Warren Buffett, the CEO of Berkshire Hathaway, has restated his opposition to Bitcoin, claiming that it lacks inherent value and thus cannot be invested in.

Buffett rationalized Bitcoin's lack of physical value while speaking at the Berkshire Hathaway Annual Shareholder Meeting, citing how sectors like agriculture and real estate, unlike Bitcoin, offer more tangible rewards. He emphasized that despite being paid the lowest price for all of the Bitcoin, he would likely sell it back due to the asset's lack of utility.
<blockquote><em> “Now if you told me you own all of the bitcoin in the world and you offered it to me for $25 I wouldn’t take it because what would I do with it? I’d have to sell it back to you one way or another. It isn’t going to do anything. The apartments are going to produce rent and the farms are going to produce food,”</em> said Buffett.</blockquote>
https://twitter.com/pmarca/status/1520655019866959873?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1520655019866959873%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Ffinbold.com%2Fwarren-buffett-i-wouldnt-buy-all-bitcoin-in-the-world-for-25-it-has-no-value%2F

Furthermore, Buffett seems to cast doubt on Bitcoin's origins as the work of a single person, Satoshi Nakamoto, who has remained anonymous. Despite the fact that Bitcoin is becoming more widely accepted as a form of payment, Buffett believes that the dollar will always be the actual money.
<h2><strong>Buffett’s Strong Bitcoin Opposition</strong></h2>
Buffett has maintained a critical stance toward Bitcoin throughout the years, referring to the top-ranked digital currency as "rat poison" at one time. Buffett's assistant Charlie Munger, on the other hand, called Bitcoin "dumb" and said its "evil" characteristics make America look terrible.

I Wouldn’t Buy All Bitcoin in the World For $25, It Has No Value: Warren Buffett

Warren Buffett, the CEO of Berkshire Hathaway, has restated his opposition to Bitcoin, claiming that it lacks inherent value and thus cannot be invested in.

Prabhjeet Bhatla is a cryptocurrency writer covering startups and a researcher since 2020. She has authored many articles for Entrepreneur India and APAC (digital and print) on cryptocurrency and ever-evolving Blockchain, the technology behind Bitcoin, and other cryptocurrencies. She specializes in applied cryptography, privacy-enhanced information storage systems, anonymous cryptocurrencies, elliptic curve crypto-systems, and satellite television piracy.

I Wouldn’t Buy All Bitcoin in the World For $25, It Has No Value: Warren Buffett

Top Picks