Warren Buffet, who declared that “It will be a bad end” for Bitcoin in 2018 and stated that his company Berkshire Hathaway will never invest in Bitcoin or crypto money, added a new one to these outputs. This statement of Buffet, who called it “worthless” by saying that “he will not give even $ 25 to all Bitcoins in the world”, may affect the behavior of crypto money investors, the number of which reaches tens of millions.
Speaking at the annual shareholder meeting of Berkshire Hathaway, the world’s second-largest conglomerate, Buffet said that Bitcoin is “something magical, and people act in a way that is fascinated.”
“I don’t know if it may rise or fall in the next year or 5 to 10 years. But one thing I am sure of is that (Bitcoin) does not produce anything.”
“Now if you tell me you own all the Bitcoins in the world and you ask for $25 in return, I won’t give it. Because what am I going to do with them when I get them? I have to sell it to you or someone else. It doesn’t do any good.”
Buffet compared Bitcoin to real estate and farmland:
“Apartments produce rent, farms produce food. For assets to have value, they must give something in return. There is only one accepted currency. You can come up with all kinds of things—we can even issue Berkshire coins”
Buffet took the $20 bill out of his pocket and showed it, adding: “There is no reason in the world for the US government to exchange any currency for it (pointing to the $20 in its hand). ”
These statements of Buffet show his and his company’s approach to Bitcoin and why they will not invest.
Despite all these words, Buffet is also indirectly invested in Bitcoin and crypto money:
Nubank, the Brazil-based and Latin America’s largest financial technology focused bank, Bitcoin trading provides service. Buffet is among the investors of this bank.
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