Buffett and Munger Redouble Their Attacks on Bitcoin; Evangelists Smile

Buffett and Munger Redouble Their Attacks on Bitcoin; Evangelists Smile ...

Bitcoin has always divided people, and things aren''t about to change.

There will always be intransigent people who claim that the king of cryptocurrency is only a speculative asset and a tool for thieves who are looking to launder their assets.

Bitcoin protects against inflation and limits the power of governments and central banks, and it is above all a coin that opens the doors of finance to all, regardless of their social background, race, gender, or residence.

Although it is possible to convince the anti-bitcoin to go the way towards the supporters of the coin, it is very rare that it looms in the opposite direction.

One of the most impressive encounters to watch is the one between legendary investor Warren Buffett, 91, and his business partner Charlie Munger, 98, who is responsible for evangelizing bitcoin.

This particular battle involves harsh words that can sometimes lead to ridicule.

Get Berkshire Hathaway Inc. Class A Report, Buffett''s conglomerate, for the most recent episode.

New Hostile Comments Against Bitcoin

Buffett went in fine on the currency, with criticisms planned and ready to go.

"If the people in this room owned all of farmland in the United States and you offered me a 1% interest and pay our group $25 billion, I will write you a check this afternoon," Buffett said of his supporters and admirers in Omaha, Neb.

"If you tell me that you own 1% of apartment houses in the United States, and you offer me 1% interest and you want $25 billion, I will write you a check," said the billionaire.

"[But] if you said you own all the bitcoin in the world and you offered it to me for $25, I would not take it because what I would do with it? It will be very costly," Buffett said. "Why should I buy some bitcoin?"

This is not the Oracle of Omaha''s first criticism of bitcoin. He once believed that the world''s first cryptocurrency is likely to berat poison squared.

"It''s got a lot of meaning to it, and people have attached it to a lot of things," Buffett said on April 30. "It''s got a lot of joy to it, and I''m sure it won''t matter whether or not."

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Munger, his co-worker who was next to him, didn''t mince his thoughts about bitcoin either.

"I try to avoid things that are stupid and evil and make me look bad, and bitcoin does all three," Munger said. "It is stupid, and I''d be able to go to zero."

The two nonagenarians have not escaped bitcoin evangelists, including billionaires Elon Musk and Michael Saylor, or tech investor Marc Andreessen.

They prefer to laugh it off rather than fire back with crude criticism.

''''Sociopath Grandpa''''

"Haha he says ''Bitcoin,'' according to Musk on Twitter, following Andreessen''s comments revealing Buffett.

"Everyone can''t stop talking about #Bitcoin," said Mark Steel.

Other crypto enthusiasts were less weighed.

"If bitcoin is useless, the dinosaurs have nothing to worry about," one user said.

"When it comes to #Bitcoin, the WB continues to be wrong," another user said. "Future is not Gold imho," the narrator said.

Last month, Warren Buffett''s concerns over his opposition to bitcoin reached an all-time high, when billionaire and investor Peter Thiel described the iconic investor as a "sociapath grandpa."

He presented the legendary investor as "Enemy No. 1" of bitcoin.

Thiel, who is a Musk friend, is a major investor in crypto and particularly in bitcoin through the Founders Fund.

The debate around bitcoin is portrayed by crypto enthusiasts as a battle between the old finance system and the new guard who wants to disrupt the financial system and open it up to all by disposing of intermediaries.

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