First Mining Gold Corp (FFMGF)

[Implanting]

Yeah, I thought he could have chosen a better comparison than harvesting baby brains too! I also agree that there maybe a conflict of interest with cryptos and Berkshire that we may not know about. Cryptos are certainly not up his alley, as I think he said they weren't. Buffett and Munger are old school investors that value companies based on REAL earnings and future profits. How can that be done with any of these cryptos? It can't be done. This market is so screwed up most of the companies out there are severely mispriced anyway.

The point he did make that I'm in total agreement with is what is the REAL valuations of these cryptos? If cryptos are to be the new money how is it supposed to be valued and more over how is anyone supposed to afford owning any? I couldn't buy one Bitcoin right now, much less if it continues to climb higher. Most cryptos aren't fungible and if they are it's only for something that costs a lot of money.

If people claim Crytos to be an asset, like any other commodity, then let's see their utility in a big market downturn. I don't think it will do well in a bear market. In fact, I think the only reason we're seeing the move in the cryptos, Tesla stock, Rohinhood, Reddit, and general stock market froth is because of all the trillions being flooded into the System. We're in a time in history when EVERYTHING is worth more than what it should be. I believe that's going to revert back to a time when we see just the opposite. High valuations will be placed on REAL assets again, not intangibles.

IMO this is largely speculation and will go away very quickly when the next bust/crash comes.