Posted by Xoken.org – Warren Buffet admitted that he would not buy Bitcoin even if the price fell to USD 25. He even called Bitcoin ‘rat poison’. Warren Buffet’s wealth is known to have touched USD 132.86 billion or around IDR 2,068 trillion as of March 5 2024.
For a long time, Bill Gates’ friend did not believe in cryptocurrency. He often criticizes the crypto sector, as quoted by Benzinga.
“When it comes to cryptocurrencies, in general, I can say with almost certainty that cryptocurrencies will end badly,” Buffett said in January 2018.
Then at Berkshire Hathaway’s annual shareholder meeting in 2022, Buffett again gave his vote on cryptocurrencies.
“Now if you had all the Bitcoins in the world and you offered them to me for USD 25, I wouldn’t accept it because what would I do with those Bitcoins? I would have to sell them back to you in some way. That wouldn’t yield anything ,” said Buffett.
However, recently it seems that Buffett has started to soften his attitude towards crypto. Berkshire Hathaway bought a stake of USD 1 billion in a crypto-focused bank, Nubank.
Nubank is a type of bank that operates outside the rules of the traditional banking system. The digital bank’s investment arm, NuInvest, allows users to put money in Bitcoin exchange-traded funds.