• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Bitcoin
Nexo

No Bitcoin Please: Warren Buffett Says He Won’t Pay Even $25 For All The Bitcoins In The World

Jet Encila by Jet Encila
3 weeks ago
in Bitcoin, Crypto News
0

Bitcoin is not for everybody.

Berkshire Hathaway CEO Warren Buffett, who previously lamented about not knowing where to invest his money, claimed cryptocurrencies are not a productive asset and that he would not acquire the entire Bitcoin in the market even at a price of $25.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

While Bitcoin is steadily infiltrating established financial institutions and converting naysayers, not everyone supports the world’s largest cryptocurrency by market capitalization.

The crypto is currently trading at $38,803, up 1.95 percent in the previous 24 hours, according to CoinMarketCap data.

Suggested Reading | DeGods DAO Buys $625,000 Basketball Team In Ice Cube’s Big3 League

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

For Buffet, Bitcoin Is Just Useless

On Saturday, during the company’s annual shareholder meeting, famed American billionaire finance specialist Buffett said that the crypto has a number of flaws and that he does not believe the cryptocurrency has any intrinsic value.

For his part, the 91-year old Buffet’s long-time business colleague and right-hand man, Charlie Munger, calls the crypto “stupid and evil,” adding that it makes him “look horrible.”

Even if he purchased cryptocurrencies, the “Oracle of Omaha” said he would have to sell them back to a willing bidder to recoup his investment.

BTC total market cap at $735.46 billion on the daily chart | Source: TradingView.com

He Doesn’t Know What To Do With Bitcoin

“If you told me you had every Bitcoin in the world and sold it to me for $25, I would decline because I have no idea what I would do with it. I’d have to sell it back to you somehow. It will accomplish nothing,” Buffett told CNBC.

When compared to other investment possibilities, the well-known American investor stated that Bitcoin is not a productive asset like real estate or agricultural land that generates food and income.

Suggested Reading | VR Metaverse Sculptor Believes NFTs Can ‘Democratize’ Imagination

The ‘Oracle Of Omaha’ Calls It ‘Rat Poison’

Buffet, who is famous for stating that BTC is “probably rat poison squared,” outlined in detail why he would not purchase Bitcoin:

“I’m not sure whether it will increase or decrease in the next year, five or 10 years. However, one thing I am fairly certain of is that it does not create anything… It possesses a magical quality, and many things have been endowed with magical properties.”

To be considered an asset, something must provide value to someone, which Bitcoin does not, Buffet explained.

Additionally, the billionaire emphasized that the world’s most popular cryptocurrency cannot be used as a means of payment in the United States, as the federal government will not permit any virtual currency to supplant the US dollar.

Featured image from Barron’s, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jet Encila

Jet Encila

Freelance writing is Jet's other cup of tea. When not on his computer, he unwinds with a cold bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

Bitcoin

Bitcoin Pizza Day: Celebrating The $300-Million Pizza Order – And Other Fun Facts

15 hours ago
Cyprus

Cyprus Drafts Regulatory Framework For Cryptocurrencies

17 hours ago
Central Bankers, El Salvador flag

It Was Not A Bitcoin Event. Then, Why Were The Central Bankers In El Salvador?

1 day ago
UnicornDAO

UnicornDAO Rallies For Women And LGBTQ Artists; Raises $4.5 Million 

2 days ago
Microstrategy

MicroStrategy Stock Rallies 10% As CEO Saylor Predicts Bitcoin Will ‘Go Into The Millions’

2 days ago
CoinCorner's the Bolt Card, promotional image

The UK Goes Lightning: CoinCorner Offers The Bolt Card, Contactless BTC Payments

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.