Hollywood movie actor and former California Governor Arnold Schwarzenegger has confirmed that he does not invest in bitcoin or any other cryptocurrencies because he studied under Warren Buffett, not in things he does not understand.
Schwarzenegger has long turned to Buffett for advice. While campaigning for California governor in 2003, he hired Buffett as his senior financial and economic advisor. This is believed to be the reason why Schwarzenegger won the election and was in office until 2011.
The Hollywood actor has previously described Buffett as "the greatest investor ever, my mentor and hero". He also added: "Warren has a conventional approach to business issues and integrity that is second to none. That's the same way I want to approach management."
Earlier this month, Buffett and finance expert Charlie Munger commented on bitcoin at Berkshire Hathaway's annual shareholder meeting. While Buffett avoids commenting directly on the cryptocurrency for not wanting to disturb longtime bitcoin investors, Munger bluntly said: "I hate the success of bitcoin . "
"This whole damn development is disgusting and goes against the interests of civilization," he added.
According to Wealthygorilla statistics , Arnold Schwarzenegger owns a net worth of 400 million USD at the age of 73. Income accumulated through decades of acting, trading, and investing in real estate of the Austrian star.
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