting took place. Both Warren Buffet and Charlie Munger gave interesting insights into their investing strategy. And of course, the reporters asked them about Bitcoin.

At first, Warren didn’t want to answer but Charlie Munger couldn’t hold himself. He said:

Of course, I hate the bitcoin success and I don’t welcome a currency that’s useful to kidnappers and extortionists, and so forth. Nor do I like just shuffling out of extra billions and billions and billions of dollars to somebody who just invented a new financial product out of thin air. So, I think I should say modestly that I think the whole damn development is disgusting and contrary to the interests of civilization. And I'll leave the criticism to others.

You can interpret this quote as you like but here are two things I want to comment:

Charlie Munger is 97 years old; he made his fortune by investing in cash-flow producing assets, and literally has no experience with technology. Who do you think understands Bitcoin better: a digital native or someone who missed Amazon, Facebook, and the internet era in general? Charlie Munger doesn’t understand Bitcoin - and why should you ask Munger about anything he has no expertise in? Just because he made a fortune does not mean his opinion on Bitcoin is valuable.

Warren Buffet and Charlie Munger both embraced rational investing their whole lives. But it seems like Charlie’s emotions are quite strong: “ I hate the bitcoin success.” Hate is not something a rational investor should feel. That means Charlie is quite biased and it’s unlikely that he will ever change his opinion on Bitcoin.

One thing is clear though: as long as Charlie is bearish on Bitcoin… the opportunities are endless!

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Uniswap v3 is live!

Uniswap Labs 🦄 @Uniswap

1/ 🦄 We are thrilled to announce that Uniswap v3 is now live on Ethereum mainnet! app.uniswap.org has been updated to support v3. uniswap.org/blog/launch-un…

UniswapUniswap V3, the third iteration of the Uniswap protocol, has been deployed to the Ethereum mainnet!uniswap.org

Uniswap v3 went live on Wednesday and the launch went super smooth. Look how capital efficient it is:

Hayden Adams 🦄 @haydenzadams

🤯 Only $21m in USDC/USDT and you can currently sell $13m USDT for USDC with only 0.25% slippage 🦄 lmao @Uniswap v3 is wild

Hayden Adams 🦄 @haydenzadams

🔥 The $15m in @Uniswap v3 USDC/ETH is currently offering better prices on $200,000 trades than the $430m in v2 USDC/ETH 🥵 Also check out that depth chart THIS IS WHAT CAPITAL EFFICIENCY LOOKS LIKE https://t.co/qW6eAW2E3l

Loopring Smart Wallet

Loopring @loopringorg

We are thrilled to announce that the Loopring Smart Wallet is now officially available for download on iOS ✨ ✅ Social Recovery w/ Guardian management ✅ No having to risk losing pass-phrases ✅ Sleep well at night w/ daily limits + whitelist addresses Welcome to the future ✨

Loopring’s ETH smart wallet is live, which is very similar to Argent. It supports native zkRollup-based trading.

GEL token and Gelato DAO

Gelato @gelatonetwork

Today, we're excited to announce the upcoming Gelato token! $𝗚𝗘𝗟 will serve as the central focal point that ensures dapp devs, executor bot operators & the core protocol devs all work & grow together & make Gelato more robust in the future. Read more: link.medium.com/vAQR7HPD2fb

Gelato, a protocol for automated smart contract executions on Ethereum, has announced the $GEL token. Check it out!

Mark Cuban

Decrypt @decryptmedia

"Ethereum has greater long term value [than Bitcoin], period, end of story," says billionaire investor @mcuban. And if another crypto winter comes, BTC is at greater risk, he says decrypt.co/70034/mark-cub…

Mark Cuban thinks Ethereum will flippen Bitcoin in the long term. Let’s see if he’s right…

BanklessDAO

Bankless DAO @banklessDAO

Announcing Bankless DAO 🏴 The revolution will not be banked. medium.com/bankless-dao/a…

Announcing Bankless DAO 🏴The bankless movement is now larger than any single entity, newsletter, podcast, or person to contain. It needs an internet scale organization to achieve its goals. Bankless DAO is a decentralized…medium.com

The Bankless DAO was announced on Tuesday. Bankless nation citizens received an airdrop based on their activity (Badge/BAP0 holders, …). Another airdrop is scheduled soon.

So, stay tuned!

CNBC Bullish on ETH

CNBC @CNBC

.@garrytan: Ethereum is headed to $10K. "I'm really excited about where that is going because it is programmable money." $ETH @CNBCTechCheck cnb.cx/3nKZF4G

CNBC is starting to report positively about ETH!

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DISCLAIMER: All information presented above is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This article's content solely reflects the opinion of the writer, who is not a financial advisor.

Do your own research before you purchase cryptocurrencies. Any cryptocurrency can go down in value. Holding cryptocurrencies is risky.