Warren Buffett doubts the value of bitcoin again
- May 2, 2022
- 0
Prominent billionaire investor Warren Buffett said he would refuse to buy all bitcoins for $25 because he did not see the value in it. He writes about CNBC.
Prominent billionaire investor Warren Buffett said he would refuse to buy all bitcoins for $25 because he did not see the value in it. He writes about CNBC.
“What was I going to do with them? One way or another, I’d have to sell them back to you. It won’t do anything. Apartments would generate rent and farms would produce food. Entities must produce something. There is only one approved currency, — explained a well-known bitcoin skeptic.
As a smarter alternative, the investor cited $25 billion purchases of all US farmland or apartment buildings that provide “real value.”
Buffett is known for his negative attitude towards bitcoin. In February 2020, he named his first cryptocurrency a “full zero” with no value. Earlier, the billionaire predicted the collapse of the crypto industry. He used terms like “rat poison squared” and “illusion without unique value” when talking about Bitcoin.
In response to the latest revelations, many in the crypto community advised the head of Berkshire Hathaway to better understand the issue and examine current use cases.
Elon Musk found it funny how many times Buffett mentioned Bitcoin in his speech.
Haha it says “Bitcoin” many times
— Elon Musk (@elonmusk) May 1, 2022
On the eve of the annual meeting with Berkshire Hathaway shareholders, JPMorgan chairman Jamie Dimon, another bitcoin skeptic, partially softened his position on the first cryptocurrency. In October 2021, a senior executive described digital gold as “worthless” but later acknowledged the value in blockchain technology and DeFi.
In a recent interview, the CEO stated that he still does not like cryptocurrency and should be careful when investing. At the same time, Dimon emphasized that digital assets can help with cross-border payments.
“If you say ‘I want to send $200 abroad’ to me, it could take two weeks and cost you $40. You can do it with digital currency and it will take a few seconds.”explained.
Recall that Buffett, Dimon, and BlackRock CEO Larry Fink are on the list of bitcoin’s main enemies compiled by PayPal co-founder Peter Thiel.
Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
