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“I can say with almost certainty that they will meet a bad end”
The cryptocurrency market is a whirlwind of excitement and uncertainty, fueled by fear of missing out (FOMO) and speculation about its future trajectory. Amid this frenzy, one of the most experienced voices in investing, Warren Buffetthas always made his position on the matter clear: he wants nothing to do with cryptocurrency.
Speaking at Berkshire Hathaway Inc.’s annual shareholder meeting in 2018, Buffett described Bitcoin as “probably rat poison squared,” a sentiment reported by CNBC’s Becky Quick. Despite the growing acceptance of Bitcoin in the traditional financial sector, Buffett’s stance remains unchanged, emphasizing his belief that Bitcoin is not a viable investment.
The late Charlie Munger, who was vice chairman of Berkshire Hathaway and a longtime Buffett aide, echoed that sentiment during the meeting, calling cryptocurrency trading “just insanity.”
Buffett expressed caution towards Bitcoin and the broader cryptocurrency market, predicting a bleak outcome. “When it comes to cryptocurrencies, in general, I can say with almost certainty that they will meet a bad end,” Buffett said.
His opinion has not changed over the years. At Berkshire Hathaway’s 2022 annual shareholder meeting, he said: “Now, if you told me you own all the Bitcoin in the world and you offered it to me for $25, I wouldn’t accept it not because what would I do with it? I’ll have to sell it to you one way or another. It won’t do anything. Through this statement, Buffett expresses his view that, unlike other assets, cryptocurrencies cannot generate tangible value or income.
Although he is not primarily known as an agricultural investor, Buffett recognizes the intrinsic value of certain asset classes outside of his typical portfolio, such as farmland. His view is that if you invest in farmland, you own a tangible asset that directly contributes to food production, a vital sector of the economy.
Underscoring the point, Buffett said: “If you say, 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. »
Learn more about Buffett: Warren Buffett’s 400-acre farm has proven to be one of his most successful long-term investments, even though he admits to knowing nothing about farming. Here’s why more and more investors are adding farmland to their portfolio.
For those looking to follow in Buffett’s footsteps by investing in tangible assets but without billions to spend, platforms like Arrived Homes offer an accessible entry into real estate investing. Houses arrived, backed by leading investors including Jeff Bezos, allows individuals to invest in single-family rental properties for as little as $100.
The story continues
As the cryptocurrency debate rages on, with enthusiasts and skeptics expressing their opinions, the insights of experienced investors like Buffett provide a valuable counterpoint to the frenzy. By emphasizing the importance of investing in assets that generate real, tangible benefits, Buffett’s views offer guidance for navigating the complexities of the modern financial landscape, where the distinction between speculative enthusiasm and substantial value has never been also critical.
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This item Warren Buffett says he wouldn’t pay $25 for all the world’s Bitcoin – he calls crypto ‘rat poison’ and warns: ‘I can say with almost certainty they will meet a bad end’ originally appeared on Benzinga.com
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