Warren Buffet was speaking at the Berkshire Hathaway Annual Shareholder meeting, saying that Bitcoin was not a productive asset and did not generate any tangible value.
“Whether it goes up or down in the next year, or five or 10 years, I don’t know.
“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.
Besides Buffet, Charlie Munger, another billionaire investor, has also dismissed Bitcoin, saying that the world’s largest currency lacked any value.
Warren Buffet’s act of dismissing Bitcoin and the entire crypto sector caught the community’s attention.