Here's How Warren Buffett Might Approach Dogecoin
Dogecoin (CRYPTO: DOGE) is the antithesis of the type of investment that legendary value proponent Warren Buffett tends to make. Chasing the crowd in hype-driven plays with no real fundamental value is the total opposite of his patient, farsighted, and totally grounded approach to buying stocks.
But understanding exactly why Buffett will certainly never buy the king of meme coins is a valuable exercise since it will help you to appreciate the timeless principles that the Oracle of Omaha uses. And besides, there are actually a couple of features that Dogecoin has that Buffett might like a lot. So let's look at how he might think about it.
Buffett doesn't like cryptocurrencies in general. Regarding Bitcoin, he said in 2014: "It is not a durable means of exchange. It's not a store of value." He also went as far as to say that he would never buy any cryptocurrency, and it looks like he intends to keep that promise.
Source Fool.com
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