Berkshire Hathaway's Declines Offer to Buy All Bitcoin for $25
Main page News, Warren Buffett , Bitcoin

Apparently, Berkshire Hathaway CEO Warren Buffett doesn't like bitcoin (EXANTE: Bitcoin) at all. Speaking at the Berkshire Hathaway annual shareholders meeting, Buffett reiterated his skepticism toward bitcoin, saying he wouldn't buy all of the coins even for $25, CNBC reports. He said:

"If you said... for a 1% interest in all the farmland in the United States, pay our group $25 billion, I'll write you a check this afternoon. [...] Now if you told me you own all of the bitcoin in the world and you offered it to me for $25 I wouldn't take it because what would I do with it? I'd have to sell it back to you one way or another. It isn't going to do anything. The apartments are going to produce rent and the farms are going to produce food."

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The "Oracle of Omaha" stressed that cryptocurrency has no value as it simply "doesn't produce anything." Buffett noted:

"It's got a magic to it and people have attached magic to lots of things."

Cryptocurrencies Have No Value, Buffett Says

Besides Berkshire Hathaway, Buffett is known as one of the main bitcoin naysayers. Most famously, he is known over his statements that bitcoin is "probably rat poison squared." Earlier in April, Peter Thiel, Co-Founder of PayPal, said that said that bitcoin's number one enemy is Warren Buffett, whom he has called the "sociopathic grandpa from Omaha."

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