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hello everybody this is not a crypto expert chiming in with another video and in today's video I wanted to play a response to what Warren Buffett said about cryptocurrency from another billionaire but before I get into the topic of discussion for today I would like to ask that you please consider giving me I like giving me a heart giving me a thumbs up give me a follow a subscribe hitting that post build notification I'm not gonna ask you to share because it seems invasive on my channel I talk about cryptocurrency and blockchain technology I try to keep it entertaining with a beat in the background so onto the topic of conversation for today which is a video from CNBC squat box and this is part of a longer interview from Xiamen Paulo Hypatia and he is a is a chairman of Virgin Galactic and founder of investment firm social capital he's a billionaire a younger guy so he's kind of like the the anti Warren Buffett someone that actually sees the future someone that's made his money in 20 20th century inventions and you know he's used the power of the Internet so I wanted to play a little bit of what he said on squash Boxey he doesn't this entire clip is not about Warren Buffett as far as what Warren Buffett said a few days ago on squak Bob but I'm gonna go ahead and play that now for you does that ever become a an actual means of transacting yeah it does still everything I said crypto am I allowed to say crypto I hope I do a lot of it though can I bring it up I would really like Bloomberg to take this cart achill that I wrote for them into 2013 out of their pay wall but basically you know my view at the time which I've held since today I've been changed is that everybody should probably have 1% of their assets in Bitcoin specifically I still believe that today and I think it is just a fantastic hedge so if you go back to the conversation this morning when you see the amount of leverage the financial industry is running and you think about all these dislocations and all these exhaustion as things that are happening that you can't predict there's a lot of risk to the downside and it will be great that an an average individual citizen of any country in the world has an uncorrelated hedge and I've said this repeatedly at nauseam on the show every financial instrument is correlated but money but except bit but tomorrow and uncorrelated head to hit that Warren Buffett says has zero value 0 in here III unless someone pays more I think he's an exceptional person I've learned an enormous amount both from afar and the few interactions I've had with him he is completely wrong and out rated on student the price have gone up during this class a few issues Haven went down like gold if it was really digital gold I think that you have to look more at volumes these are not necessarily event-driven strategies meaning you don't you don't want all the digital gold no you didn't say that no he didn't that's the that's the that's the people say I don't think goodbye I don't think when you know you wake up and you see a coronavirus care in the Dow down mm you should not be going in and buying Bitcoin that is an idiotic strategy I think a reasonable strategy is to say one percent of my net worth should be in something that is completely uncorrelated to the world and how the world works you quietly and quick you know over some number at a time accumulate a position and then you just never look at it again and hope that that insurance under the mattress never has to come due right but if it does it will protect you because then that thing will be hundreds of thousands or million dollars a coin you I hope that you enjoyed that video if you would like to watch the full video it is on CNBC television and it's appears the title watch the NBC's full interview with venture capitalist shaman Paula Hypatia and I'm it's if you want to know just a little bit about who he is he's a venture capitalist and the founder and CEO of social capital Paula Hypatia was an early senior executive at Facebook joining the company in 2017 and leaving in 2011 he's a minority stake holder and board member of the Golden State warrior seme warriors this is just a search on DuckDuckGo so I wanted to play the contrast you know the old style of thinking versus the new style of thinking they're both extremely affluent wealthy men however when it comes to blockchain and cryptocurrency I'm gonna err on listening to the side of the younger guy that actually gets it versus the old guy that doesn't understand it so with that being said folks don't forget to hit that like button that heart button that thumbs up button that follow the subscribe that post bill notification I'm not gonna ask you to share because it seems invasive and I hope that you are having a great morning a great afternoon and an even better evening
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