Buffet Is Back On Bashing Bitcoin, Saying It Doesn’t Produce Anything

Warren Buffet is back on bashing Bitcoin, saying that it doesn’t actually produce anything and he would not take all of BTC in the world even if it cost him $25 so let’s read more today in our latest cryptocurrency news.

Warren Buffet is back on bashing BTC and said:

“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?”

warren buffett thinking crypto is worth zero is funny bc he has literally no idea that ethereum just had a customer pay $150M to use the software for 2 hours.

— 𝚂𝚌𝚘𝚝𝚝 𝙻Ξ𝚠𝚒𝚜 🌾 (@scott_lew_is) May 1, 2022

The billioanire investor slammed BTC once again asserting that he will not take all of BTC in the world for just $25 and the 91-year old with a net worth of $124 billion, is a crypto skeptic who once called BTC “rat poison squared” and his arguments often stem around the digital assets that offer no tangible value and the community which has been quick to outline on the occasion that there’s plenty of use cases and utility and crypto and Buffet which isn’t researched. Speaking at the Berkshire Hathaway Annual Shareholder meeting, Buffet commented on crypto and the growing mainstream adoption and noted that while he has no idea if the value of BTC will increase in the future but he is sure that it doesn’t produce anything.

Buffet argued that he will happily write a check for this afternoon worth $25 billion for the 1% of the farmlands or apartment houses in the US because they both produce real-world utility but will not spend $25 for 100% of the supply of BTC:

“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.
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Assets, to have value, have to deliver something to somebody. And there’s only one currency that’s accepted.”

It’s so wild he says this stuff while nakedly shilling diabetes. pic.twitter.com/k4cy20PVpd

— Marc Andreessen (@pmarca) May 1, 2022

The well-known crypto proponents were mocking Buffet’s comments on Twitter and the co-founder of the top crypto venture capital firm Andreessen Horowitz, noted that it is so wild he says this stuff while shilling diabetes in reference to an ensemble of See’s Candies boxes and soda cans on his desk during his speech. Another crypto skeptic that is softening his stance is the JPMorgan CEO, Jamie Dimon. The banker described BTC as a “Fraud” and reiterated that he has no interest in backing the sector on a personal level despite the bank warming up to digital assets over the past few years.