Buffett Is Once Again Criticizing Bitcoin Claiming That It Will Not Really Produce Anything

Buffett said that he would gladly write a check this afternoon worth $25 billion for 1% of all farmland or apartment houses in the United States because both provide real-world use, but he wouldn’t even spend $25 for 100% of Bitcoin supply.

With total assets of generally $124 billion, the 91-year-old is a crypto cynic who apparently alluded to Bitcoin as rodent poison squared. His contentions every now and again rotate around advanced resources having no money-related worth.

Buffett discussed crypto in relation to the growing mainstream adoption of the industry during the Berkshire Hathaway Annual Shareholder Meeting on Saturday. He stated that while he has no idea whether the value of BTC would rise in the future, he is certain that it produces nothing.

I wouldn’t take it if you told me you owned all of the Bitcoin in the world and offered it to me for $25 because what would I do with it? According to Warren Buffett. Warren Buffett, the billionaire investor, has blasted Bitcoin (BTC), claiming that he wouldn’t take all of the BTC in the world for merely $25.

Rat Poison Squared

With total assets of generally $124 billion, the 91-year-old is a crypto doubter who supposedly alluded to Bitcoin as rodent poison squared. His arguments frequently revolve around digital assets having no monetary worth, and the crypto community has been quick to point out that there are a plethora of use cases and utilities in crypto that Buffett is unlikely to have investigated.

Buffett discussed crypto in relation to the growing mainstream adoption of the industry during the Berkshire Hathaway Annual Shareholder Meeting on Saturday. He stated that while he has no idea whether the value of BTC would rise in the future, he is certain that it produces nothing.

Buffett said that he would gladly write a check this afternoon worth $25 billion for 1% of all farmland or apartment houses in the United States because both provide real-world use, but he wouldn’t even spend $25 for 100% of Bitcoin supply:

I wouldn’t take it if you told me you had all of the Bitcoin in the world and offered it to me for $25 because I wouldn’t know what to do with it. In any case, I’d have to sell it back to you. It’s not going to make a difference. The flats will generate rent, while the farms will generate food.

Assets must deliver something to someone in order to be valuable. And there’s only one accepted currency, he continued.

Over the weekend, prominent crypto supporters mocked Buffett’s remarks on Twitter. It’s so strange he says this stuff while nakedly shilling diabetes, Marc Andreessen, co-founder of top crypto venture capital firm Andreessen Horowitz (a16z), said, referring to an ensemble of See’s Candies boxes and Coke cans on Buffett’s desk during the speech.

Jamie Dimon Delivers A Small Respect To Cryptocurrency

Haha he says ‘Bitcoin’ so often, Tesla CEO and Twitter proprietor Elon Musk said. Everyone can’t stop talking about Bitcoin, MicroStrategy CEO Michael Saylor added. JPMorgan CEO Jamie Dimon is one crypto skeptic who is at least changing his stance a little. Despite JP Morgan’s major warming to digital assets over the last couple of years, the banker originally characterized Bitcoin as fraud and has repeatedly stated that he has no personal interest in backing the sector.

While he still doesn’t like crypto and advises care when investing in it, Dimon told Omaha-based news channel KMTV 3 on Friday that he will protect your right to do it. He went on to say that crypto can be useful in certain situations, particularly when it comes to cross-border payments: Not everything is horrible. If you told me you wanted to send $200 to a buddy in another nation, it would take two weeks and cost $40. You could do it in a matter of seconds using digital money.

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing