Warren Buffett, who has always been against Bitcoin and, in general, against cryptocurrencies, has once again reiterated his position in a recent annual meeting of shareholders of Berkshire Hathaway, a company that he runs himself. The popular investor has assured that I wouldn’t buy “all the Bitcoin in the world” even for $25 because I wouldn’t know what to do with it.
Buffet was responding to a question about his views on Bitcoin or crypto and whether this had recently changed. The tycoon, who just a few months ago said that cryptocurrencies are “basically worthless,” began by saying that if everyone in that room “owned all the farmland in the United States, and they offered him a 1% stake for $25 billion, I’d write a check,” and that it would do the same for “every apartment in America,” but not for all the bitcoin in the world.
“If… you owned all the bitcoin in the world and you offered it to me for $25, I wouldn’t take it,” Buffett said. “Because what would I do with it? I’ll have to get it back one way or another. He is not going to do anything,” Warren Buffett stressed.
Buffet gave the example of investing in farmland or property as a way to generate “productive assets”. “The apartments are going to produce rent and the farms are going to produce food,” he said. He also assured that Bitcoin “does not multiply, it does not produce anything.”
Warren Buffett has a very different stance on Bitcoin than Elon Musk
Warren Buffett’s opinion on Bitcoin is far from that of other billionaire entrepreneurs, such as Elon Musk. The CEO of Tesla and SpaceX, in fact, has been shown on multiple occasions in favor of this cryptocurrency Y has recently confirmed still have both Bitcoin and Ethereum or Dogecoin in his possession, and that he has no intention of selling them.
The creator of Dogecoin, however, has a more similar stance to the CEO of Berkshire Hathaway. Jackson Palmer tweeted last June that cryptocurrencies are a “hyper-capitalist” technology and that it is designed to make the rich get richer. “The cryptocurrency industry leverages a web of shady business connections, bought influencers, and pay-per-play means to perpetuate a cult “get-rich-quick” funnel designed to extract new money from the naive and financially desperate,” he stated in one of your posts.