Buffett made it clear that even if he were presented with the entirety of Bitcoin for $25, he would still reject the offer based on its perceived worthlessness.

At the Berkshire Hathaway gathering over the weekend, Buffett stated that having over $124 billion in assets equates to holding more than three million Bitcoins based on the exchange rate from May 2, 2022. He asserted that he is convinced Bitcoin does not multiply or generate any intrinsic value.

Buffett has consistently expressed doubt regarding cryptocurrencies, but his comments made clear but the depth of his skepticism may come as a surprise. His concern lies not in individuals profiting from crypto, but rather in his belief that Bitcoin lacks practical application.

Buffett acknowledged that he sees a certain allure in Bitcoin yet remarked that 'people have attached enchantment to all sorts of things.' He illustrated this by arguing that if everyone present at the meeting owned all the farmland in the United States and wanted to sell him a 1% share, he wouldn't hesitate to buy it, as farmland is a productive asset.

He added, 'If you claimed you owned every Bitcoin worldwide and offered it to me for $25, I'd decline the offer because I wouldn’t know what to do with it.'

'I'd eventually need to sell it back to you,' he elaborated, '...but it’s not going to serve any purpose.'

Buffett reinforced his stance on the futility of crypto by indicating that legitimate assets like fine art 'will retain some value even 500 years down the line.'

After sharing more thoughts, the billionaire raised a $20 bill and declared, 'Ultimately, this is money... this is the only true form of currency.'

It's safe to say that setting up a Coinbase account is not on Buffett's immediate agenda. And let's keep it that way. about NFTs .

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