Warren Buffet says he wouldn't even pay $25 for every Bitcoin ever
Warren Buffet has taken aim at cryptocurrency's biggest player, Bitcoin, saying he wouldn't even pay $25 for all the Bitcoin.
Famed investor Warren Buffet has taken another shot at the world's most popular cryptocurrency, Bitcoin.
The 91-year-old investor spoke with Charlie Munger, another famed investor that has openly spoken out about his distaste for Bitcoin, at Berkshire Hathaway's annual shareholder meeting on Saturday. Buffet said that even if all of the Bitcoin on the planet was offered to him at a price of $25 dollars, he wouldn't buy it. The same sentiments were echoed by Munger, who described the cryptocurrency as "stupid", "evil," and something that causes its owners to "look bad".
Buffet explained that he won't get involved in Bitcoin because the cryptocurrency doesn't produce anything, and its value is purely determined by someone willing to purchase the cryptocurrency at a higher price. Furthermore, Buffet said that instead of purchasing Bitcoin, he would prefer to invest in the US's farmland or housing in the form of apartments. Both Buffet and Munger have previously voiced their distaste for Bitcoin, with Munger even describing the cryptocurrency as a "venereal disease".
Read more: Famous billionaire investor says Bitcoin is 'going to zero'
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