According to a tweet from Chinese Bitcoin Outlet, it stated that Andrew Y. Yan, founder and managing partner of SAIF Partners has been keeping a wealthy inventory of Bitcoin since 2015. SAIF Partners have an impressive holding of almost 6 billion Yuan and around $4Billion in funds provided by multiple investors.
Andrew on Bitcoin and Warren Buffet
Andrew has said that the trading of Bitcoin requires funds, proper knowledge and experience in the crypto industry as it is not so easy to manage. Regarding this point, Andrew said that Bitcoin should only be in the hands of investors who are already rich and have the proper experience to handle such a complex asset. Andrew also explained about why he doesn’t promote Bitcoin and encourage others to trade it. According to his own tweet, Andrew said that trading Bitcoin needs people who are ‘faithful’. Dealing with Bitcoin since 2015, Andrew’s words definitely do have meaning attached to them. Having a firm grip on his Bitcoin holdings, Andrew states that Bitcoin is an asset which has more worth than Gold.
In regards to Buffet’s negative views about Bitcoin, Andrew said in simple words that Warren Buffet hates Bitcoin because he doesn’t have the knowledge on how to deal with it. Warren Buffet has been on the crypto hate train for quite a long time now and has deemed it as ‘rat poison squared’.
Warren’s confusing motives
Warren Buffet’s recent investments have caused some confusion in the community. His recent investment of $500Million into Brazilian Digital Bank Nubank has become controversial, because Nubank has just obtained a company named Easynet, which is a brokerage company that has plans to provide its users the ability to put investments into Bitcoin ETFs. Some community members have said that Warren Buffet is only pretending to talk trash about Bitcoin, meanwhile others believe that Warren might be having a change of heart. According to some reports, Warren Buffet still owns the smartphone with Bitcoin and TRX that Justin Sun gave to him.
Despite all this, Warren continues to bash Bitcoin, which has confused many as his intentions have become unclear to the community.