Stay away, if you want to live? Former governor of California Arnold Schwarzenegger has revealed that he does not invest in Bitcoin or any other cryptocurrencies.
He says that he is like Buffett in that he does not invest in things he does not understand.
The Terminator star talked about Bitcoin during an interview with the New York Times, published Thursday, where he commented on investment strategy. The Hollywood actor said it straight that he keeps away from Bitcoin:
“No, I don’t invest in them. I am like Warren Buffett. I don’t invest in things I don’t understand.”
The Warren Buffett strategy, then.
The Berkshire Hathaway CEO has long been a critic of Bitcoin, calling it rat poison squared back in 2018 after his business partner Charlie Munger compared the cryptocurrency to rat poison and turns.
Both gentlemen were also in the news a few days back, expressing similar viewpoints at Berkshire Hathaway’s annual shareholder meeting. While Buffett avoided commenting on the cryptocurrency directly so as not to upset investors who long Bitcoin, Munger said he hates the Bitcoin success.
Also known as the Oracle of Omaha, Buffett is well known for operating within what he calls his circle of competence, meaning he does not invest in anything he does not understand.
Schwarzenegger has previously described Buffett as the greatest investor ever, my mentor, and my hero, adding that Warren has common sense approach to business issues and an integrity that is unmatched.
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