Elon Musk Weighs in as Warren Buffet Wouldn't Pay $25 for Every Bitcoin
The 91-year-old billionaire doesn’t see crypto as a “productive asset,” adding that he wouldn’t buy all the Bitcoin in the world even for $25.
Warren Buffett has again criticized Bitcoin, making the case that it’s only the dollar that has intrinsic value, according to a CNBC report.
“Whether [Bitcoin] goes up or down in the next year, or five or ten years, I don’t know. But the one thing I’m pretty sure of is that it doesn’t produce anything,”
Buffet said at the Berkshire Hathaway annual shareholder meeting.
The billionaire, who has previously called Bitcoin a “delusion” and “rat poison squared,” also stated that even the most lucrative offer wouldn’t convince him to invest in crypto.
“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. It isn’t going to do anything,” said Buffet.
Marc Andreessen of investment firm a16z tweeted the clip, adding, "it's so wild he says this stuff while nakedly shilling diabetes."
Tesla and SpaceX chief Elon Musk responded: "Haha he says Bitcoin so many times."
The leading cryptocurrency appears to have responded positively amid the news and is trading at about $38,900 on Monday morning, up 2.3% over the past 24 hours, per CoinMarketCap.
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