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Buffett Back Bashing Bitcoin, Claims It ‘doesn’t Produce Anything’

According to  Warren Buffet, he would never take all of the Bitcoin, even if it was just for $25. With over $!24 billion, he is one of the most popular crypto skeptics. His arguments often stem around the digital assets offering the non-tangible value and the community being extremely quick to highlight on every occasion. Apparently, there are myriad use cases and utilities in crypto that he hasn’t explored yet.

In a conversation at the Berkshire Hathaway Annual Shareholder meeting on Saturday, Buffet commented that he has no idea whether the gradual value of BTC is moving forward or not. But as a matter of fact, it isn’t producing enough according to him.

Buffet also argued how he would happily write a check-in that afternoon worth $25 billion for just 1% farmland in the US as it produces real-world utility, and he wouldn’t even spend $25 to get all the BTC in the world.

This is because, according to him, since he has to sell it back, it isn’t going to do anything, but apartments, produce rent, and the farms will produce food for him, which are valuable assets. These assets deliver something to somebody, unlike digital assets, and that’s the currency widely accepted.

However, renowned crypto presenters even mocked Buffet’s comments on Twitter on the weekend as the co-founder of the top crypto venture firm Andressobn Horowitz stated that he says wild stuff while nakedly shilling diabetes. In response to the conversation, Elon Musk also said that he repeated Bitcoin multiple times as everyone couldn’t stop talking about Bitcoin.

Another popular crypto skeptic has to be the CEO of JPMorgan, Jamie Dimon, who once described BTC as fraud and continuously stated that he has no interest in this sector on a personal level.