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Warren Buffett: Who sold me all the bitcoins in the market for $25, I didn’t buy it, I bought the land.

Land can be cultivated and produced on it, and Bitcoin can’t do anything about it.

According to CNBC, Bitcoin has been gradually accepted by the traditional finance and investment community in recent years. However, Warren Buffett remains skeptical of Bitcoin.

He said at Berkshire Hathaway’s annual shareholder meeting on Saturday that bitcoin is not a useful asset and that it does not create anything tangible. Despite the change in public opinion on cryptocurrencies, Buffett has yet to buy a single bitcoin.

“Whether the price of bitcoin is going up or down next year, or five or ten years from now, I don’t know. But one thing I’m pretty sure it doesn’t matter,” Buffett said. “Bitcoin has virtual value, and people equate that fantasy with a lot of things.”

Even Bitcoin advocates are interested in viewing the digital currency as a passive asset that investors buy and hold and hope to appreciate over an extended period of time. Buffett himself also commented that “no one” speculates on Bitcoin, everyone is a long-term holder.

For more sophisticated crypto investors, some tokens provide a way for them to effectively use digital currencies — whether through borrowing or as collateral — to add value to their portfolios. their investment portfolio. their investment portfolio. private. However, most of these digital currencies are still young, highly speculative and not yet as popular as Bitcoin.

Buffett explains why he believes Bitcoin has no value compared to other types of value creation.

“If you said … 1 percent of the entire American farmland was sold to our company for $25 billion, I would write you a check this afternoon,” Buffett said. “$25 billion, I’ll own 1% of the farmland. If you’re willing to sell me 1% of the state condos, and you want another $25 billion, I’ll write to you right away. Now, if you tell me you own All the bitcoins in the world, you want me to buy it for $25 and I won’t take it because I don’t know what to do with it, I have to sell it to someone else. It’s not not working. Rental apartments, farms Food will be produced.”

For years, investors have wondered how to value bitcoin, in part because of its potential for different functions. In Western markets, Bitcoin is seen as an investment asset, especially over the past year as interest rates and inflation have risen. In other markets, people still see great potential for using Bitcoin as digital cash.

“For property to have value, it has to be given to someone,” Buffett said. “And only one currency is accepted. You can think of all kinds of things — we can make Berkshire.” .. But in the end, it’s money, “keep the $20 bill.” There is no reason in the world why the U.S. government … would let Berkshire money take its place. ”

Both Buffett and Charlie Munger have made explicit comments about Bitcoin in the past. Most famously, Buffett said that Bitcoin “could be rat poison squared.”

What do you think?

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