Why doesn't Buffett invest in Bitcoin?

When Bitcoin went from worthless to a "high" of more than $100,

Buffett said: Bitcoin is rat poison.

Later, a reporter asked him, what do you think of Bitcoin rising from more than $100 to more than $9,000?

Buffett replied: "It may be rat poison squared."

At the Berkshire Buffett shareholders meeting, the stock god once again expressed his pessimistic attitude towards Bitcoin: "The final result of cryptocurrency will be very bad because they do not generate any value related to this asset."

The value of assets such as cryptocurrency depends on more people entering the market, and then the holders sell them to the receivers at a higher price than the purchase price.

In an interview with Yahoo Finance, Buffett pointed out that buying cryptocurrency is not investment but speculation.

"There's nothing wrong with that. If you want to take a gamble, someone will come tomorrow and be willing to pay more."

"That's a form of gambling. It's not an investment."

"We will never buy cryptocurrencies. Even the things I think I know a little about have caused me enough trouble. Why would I buy something I don't understand?"

"Stay away from Bitcoin. It's basically just an illusion and a way to transfer money.

The idea that Bitcoin has huge intrinsic value is a joke to me."

Before Bitcoin came out, Buffett's attitude towards gold was never to invest. He believed that gold had two major flaws.

First, as a non-productive asset, gold has no "production capacity." This means that gold itself cannot turn into more gold, nor can it turn into any other value. So Buffett's usual means of investment is to acquire oil fields, which can produce oil, acquire factories, which can manufacture products, and invest in stocks, which can generate dividends.

"But if you buy an ounce of gold, it will still be an ounce of gold after hundreds of years."

This year, the price of Bitcoin reached an all-time high of $75,830, and is currently around $64,000. The God of Wealth seems to have heard that Buffett has already invested in Bitcoin. I don't know if Buffett will regret what he said before, but he has already been slapped in the face. What do you think?

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