On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Former Governor of California Arnold Schwarzenegger has confirmed that he does not invest in bitcoin or any other cryptocurrencies. He says that he is “like Warren Buffett” in that he does not invest in things he does not understand. The CEO of Berkshire Hathaway thinks bitcoin is “rat poison squared.”
Arnold Schwarzenegger Not Investing in Bitcoin or any Other Cryptocurrencies
“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.
Schwarzenegger has turned to Buffett, sometimes known as the Oracle of Omaha, for advice several times over the years. When he campaigned for California governor in 2003, Buffett became his senior financial and economic advisor. Schwarzenegger won the special recall election and was in office until 2011.
The Hollywood actor previously described Buffett as “the greatest investor ever, my mentor, and my hero,” adding 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 advisors when he hosted “The New Celebrity Apprentice” in 2016.
Early this month, Buffett and Munger commented about bitcoin at Berkshire Hathaway’s annual shareholder meeting. While Buffett avoided commenting on the cryptocurrency directly because he did not want to upset investors who long bitcoin, Munger bluntly said, “I hate the bitcoin success.” He added, “The whole damn development is disgusting and contrary to the interest of civilization.”
Do you think Schwarzenegger should follow Buffett’s strategy and stay away from bitcoin? Let us know in the comments section below.
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