“Whether it goes up or down in the next year, or five or 10 years, I don’t know.
Even bitcoin enthusiasts tend to regard the cryptocurrency as a passive asset that investors buy and hold and hope to see increase in price over a long period.
For more sophisticated crypto investors, some coins offer a way for them to use their crypto productively — either through lending, or as collateral — to create additional portfolio benefits.
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.
In Western markets it has been established as an investment asset, particularly in the past year as rates and inflation have been on the rise.
You can come up with all kinds of things — we can put up Berkshire coins…
“In my life, I try and avoid things that are stupid and evil and make me look bad in comparison to somebody else – and bitcoin does all three,” Munger said.