Warren Buffett Says He Wouldn’t Buy All the Bitcoin in the World for $25 – Futurism

Why'd he switch up now?Simon Says

Warren Buffett is one of the worlds wealthiest people and the CEO of Berkshire Hathaway, one of the largest and richest holding companies in the world. Youd think his financial advice would resonate with a lot folks, but his latest remarks on cryptocurrency arent likely to inspire much love among its fans.

A new CNBCinterview published Saturday painted Warren as solidly anti-Bitcoin. The investor said he couldnt be bothered to invest in the asset,even if it was offered to him for next to nothing.

If you told me you own all of the bitcoin in the world and you offered it to me for $25 I wouldnt take it because what would I do with it? Buffett told the news outlet. Id have to sell it back to you one way or another. It isnt going to do anything. The apartments are going to produce rent and the farms are going to produce food.

Warren has been outspoken about his dislike for Bitcoin in the past, but that doesnt seem to be stopping NFT and crypto users from pouring their hard-earned cash into an asset class with an uncertain future and which somewhat regularly sees excruciatingly large losses.

Interestingly, Buffetts latest remarks dont quite match up with his own investment history. Back in June of 2021, he invested $500 million of Berkshire Hathaways cash into a Bitcoin-friendly bank.

Thats a lot of money for anybody to throw at an investment with the remotest chance of backfiring what happened to change Buffetts mind in the last year, and why arent other investors paying attention?

More on cryptocurrency: Bored Apes New Drop Was So Popular It Crashed the Entire Ethereum Blockchain

Read more here:
Warren Buffett Says He Wouldn't Buy All the Bitcoin in the World for $25 - Futurism