Billionaire investor Warren Buffett has openly and repeatedly criticized Bitcoin and other cryptocurrencies as risky and worthless.
Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is considered one of the most successful investors in the world. He has a net worth of over $102 billion as of July 2021 according to Bloomberg, making him the world's eighth-wealthiest person.
Bitcoin (Negative)
Billionaire investor Warren Buffett has openly and repeatedly criticized Bitcoin and other cryptocurrencies as risky and worthless. Most of the opinions he expressed of Bitcoin were from interviews with CNBC or Berkshire Hathaway's annual shareholder meetings.
2021
(6) MAY 2, 2021 (YAHOO FINANCE)
“I’m gonna dodge that question, we’ve probably got hundreds of thousands of people watching this that own bitcoin, and we’ve probably got two people who are short. So we have a choice of making 400,000 people mad at us and unhappy, or making two people happy, and that’s just a dumb equation.”
2020
(5) FEB. 24, 2020 (CNBC)
“I don’t have any Bitcoin. I don’t own any cryptocurrencies, I never will.”
"Cryptocurrencies basically have no value and they don't produce anything. They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem. In terms of value: zero."
2019
(4) FEB. 25, 2019 (CNBC)
"It's ingenious and blockchain is important but Bitcoin has no unique value at all, it doesn't produce anything. You can stare at it all day and no little Bitcoins come out or anything like that. It's a delusion basically."
2018
(3) MAY 7, 2018 (CNBC)
“Well, it’s probably more like-- rat poison squared.”
"If you and I buy various cryptocurrencies, they're not going to multiply. There are not going to be a bunch of rabbits sitting there in front of us. They're just gonna sit there. And I gotta hope next time you get more excited after I've bought it from you and then I'll get more excited and buy it from you. We could sit in the house by ourselves and we could keep running up the price between us. But at the end of the time there's one Bitcoin sitting there and now we've gotta find somebody else. They come to an end."
(2) JAN. 10, 2018 (CNBC)
“In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending."
2014
(1) MAR. 14, 2014 (CNBC)
"It's a mirage basically. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money too. Are checks worth a whole lot of money just because they can transmit money? I hope Bitcoin becomes a better way of doing it but you can replicate it a bunch of different ways. The idea that it has some huge intrinsic value is just a joke in my view."