- Arnold Schwarzenegger speaks down on crypto
- Arnold and Warren Buffet aligning philosophy on crypto
Hollywood movie star and former Governor of California Arnold Schwarzenegger has spoken down on cryptocurrencies or crypto investment.
Arnold Schwarzenegger, who is known to be a close ally to Warren Buffet, says that he does not invest in things he does not understand, just like the billionaire. The CEO of Berkshire Hathaway thinks bitcoin is “rat poison squared.”
“I don’t invest in them,” he said in the interview with New York Times. “I am like Warren Buffett. I don’t invest in things I don’t understand.”
Buffett famously operates within his “circle of competence,” meaning he doesn’t risk his money on assets he can’t get his head around. The investor has repeatedly criticized Bitcoin, calling it “rat poison squared” and a worthless delusion, and has ruled out ever owning crypto.
Buffet and Arnold Schwarzenegger have been good friends for long with the movie actor, turning to the billionaire several times for advice over the years. While Arnold campaigned for governor’s office in 2003, he named the billionaire his senior financial and economic advisor.
Arnold Schwarzenegger, Warren buffent aligning philosophy against crypto
Both Arnold and Warren have the aligning philosophy on philanthropy. “Easy come, easy go!” This philosophy extends to many other things, one of which fuels their dislike for cryptocurrencies.
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 unmatched integrity.
Weeks back, Buffet 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.”