Buffett and Charlie Munger rip Bitcoin…again.
They call him the Oracle of Omaha, not the Oracle of the Metaverse.
In their annual Berkshire Hathaway investor meeting, old pals Warren and Charlie fielded the inevitable question on their latest thoughts on Bitcoin, and they did not mince their words.
The most notable quote of Warren’s response?
“If you offered me all of the Bitcoin in the world for $25, I wouldn’t take it”
This response surprises no one, as Buffett has been a long time critic of Bitcoin and has previously reffered to it as “rat poison squared”. Old Charlie didn’t hesitate to jump in to pile on the Bitcoin hate either saying “In my life, I try and avoid things that are stupid and evil and make me look bad in comparison to somebody else – and bitcoin does all three,” Munger said. “In the first place, it’s stupid because it’s still likely to go to zero. It’s evil because it undermines the Federal Reserve System… and third, it makes us look foolish compared to the Communist leader in China. He was smart enough to ban bitcoin in China.”
Warren Buffett has not been very popular with the crypto faithful. At the Bitcoin 2022 conference in Miami, Peter Thiel called Warren out for being the “sociopathic grandpa from Omaha.” Elon Musk, who has been in the news quite a bit recently, didn’t hesitate to add his thoughts on Warren’s recent statements either in responding to Marc Andreesen’s (A16Z) tweet: