Warren Buffet recently made a strong declaration that he wouldn't buy all of the bitcoin in the world for $25, and it gave us a better glimpse of how he really views cryptocurrency. He went on to say that Bitcoin "doesn't multiply" and "doesn't produce anything," which is true if you think about it, except what multiplies in BTC is its value. I wonder what would make Buffet change his perception of BTC. Or maybe he's just trying to influence the crypto market for a bargain buy.
Warren has been wrong about many things in the past and he has admitted this previously, he missed up on big investments in companies like Amazon and Microsoft. There is also a degree of technical illiteracy, he pretty much avoids investing in tech company and that investment in Apple was a big leap for him, but has paid off handsomely. So he can definitely make errors in judgement, but it seems he is just against the idea of a globalized currency and part of me wonders if it is in someway connected to his patriotism for the US Dollar as the only reserve currency. We're at the point where it takes a lot of money to change the underlying price of Bitcoin and he's right about it being unproductive in comparison to stocks or property.