Buffett: Even if you offered me all the world's bitcoins for $25 each, I still wouldn't buy!

At Berkshire Hathaway's annual shareholder meeting, renowned investor Warren Buffett stated that he would not buy Bitcoin even if it were priced at $25. His long-time partner Charlie Munger also described Bitcoin as both stupid and immoral, saying, "Cryptocurrencies look really bad."

Two elderly men expressing disdain for Bitcoin is not news, as they harshly criticized Bitcoin at a shareholders' meeting.

Industry professionals refer to Buffett as the "Oracle of Omaha." He explained why he wouldn't buy Bitcoin by calling it "rat poison squared," stating, "It could be going up, it could be going down tomorrow, the day after, 5 years from now, or 10 years from now, I don't know. But I am sure of one thing, it will not produce anything."

Buffett gave an example that if he paid $25 billion to buy 1% of all the farmland in the U.S. or all the apartments in the country, he would get a check in return. However, buying Bitcoin is not like that. "You're telling me I'm going to buy all the Bitcoin in the world, and it's $25, and why would I take it? I would not take it, I would not take it as a gift. You can't do anything with it except sell it to somebody else. But then that person will have to sell it to somebody else. It's not doing anything for you."

He emphasized that apartments produce rent, farmland produces food, but Bitcoin does not.

Although Buffett does not directly invest in Bitcoin, he invested in the digital bank Nubank, which is crypto-friendly and offers Bitcoin investments.

Munger's criticism of Bitcoin is even more harsh, describing Bitcoin as stupid and evil. "I try to avoid things that are both stupid and evil in my life, and I very much like to keep away from things that are both. And I think I'm held to be quite good at it—this is a good example. Bitcoin is a good example. What I do with Bitcoin, I regard it as deeply immoral."

Munger explained that firstly, Bitcoin could go to zero, and it disrupts the Federal Reserve system, making it evil. Lastly, "It's as bad as trading freshly harvested baby brains. And I think I should say modestly that the whole damn development is disgusting and contrary to the interests of civilization."

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