Home Finance Warren Buffett gives his most expansive explanation for why he doesn’t believe in Bitcoin

Warren Buffett gives his most expansive explanation for why he doesn’t believe in Bitcoin

by Enochadmin

Warren Buffett and Charlie Munger press convention on the Berkshire Hathaway Annual Shareholders Assembly, April 30, 2022.

CNBC

Bitcoin has steadily been gaining acceptance from the standard finance and funding world lately however Warren Buffett is sticking to his skeptical stance on bitcoin.

He stated on the Berkshire Hathaway Annual Shareholder assembly Saturday that it isn’t a productive asset and it does not produce something. Regardless of a shift in public notion concerning the cryptocurrency, Buffett nonetheless would not purchase it.

“Whether or not it goes up or down within the subsequent yr, or 5 or 10 years, I do not know. However the one factor I am fairly positive of is that it does not produce something,” Buffett stated. “It is bought a magic to it and folks have hooked up magics to numerous issues.”

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