Warren Buffett gives his most expansive explanation for why he doesn’t believe in bitcoin
Now 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?
“In my life, I try and avoid things that are stupid and evil and make me look bad in comparison to somebody else – and bitcoin does all three,”
If offered for $25 that would confirm that no one else really wants it, thus who would you sell it to?
If you could secretly obtain it for $25, then that would be somehow illegal or stealing so why would Buffett want to do that?
I am not going to say I know the “value” of bitcoin.
Buffett does not understand the abstract notions involved with the coding of the blockchain and the mining process. He does not understand NFT on the Eth blockchain.
He could understand if someone in his sphere wanted to explain it. He is remarkable for 91.
There are hundreds of billions of dollars of pent up buying power in Bitcoin and Ethereum. That is the foremost value of it. The coding makes it scarcer than the USD.