Warren Buffet won’t pay $25 for all the existing bitcoins in the world | Here is the reason why
Warren Buffet won’t pay $25 for all the existing bitcoins in the world
Bitcoin and Warren Buffett: A multibillionaire investor In the past, Warren Buffett has also openly attacked Bitcoin. However, this time he declared cryptocurrency worthless even from apartments and farmer’s fields.
The famously skeptical billionaire has stated that he will not pay even $25 for bitcoins anywhere in the world. Warren Buffett reportedly noted that bitcoin is unproductive and does not generate anything, according to a CNBC article.
Bitcoin doesn’t produce anything
If you claim to own all bitcoins and offer to sell them to me for $25, I will decline your offer, he stated. What about me? It won’t do anything, therefore I have to convince you to buy it. It will either go up or down in the upcoming year, five years, or 10 years, according to Warren Buffett. But I already well understand that it has no effect.
According to Warren Buffett, there is magic in it and people see enchantment in various things. He added, “I’ll write you a check right immediately if you say grant our organization $25 billion for a 1% investment in farms across America.
Buffett said, “I will give you the cheque again if you provide another $25 billion for a one percent investment in all apartments in the country. The flat will be rented out, and farmers will grow food on the fields, but what will bitcoin produce? he asked.
Bitcoin is a Rat Poison: Warren Buffet
Bitcoin experienced its worst month of the year, a 17 percent decline in April, according to statistics made public by CoinMarketCap. The projected $1.74 trillion market capitalization of all cryptocurrencies includes 42.15 percent of bitcoin.
He has already expressed his disapproval of bitcoin. He has previously claimed that investing in bitcoin won’t provide profitable results. Additionally, he has likened it to rat poison.