first_imgForget Bitcoin! I’m following Warren Buffett’s advice to get rich Simply click below to discover how you can take advantage of this. Our 6 ‘Best Buys Now’ Shares Bitcoin has posted some fantastic investment returns this year. However, when it comes to investing for the long term to build wealth, I’d much rather follow billionaire investor Warren Buffett’s advice than buy the cryptocurrency.Warren Buffett vs BitcoinBitcoin is a strange asset. Its supporters believe it will transform the world, becoming a global currency that can’t be manipulated by governments. On the other hand, its critics think the cryptocurrency is a safe haven for crooks and can be easily manipulated.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Whatever camp one sits in, there’s a clear drawback with Bitcoin. It is highly volatile. The price of the cryptocurrency has gyrated widely this year, and it’s challenging to predict how much one coin will be worth from one day to the next.As such, Bitcoin is only really worth as much as two parties are willing to pay at any one point in time, and that’s a big issue for investors, particularly long-term investors.Buffett’s investment strategy has always been based on the idea of buying and holding profitable businesses. His track record of success stands testament to the fact that this strategy works exceptionally well. What’s more, buying productive, cash generative businesses gives investors a backup.There will always be a fundamental business behind the stock price. So, even if the price falls 50%, that doesn’t necessarily mean the company is worth 50% less. The same cannot be said for Bitcoin as the price of the cryptocurrency is determined by supply and demand.Investing for the long termWarren Buffett’s strategy makes it easier to invest for the long term. Buying high-quality businesses is a sensible strategy, no matter what. It’s also easier to hold on to these stocks through periods of economic uncertainty.For example, earlier this year, in the March stock market crash, shares in some high-quality FTSE 100 businesses fell 50%. However, their underlying operations have emerged from 2020 in a stronger position. Investors who held the shares through the market storm have been well rewarded.Investing is a marathon, not a sprint. It’s possible to make large, quick profits, but staying wealthy requires a good strategy and patience. It’s much easier to stick with companies with strong underlying fundamental businesses than volatile financial assets like Bitcoin in the long run.That’s why I’d rather follow Warren Buffett’s advice and buy high-quality businesses than own Bitcoin to get rich. That’s not to say an investor should avoid Bitcoin entirely. It may fit into some portfolios.However, I’m more comfortable owning pieces of real businesses I know and use every day. I think that’s a much more sustainable investment strategy that can stand the test of time. It has certainly worked incredibly well for Warren Buffett in the past. The high-calibre small-cap stock flying under the City’s radar Rupert Hargreaves | Sunday, 27th December, 2020 Rupert Hargreaves has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Image source: Getty Images center_img Click here to claim your copy of this special investment report — and we’ll tell you the name of this Top Small-Cap Stock… free of charge! Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. See all posts by Rupert Hargreaves I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. 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