Cryptopotato’s accordingBuffett says at the Annual Meeting that (translated) “Whether it goes up or down in the next year, or five or 10 years, I don’t know. But one thing I’m pretty sure about is that it’s something Doesn’t even produce.”
Comparing bitcoin (BTC) with other alternatives, Buffett said that bitcoin is not a productive asset, such as farms and apartments that produce food and rent. As a result, he will not invest in it, even though all the bitcoins in the world are available to him for $25.
He said that “even if you told me you owned all the bitcoins in the world and you sold me them for $25, I still wouldn’t take them, because then what would I do with them? I’ll have to give it back to you one way or another.” Gotta sell. It’s not going to do anything.”
Buffett has criticized bitcoin before. They believe that there is a kind of magic in cryptocurrencies and people always associate magic with many things. He said that something should be considered an asset only if that thing gives you back the value, but this is not the case with bitcoin.
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