Warren Buffett Criticizes Bitcoin Again: No Intrinsic Value, Absolutely No Investment

Recently, globally renowned investor Warren Buffett made sharp negative comments about Bitcoin and other cryptocurrencies at the Berkshire Hathaway annual shareholders meeting. He pointedly stated that Bitcoin is not a productive asset, lacks intrinsic value, and has failed to demonstrate any substantial role.

Bitcoin Has No Substantial Output

Buffett stated at the meeting: "I cannot predict the rise or fall of Bitcoin in the next year, five years, or ten years, but I can assure you it will not produce anything substantial. It has a kind of magic that makes many people addicted to it." This statement highlights his fundamental skepticism about the value of Bitcoin.

Historical Commentary Review

Looking back, Buffett's criticism of Bitcoin is not new. As early as 2018, he compared Bitcoin to "rat poison," describing it as "a delusion that attracts charlatans" and asserting it is a "real bubble." That same year, he referred to Bitcoin as a “gambling device” at the shareholders meeting. By 2020, he reiterated his negative view on cryptocurrencies, stating, "Cryptocurrencies have no value; I have never, and I will never hold any cryptocurrencies."

Value Investment Philosophy

Buffett's investment philosophy is centered around value investing; he tends to invest in companies that create value through production. In contrast, although Bitcoin and other cryptocurrencies were originally designed for use as currency, their actual utility is limited at present, lacking real market value. Therefore, in Buffett's view, such assets do not meet his investment criteria.

Reiterates Absolutely No Investment in Cryptocurrencies