fxs_header_sponsor_anchor

Warren Buffet compares Bitcoin to seashells

  • Buffet thinks that Bitcoin is only useful for trading and doesn’t hold any practical value.
  • He told Tron founder Justin Sun that any widespread appeal of Bitcoin isn’t likely to increase in the future.

Warren Buffett has reiterated his belief about Bitcoin having no value by comparing it to seashells. On January 23, the Berkshire Hathaway CEO finally had the long-awaited dinner with Tron founder, Justin Sun. During the dinner, Buffet explained why Bitcoin is a bad investment.

We can plant something and harvest it [but] Bitcoin cannot capture the value of blockchain. Just because something has value doesn’t mean it’s a good investment.

The billionaire investor said that he would instead buy land over Bitcoin. He added that he’s content with the US dollar system and the protection that stock and equity offer. Buffett told Sun that any widespread appeal of Bitcoin isn’t likely to grow in the future.

I’m sure my grandson would rather inherit my wealth in US dollars.

The business magnate said that Bitcoin is only useful for trading and doesn’t hold any practical value. 

The US dollar is able to store value, but Bitcoin is not capable of doing so, and therefore it’s not different from a seashell.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.