Warren Buffett quotes about crypto are the biggest “buy” signals. Dont @ me 😊
Quotes taken from Market Insider story by Theron Mohamed
“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.” — CNBC, February 2020 — — — Bitcoin price $9,341.71
“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 our or anything like that. It’s a delusion basically.” — CNBC, February 2019 — — — Bitcoin price $3,854.36
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 if 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.” — CNBC, May 2018 — — -Bitcoin price $9,234.82
In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending. If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it, but I would never short a dime’s worth.” — CNBC, January 2018 — — Bitcoin price $13,405.80
“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.” — CNBC, March 2014. — — Bitcoin price $471.24
“It will feed on itself for a while and sometimes for a long while and sometimes to extraordinary numbers. But they come to bad endings and cryptocurrencies will come to bad endings.” — discussing speculative bubbles at Berkshire’s shareholder meeting in 2018. — — Bitcoin price $8,368.83
“You’re going to be a lot better off owning productive assets over the next 50 years than you will be owning pieces of paper or Bitcoin.” — CNBC, March 2014 — — Bitcoin price $471.24
“Bitcoin has been used to move around a fair amount of money illegally. The logical move from the introduction of bitcoin is to go short suitcases because the money that was taken in suitcases from one country to another — suitcases will probably fall off in demand. You can look at that as the economic contribution of bitcoin to the society.” — CNBC, February 2020 — — Bitcoin price $9,341.71
