If a man is worth over $100 billion, I’m going to pay attention to what he has to say. Warren Buffett recently shared his opinion about Bitcoin, and the answer might surprise you.

Buffett’s take on the popular cryptocurrency is definitely not popular.

However, the why is just as interesting.

It’s not about the money — it’s about the principle

At a recent Berkshire Hathaway shareholder meeting, Warren Buffett, who has been very publicly skeptical of Bitcoin, expressed his outright opposition to it. Contrary to what you might think, he is not against it because he thinks it is not profitable. 

Warren Buffett’s objection to Bitcoin is purely based on the fact it has no intrinsic value. 

He continued by providing examples that if you offered him 1% of all the farmland or 1% of all the apartment rentals in the United States for $25 billion, he would write that check — no questions asked. 

However, when it came to Bitcoin, Buffett had a different sentiment. 

“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. Maybe it’d be the same people, but it isn’t going to do anything.

The apartments are going to produce rental and the farms are going to produce food. And if I’ve got all the Bitcoin…” Buffett mentioned during the meeting.

Warren Buffett doesn’t see Bitcoin as an asset 

To sum it all up, Warren Buffett is against investing in Bitcoin because he doesn’t view it as an asset. 

“Assets, to have value, they have to deliver something to somebody.”

— Warren Buffett on Bitcoin

In the end, I tend to lean on the side of my boy Warren here. I also appreciate him remaining true to his ethics despite an opportunity to make money.

That is such an unappreciated attribute of those who have achieved his level of success. 

Be Great,

Grant Cardone 

Featured image source: Fortune Live Media, CC BY-NC-ND 2.0, via Flickr

H/T: Gizmodo

Disclosure: This content is intended to be used for educational and informational purposes only. Individual results may vary. You should perform your own due diligence and seek the advice from a professional to verify any information on our website or materials that you are relying upon if you choose to make an investment or business decision. Investment, real estate, and business involve great risk and there is no guarantee of performance or results.

We are not attorneys, investment advisers, accountants, tax professionals or financial advisers and any of the content presented should not be taken as professional advice. We recommend seeking the advice of financial professional before you invest, and we accept no liability whatsoever for any loss or damage you may incur.

Previous articleTHIS Kid Was on My Stage — Now He’s a 14-Year-Old Business Owner
Next articleExxon Sees MASSIVE Profit Surge Following High Gas Prices
Grant Cardone
https://grantcardone.com/
Star of Discovery Channel’s “Undercover Billionaire,” Grant Cardone owns and operates seven privately held companies and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets under management valued at over $4 billion. He is the Top Crowdfunder in the world, raising over $900 million in equity via social media. Known internationally as the leading expert on sales, marketing, and scaling businesses, Cardone is a New York Times bestselling author of 11 business books, including “The 10X Rule,” which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platform he created, Cardone University, serves over 411,000 individuals and Forbes 100 corporate clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 15 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underserved, at-risk adolescents in financial literacy, especially those without father figures.
Facebook Instagram Linkedin Twitter

RELATED ARTICLESMORE FROM AUTHOR

449 COMMENTS

  9. Dàn karaoke tầm trung với mức giá nằm trong khoảng từ 20 đến 40 triệu đồng thì đây là lựa chọn của rất nhiều người khi có nhu cầu trang bị dàn karaoke. Các …

  12. Web site ile doğrulamak için konum eklerken web sitenizi kayıt etmeniz ve web sitenizin uzantısını içeren eposta adresine sahip olmanız gerekiyor. En hızlı yöntem telefon ile doğrulama yöntemi olup işletmenize ait telefon numarasını kullanarak Google a konum ekleme işlemini sorunsuz ve hızlı şekilde tamamlayabilirsini

  27. You’re so awesome! I don’t believe I have read a single thing like that before. So great to find someone with some original thoughts on this topic. Really.. thank you for starting this up. This website is something that is needed on the internet, someone with a little originality!

  39. You’re so awesome! I don’t believe I have read a single thing like that before. So great to find someone with some original thoughts on this topic. Really.. thank you for starting this up – locask.com. This website is something that is needed on the internet, someone with a little originality! – locask.com

  40. Its such as you learn my thoughts! You appear to grasp so much approximately this, such as you wrote the e-book in it or something. I feel that you simply can do with some to pressure the message home a little bit, however instead of that, this is excellent blog. A great read. I will definitely be back.

« Older Comments