Warren Buffet is no doubt one of the world’s most successful investors. He also happens to be a vocal critique of cryptocurrencies. Recently, he is has termed bitcoin as ‘rat poison squared.’ However, even with all his success, it may not be a good idea to take his advice on cryptocurrencies. Here are 3 reasons why his advice on cryptos might be counterproductive to your long-term growth.

The global economy is changing

Warren Buffet has always maintained that he doesn’t invest in tech companies. However, if you look at the global economy, it is clear that tech is restructuring how the global economy works. The kinds of companies that you would invest in by following Buffet’s perspective are being displaced by technology corporations. We have seen Uber disrupt what was otherwise considered a stable industry (the tax hailing industry). We have also seen a company like Amazon use technology to disrupt the entire retail industry.

Amazon has killed globally renowned retail giants, to become a near monopoly in retail. Blockchain technologies and cryptocurrencies are on the verge of disrupting the banking sector. We recently saw a $99 million transaction get sent in Litecoin, at a cost of $0.40 and in about 2 and half minutes. No bank in existence today can match that. The point here is that the global economy is changing and what made people like Warren Buffet wealthy might no longer work in the new economy. Entire industries are being killed by start-up tech companies. As such, by listening to people like Buffet, you might get left behind as digital economy redefines how wealth is made.

Resource: Click here.

To know more about cryptocurrency trading strategy and signals free chat Join: http://t.me/whaleagent