Buffett's evasive attitude towards Bitcoin

When Bitcoin climbed from obscurity to a "high" of more than $100, Buffett's evaluation of it was: Bitcoin is like rat poison. Later, when a reporter mentioned that Bitcoin had soared to more than $9,000, Buffett responded: "This may be rat poison squared."

At the Berkshire Buffett shareholders meeting, the stock god reiterated his pessimism about Bitcoin: "The final outcome of cryptocurrencies will be terrible because they do not generate any value related to the assets themselves." He pointed out that the value of such assets depends entirely on the influx of new investors so that holders can sell them to buyers at a higher price.

In an interview with Yahoo Finance, Buffett bluntly stated that buying cryptocurrencies is speculation rather than investment. "That's right. If you are willing to take a gamble and expect someone to be willing to pay a higher price to buy it tomorrow, then this is a gamble. But it's not an investment," he emphasized.

"We will never buy cryptocurrencies. Even the things I think I understand have caused me enough trouble, why would I buy something I don't understand at all?" Buffett said. He further warned: "Stay away from Bitcoin. It is basically just an illusion, a way to transfer money. The idea that Bitcoin has great intrinsic value is a joke to me." It is worth mentioning that Buffett also has the same attitude of not investing in gold. He believes that gold, as a non-productive asset, has no "production capacity", that is, gold itself cannot produce more gold or create other value. Buffett prefers to invest in assets that can produce actual output, such as oil fields, factories and stocks. However, there are rumors that Buffett has invested in Bitcoin, especially when the price of Bitcoin reached an all-time high of $75,830 and is currently hovering around $65,500. People have different opinions on this rumor. But in any case, Buffett's clear attitude towards Bitcoin in the past was: no investment and critical attitude. #HMSTR开盘 #美国二季度核心PCE符合预期 #币安上线CATI #SUI网络TVL创历史新高