Altcoins, Bitcoin, Cryptocurrency

The Terminator follows Buffet’s investment principle

The Terminator Hollywood actor and former Governor of California Arnold Schwarzenegger have reiterated that he does not invest in bitcoin or any other cryptocurrencies.

Terminator mentions that he is “like Warren Buffett” because he does not invest in matters he does not have a good grasp on Buffet thinks Bitcoin is “rat poison squared.”

I am not Investing in Bitcoin or any Other Cryptocurrencies.

The Terminator star Arnold Schwarzenegger talked about bitcoin during an interview with the New York Times published Thursday. Regarding bitcoin, the former California governor said:

No, I don’t invest in them. I am like Warren Buffett. I don’t invest in things I don’t understand.

The Berkshire Hathaway CEO has long been a bitcoin critic. He called it “rat poison squared” back in 2018 after his business partner Charlie Munger compared the cryptocurrency to “rat poison” and “turds.”

Buffett is well known for operating within his “circle of competence.” Meaning he does not invest in anything he does not understand.

The terminator follows Warren Buffet's principle

The ‘Oracle of Omaha’

Schwarzenegger has turned to Buffett, sometimes known as the Oracle of Omaha, for advice several times. Buffett became his senior financial and economic advisor during his California governor campaign in 2003. He was in the office until 2011, when he won the special recall election.

Schwarzenegger described Buffett as “the greatest investor ever, my mentor, and my hero.” He also added that “Warren has a common-sense approach to business issues and an integrity that is unmatched. That’s the same way I want to approach governing. Warren always tells it the way it is.” 

Buffett was also one of Schwarzenegger’s consultant when he leads “The New Celebrity Apprentice” in 2016.

Just earlier this month, Buffett and Munger discussed bitcoin at Berkshire Hathaway’s annual shareholder meeting. While Buffett dodged discussing the cryptocurrency straight for the reason that he did not want to agitate investors who long bitcoin, Munger directly stated that, 

“I hate the bitcoin success. The whole damn development is disgusting and contrary to the interest of civilization.”

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