Wednesday, February 19, 2020

Warren Buffett Regrets Not Investing in Google; He Could Also be Missing Out on Bitcoin

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Jide Idowu
I am Jide Idowu. A stay-at-home dad and a cryptocurrency enthusiast. I have had my hands on freelance writing for over five years, researching and writing guides, reviews, and latest cryptocurrency news for various blogs and individuals world over.

Warren Buffett, CEO of Berkshire Hathaway regrets not taking the bold step to invest in Google years ago. According to the CEO, he totally blew the opportunity to invest in the search engine giant. Like Google in its early stage, Buffett is also kicking against Bitcoin, the leading cryptocurrency. One can only wonder if he isn’t making the same regrettable mistake today.

Warren Buffett Admits He Blew the Chance to Invest in Google

In a CNBC interview in 2017, Warren Buffett admitted that he had blown a great opportunity to invest in Google. According to him, “I should have got Google.” If the Berkshire Hathaway CEO had invested $500 million in Google in 2013, reportedly, he would’ve amassed almost $2.5 billion this year.

Google, on the other hand, has a market capitalization of over $1 trillion. The search engine giant also has a suite of services spread across different segments of the market. Buffett had knowledge about Google when the company was just at its infancy stage. However, he didn’t give it much thought. He later became very much interested when he realized his company was paying $10 per click for a Geico advert on Google.

It’s great to find something that costs a penny and sells for a dollar and is habit-forming… “This doesn’t cost anything … and it’s very useful,” he said.

Warren Buffett’s Great Dislike for Bitcoin

In the case of Bitcoin, Buffett has time and again made comments to show his great dislike for the asset. Back in February 2019, the CEO remarked that Bitcoin has no unique value, and it is only a delusion.

“If you do something phony by going out and selling yo-yos or something, there’s no money in it — but when you get into Wall Street, there’s huge money,” he added.

The CEO’s comments were not the last of its kind, given that in May 2019, he took it one step further to reveal what he thought of this asset class. According to Buffett, Bitcoin has a lot of crime connected to it and it has led to losses. Also, the cryptocurrency has not produced anything at all.

Justin Sun’s Planned Lunch to Convince Buffett About Bitcoin 

Comments of this nature made Justin Sun, Tron’s CEO to try having lunch with Buffett. The latter was aimed at winning the Bitcoin’s bear over to the crypto space. However, given that a whopping $4.6 million was paid just to have the lunch, it did not hold in the end.

 

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