Warren Buffett: 'I don't own any cryptocurrency and I never will'
Berkshire Hathaway's chairman and CEO Warren Buffett told CNBC's Becky Quick on Monday that he's staying away from cryptocurrencies. "I don't own any cryptocurrency and I never will," he said.
βCryptocurrencies basically have no value and they donβt produce anything,β he told CNBCβs Becky Quick in a Squawk Box interview. βIn terms of value: Zero.β
βI donβt have any cryptocurrency and I never will,β he added. Buffett joined CNBC to discuss the markets just days after he released his annual shareholder letter.
Buffett has been a long-time critic of the worldβs largest digital coin. He called bitcoin βprobably rat poison squared,β ahead of the 2018 Berkshire Hathaway annual shareholder meeting. A βmirage,β βnot a currency,β and βtulipsβ are among the descriptors Buffett has used for bitcoin, according to CNBCβs Warren Buffett Archive.
Berkshire Vice Chairman Charlie Munger has called it a βturd,β and said that trading cryptocurrencies is βjust dementia.β
Last year, in an attempt to change Buffettβs mind, Justin Sun, founder of cryptocurrency TRON and CEO of file-sharing company BitTorrent, bid $4.6 million in a charity auction to have a meal with the bitcoin skeptic.
βWhen Justin and four friends came, they behaved perfectly and we had a very friendly three and a half hour dinner and the whole thing was a very friendly exchange of ideas,β Buffett said. He added that neither he nor Sun changed their stance on the coin.ο»Ώ
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Berkshire Hathaway’s chairman and CEO Warren Buffett told CNBC’s Becky Quick on Monday that he’s staying away from cryptocurrencies. “I don’t own any cryptocurrency and I never will,” he said.
βCryptocurrencies basically have no value and they donβt produce anything,β he told CNBCβs Becky Quick in a Squawk Box interview. βIn terms of value: Zero.β
βI donβt have any cryptocurrency and I never will,β he added. Buffett joined CNBC to discuss the markets just days after he released his annual shareholder letter.
Buffett has been a long-time critic of the worldβs largest digital coin. He called bitcoin βprobably rat poison squared,β ahead of the 2018 Berkshire Hathaway annual shareholder meeting. A βmirage,β βnot a currency,β and βtulipsβ are among the descriptors Buffett has used for bitcoin, according to CNBCβs Warren Buffett Archive.
Berkshire Vice Chairman Charlie Munger has called it a βturd,β and said that trading cryptocurrencies is βjust dementia.β
Last year, in an attempt to change Buffettβs mind, Justin Sun, founder of cryptocurrency TRON and CEO of file-sharing company BitTorrent, bid $4.6 million in a charity auction to have a meal with the bitcoin skeptic.
βWhen Justin and four friends came, they behaved perfectly and we had a very friendly three and a half hour dinner and the whole thing was a very friendly exchange of ideas,β Buffett said. He added that neither he nor Sun changed their stance on the coin.ο»Ώ
For more Warren Buffett, check out Squawk Pod:
Β» Subscribe on Google Play: https://play.google.com/music/m/Imbb7bptxdyljmmabn7svbhzd4m?t=Squawk_Pod
Β» Subscribe on Apple Podcasts: https://podcasts.apple.com/us/podcast/ask-warren-buffett/id1480890290?i=1000466545028
Β» Subscribe on Spotify: https://open.spotify.com/show/6zG3vq4UQ0xDRVOs8eGAMi?si=J39_0ed9RNSOASe5xCQFlA
Β» Listen on Stitcher: https://www.stitcher.com/podcast/cnbc/squawk-pod/e/67565551
For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://www.cnbc.com/pro/?__source=youtube
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Β» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
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BC and all other digital money will go to $0.
he sounds like my grandpa
He is absolutely right… bitcoin doesn't produce anything other than just blow lots of energy and speculation. Look at list of crypto currency which make fancy website and tech jargon and their market cap is form 5 bn to 50 bn which is insane. There are big companies in market which doing billions dollar projects and their share values are not even 10bn.
At the end of the day value of the company decide based on how it's giving or producing products in market to people…
Bitcoin which consume/ waste more energy than Google and Amazon cloud server combined together.
Government should regulate crypto market if they see some value then give right direction and laws otherwise many small retailers end up with loosing money.
Big Warren buffet supporter tho
This aged poorly
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crypto is long term.
warren Buffets age: fml
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lol buff is jelly
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She's a talking head nut.
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Lier …… most of them invest money in new technology…. he probably invested when it was under 200 usd
No one cares.
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Yeah why listen to Warren? He's only a billionare who have nothing to gain by lying to you, trying to share his knowledge. Lets listen to the cyrpto creeps desperate to scam you so their worthles investment doesnt turn to sh*t.
Warren doesnβt know much about crypto currencies so ofc heβs not going to support it.
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