Warren Buffett: I wouldn't buy bitcoins even at $25 for pike – Bits Media

Owner of Berkshire Hathaway, Warren Buffett, one of the most successful investors on the planet, believes, what about bitcoin, as opposed to real estate or industrial assets, no value.

Billionaire Warren Buffett (Warren Buffett) at a meeting of Berkshire Hathaway shareholders criticized the first cryptocurrency:

"Will it rise or fall next year, in five or 10 years old, I don't know. But one thing I'm absolutely sure of, that this asset does not produce anything".  

According to the businessman, even those investors, who predict the hegemony of Bitcoin, consider cryptocurrency as a passive asset, which is bought and held for a long period, hoping to see growth. At the same time, “no one is experiencing a shortage of bitcoins, and everyone is a long-term holder of the asset.". Buffett explained, why doesn't he see value in bitcoins?, comparing them with assets, that generate income:

"If you said, what will you sell to our company for $25 billion 1 % all US agricultural stocks, I would write you a check immediately. If you offer me 1 % all residential buildings in the country and want more $25 billion, I'll write you a check right away. If you had told me, that you own all the bitcoins in the world and offered them to me $25 for pike, I wouldn't take it, because I don't know, what to do with them. And the apartments will generate rent, farms will produce food..."

Buffett added, that investors have been puzzled by for years, how to value bitcoin - partly because of its ability to perform various functions. In Western markets, especially last year, when rates and inflation rose, BTC has established itself as an investment asset. In other markets, people still see huge potential for using Bitcoin as digital money..

Unlike the skeptic Buffett, MicroStrategy CEO Michael Saylor (Michael Saylor) considers bitcoins one of the most scarce assets in the world, whereas other products can be created endlessly given enough time and money.