When Bitcoin went from worthless to a “high” above $100,

Buffett says: Bitcoin is rat poison.

The reporter then asked him if Bitcoin had increased from over 100 US dollars to over 9,000 US dollars. What do you think about this?

Buffett replied: “Probably rat poison squared.”

At Berkshire Buffett's shareholder meeting, the stock god once again expressed his unfavorable attitude towards Bitcoin: “The end result of cryptocurrencies will be very bad, because they have not created any value yet. relating to this property".

The value of assets like cryptocurrencies depends on more people entering the market and then holders selling to recipients at a higher price than the purchase price.

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

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

"That's gambling. That's not investing."

“We would never buy cryptocurrency, even things I think I know a little about give me enough trouble, why would I buy something I don't understand?”

“Stay away from Bitcoin it is basically just an illusion, a way to move money.

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

Before Bitcoin was born, Buffett's stance on gold was never to invest. He believes that gold has two important flaws.

First of all, as a non-productive asset, gold has no “productive capacity”. This means that gold itself cannot be turned into more gold, nor can it be turned into any other value. Therefore, Buffett's usual investment method is to acquire oil fields that can produce oil, acquire factories that can produce products, and invest in stocks that can generate dividends.

“But if you buy an ounce of gold, it will still be an ounce of gold hundreds of years later.”

Bitcoin price hit an all-time high of $75,830 this year and is currently at $64,000

Around this time, the God of Wealth apparently heard that Buffett had invested in Bitcoin. I don't know if Buffett regrets what he said before, but it was a slap in the face. What do you think?

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