Warren Buffett is at this year’s AGM Berkshire Hathaway we asked him again what he was doing Bitcoin hold. Funny side note: it’s now kind of a running gag that sooner or later such a question will arise.
Anyway, again this year, an interested person asked if Warren Buffett’s opinion on Bitcoin has changed. Simple question, simple answer? Not with the Oracle of Omaha. Here’s the star investor’s answer, full of words and jokes, but with an undeniable hard core.
Warren Buffett: The 2022 Bitcoin Commentary
The Oracle of Omaha didn’t just provide an answer. No, but again made an analogy. If everyone at the AGM owned all the farmland in the United States, Warren Buffett would bid 1% for $25 billion. Secondly, it was an offer for 1% of all apartments in the USA, also for 25 billion US dollars. Also here you can withdraw a check this afternoon.
However, if someone offered Warren Buffett a similar Bitcoin deal for $25, he would say no. Essentially, he was again preoccupied with the question: what should he do with it? It produces nothing, nothing grows on it. It is therefore not an asset that he would like to buy. Sooner or later he would probably have to sell it to the same people he bought it from. Just that he had to hope they would be willing to pay a higher price for it.
This is certainly a very extreme example. But as Warren Buffett has repeatedly said, he simply favors productive stocks. For example, if he owned 100% of the crypto assets, no one else would be interested in buying them. It is different with productive values that create added value.
Warren Buffett made a comment about Bitcoin that many might have anticipated. Crypto topics are not something the star investor can get used to. Perhaps, as he says himself, because his age is simply not suitable or accessible there.
Despite the popularity, investors and speculators should at least reconsider the criticism of the Oracle of Omaha. We can certainly reject his point of view, especially with regard to the spread and the risks involved. But there is a certain kernel of truth that simply cannot be denied from the star investor’s perspective.
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Vincent owns shares of Berkshire Hathaway. The Motley Fool owns and recommends bitcoin and Berkshire Hathaway shares (B shares) and recommends the following options: short January 2023 $200 put on Berkshire Hathaway (B shares), short January 2023 $265 call on Berkshire Hathaway ( B shares) and Long January 2023 $200 call on Berkshire Hathaway (B shares).