Warren Buffett Solidifies His Thoughts on Cryptocurrency
Warren Buffet, on February 24, noted again in strong terms how much he dislikes cryptocurrency.
During CNBC’s Squawk Box interview, Warren reiterated that he does not think cryptos have any value, nor does he see any produce from crypto assets. Warren Buffet said the value of crypto is zero.
He publicly announced that he does not own a single cryptocurrency, and he will never have it. His remarks came in an interview after he released the annual shareholder letter.
It’s true that Buffet has for long been criticizing Bitcoin. For instance, in 2018, just before the Berkshire Hathaway annual shareholder meeting, he said that Bitcoin is probably, ‘rat poison squared.’ Warren described this asset using descriptive items like a “mirage,” “tulips,” and “not a currency,” based on the Warren Buffett Archive on CNBC.
Another icon, Berkshire Hathaway’s Charlie Munger, noted that Bitcoin is a turd, adding that cryptocurrencies are “just dementia.”
In an attempt to change Buffe’s mind, Justin Stun, Tron‘s founder, bid $4.6 million in a charity auction to get a meal with the Bitcoin critique.
Afterward, Warren Buffett laid comments about the whole dinner with Justin Sun, stating that Justin and his friends behaved well and they had a long three and a half hour dinner and exchanged ideas.
However, after the dinner, Buffet noted that both he and Sun kept their stance on the coin.