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- 91-year-old Billionaire does not see cryptocurrency as a productive asset, adding that, he would never pay even $25 for all the Bitcoin on the planet.
- Warren Buffett doesn’t even care regarding its price going upwards, and thinks it does not generate anything.
- SpaceX and Tesla CEO Elon Musk reacted to Warren Buffett’s statement, stating that the oldie said Bitcoin several times.
Oldie Believing In Old School
Warren Buffett has again come to light after he criticized Bitcoin, creating the case that the crowned asset has no intrinsic value.
Buffett stated that, whether BTC will go higher or lower during the upcoming year or 5 or 10 years, it doesn’t matter to him. He added, he is quite sure regarding one thing that it does not generate anything.
The billionaire investor, who claimed Bitcoin was a delusion and rat poison squared furthermore said that nothing in the world can make him acquire Bitcoin.
Buffett said that if anyone told him or offered to take possession of every Bitcoin for $25, he still wouldn’t take it, as he doesn’t know what to do with it. He stated this during Berkshire Hathaway’s yearly stockholders’ meeting.
A16z’s Marc Andreessen tweeted that, it is so wild he states this thing while nakedly shilling diabetes.
This Makes Elon Musk “Happy”
SpaceX and Tesla’s CEO reacted to this by stating that, HAHA, he said Bitcoin several times.
The crowned crypto-asset seems to have reacted optimistically amidst the news and is trading at $38,546 at the time of this writing.
Berkshire and Bitcoin
Discovered back in 1839, Berkshire Hathaway is a conglomerate based in America with more than $330 Billion in assets under management.
The organization’s top holdings involve Coca-Cola, American Express, Bank of America, and Apple. The previous year also acquired Activision Blizzard stocks worth $1 Billion and recently escalated its positions in video game mammoth to around 9.5% of its shares.
Buffett’s business partner also contributed some harsh words for Bitcoin.
He said, he tries to evade stuff that is evil, and stupid and doesn’t make him look bad in contrast to somebody else, and Bitcoin does all 3.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
