Warren Buffet hates Bitcoin. In fact, the ‘Oracle of Omaha’ said if you offered him all the Bitcoin in the world for $25, he wouldn’t take you up on the offer.
Once the world’s wealthiest man, Buffet is right to be sceptical of cryptocurrency given the recent collapse of the FTX Exchange. Recently, BlockFi, a cryptocurrency lender, filed for bankruptcy after it was felled by its financial ties to FTX, reports New York Times.
Buffet’s business partner, Charlie Munger is an even harsher critic of Bitcoin, dismissing it as a “worthless delusion” and “rat poison.” On FTX, Munger said, “it is partly fraud and party delusion.”
You can read 16 of Warren Buffet’s best quotes on Bitcoin and crypto here.
Berkshire Hathaway, Buffet’s multinational conglomerate company has also outperformed Bitcoin over the last five years even while the cryptocurrency spiked to record highs in 2020 and 2021.
The evidence of Berkshire’s solid performance compared with that of Bitcoin’s erratic behaviour is evidenced in the graph below, courtesy of @gurgavin.
