#加密价值投资 #bitcoin☀️





Buffett believes that the main reason for buying Bitcoin is to sell it at a high price, while Munger believes that Bitcoin is a pile of shit. Although I respect their contributions to stocks, company acquisitions, and value investing, I dare not agree with their views. Here is a brief analysis of the problems with their views. The anchor point of value investing in stocks lies in the company's profits and assets, and the anchor point of value investing in commodities lies in the supply and demand relationship. Using the perspective of stocks to analyze commodities, such as gold, of course you will come to Buffett's conclusion. He said that if you buy an ounce of gold, no matter how you caress it or appreciate it, it will still be an ounce of gold after more than 10 years. Therefore, Buffett believes that gold and Bitcoin have no intrinsic value and are not worth investing in stocks. From the perspective of the market, of course there is no problem, but the intrinsic value of commodities lies in the imbalance of supply and demand in specific scenarios. For example, if a large-scale war occurs, then gold is hard currency. The so-called antiques in prosperous times and gold in troubled times are a consensus worldwide. Of course, gold in troubled times is one of the intrinsic values ​​of gold. Secondly, in order to solve the employment problem, the modern economy will adopt moderate monetary inflation to stimulate the economy, so the currency must be over-issued. This is the reality and essence of the modern economic ecology. Therefore, the over-issued currency also needs to enter the gold, Bitcoin, and stock market to gamble and spin. Otherwise, the price of daily necessities will be hyperinflated. This is the second intrinsic value of gold and Bitcoin, which is the bargaining chip for gambling and spinning. Simply put, the intrinsic value of commodities depends on the imbalance of supply and demand.