Loading ...1. Bitcoin Has No Intrinsic Value
Buffett has repeatedly said:
“Bitcoin has no unique value at all.” — He doesn’t see it as producing anything real.
CNBC
“Cryptocurrencies basically have no value and they don’t produce anything.” — He said this while emphasizing he never owns any and never will.
CNBC
The emphasis here is on productive assets. For Buffett, true value comes from something that generates cash flow or utility (like a business, farmland, rental property). Bitcoin doesn’t do that.
CNBC
🪤 Classic Buffett Metaphors
2. “Rat Poison Squared”
One of his most quoted criticisms:
“Bitcoin is probably rat poison squared.”
This colorful insult highlights his belief that Bitcoin holds more risk than value.
CNBC
🎭 Valuation and Use
3. A “Mirage” or “Gambling Device”
Buffett has said:
“It’s a mirage, basically.” — implying its value is illusory.
The Motley Fool
He calls Bitcoin more like a gamble than an investment because its value only comes from hoping someone else will pay more later.
CNBC
💸 Productivity vs. Speculation
4. Productive Assets vs. Bitcoin
In 2022, Buffett famously explained his position with a comparison:
If you offered him 1% of all U.S. farmland for $25 billion, he’d take it. But if someone offered him all the Bitcoin in the world for $25, he wouldn’t take it.
Why? Because farmland produces food (real value), and Bitcoin “doesn’t do anything.”
CNBC
He also said that while Bitcoin might go up or down in price, he’s sure it doesn’t produce anything.
The Motley Fool
📦 Positioning & Action
5. He Never Invests In It
Buffett has stated directly:
“I don’t own any cryptocurrency and I never will.” — he reaffirms this often.
CNBC
He also says he doesn’t short it or plan to take any position because he believes he doesn’t understand it enough to justify investing.