Arnold Schwarzenegger, a Hollywood movie star and former Governor of California, has spoken out against cryptocurrency and crypto investment.
In a recent interview with the New York Times, the Terminator actor said he did not own bitcoin, dogecoin, or any other cryptocurrency and compared himself to Warren Buffet.
Arnold Schwarzenegger, a close ally of Warren Buffet, has said that he, like the billionaire, does not invest in anything he does not understand. Berkshire Hathaway CEO Warren Buffet believes bitcoin is rat poison multiplied by two.
“I don’t invest in them. I am like Warren Buffett. I don’t invest in things I don’t understand.”he said in the interview with New York Times.
Buffett is renowned for operating inside his “radius of competence,” which means he doesn’t put his money into assets he doesn’t understand. The investor has consistently slammed Bitcoin, describing it as “rat poison squared” and a meaningless delusion, and has confirmed that he would never own cryptocurrency.
Buffet and Arnold Schwarzenegger have long been close friends, with the actor seeking advice from the billionaire on several occasions. When running for governor in 2003, Arnold named the billionaire as his senior financial and economic advisor.
Philosophy and crypto are being aligned by Arnold Schwarzenegger and Warren Buffet
Arnold and Warren share a similar philanthropic ethic. “Easy in, easy out!” This philosophy permeates many other aspects of their lives, one of which is their disdain for cryptocurrencies.
The Hollywood actor previously identified Buffett as
“the greatest investor ever, my mentor, and my hero,”
Warren also has unrivaled honesty and a common-sense approach to market concerns.
Buffet mentioned Bitcoin at Berkshire Hathaway’s annual shareholder meeting a few weeks ago. Although Buffett avoided explicitly commenting on cryptocurrency because he did not want to offend investors who were long Bitcoin, Munger said unequivocally,
“I hate the Bitcoin success.”