Warren Buffett says he wouldn't pay $25 for all the Bitcoin in the world and Charlie Munger calls crypto 'stupid and evil'
Berkshire Hathaway CEO Warren Buffett and Vice Chairman Charlie Munger took turns criticizing Bitcoin at the company's annual shareholder meeting.
"Whether it goes up or down in the next year, or five or 10 years, I don’t know. But the one thing I’m pretty sure of is that it doesn’t produce anything," Buffett said of crypto.
"If you told me you own all of the Bitcoin in the world and you offered it to me for $25, I wouldn’t take it because what would I do with it? I’d have to sell it back to you one way or another. It isn’t going to do anything," he added.
Charlie Munger agreed with his partner's assessment. "In the first place, it’s stupid because it’s still likely to go to zero. It’s evil because it undermines the Fed and third, it makes us look foolish compared to the Communist leader in China. He was smart enough to ban Bitcoin in China."
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