At Berkshire Hathaway's annual shareholder meeting over the weekend, Warren Buffett once again made a series of comments singing the praises of bitcoin, prompting backlash and mockery from cryptocurrency supporters, with Tesla CEO Musk joining in. Buffett said at the shareholder meeting, "I don't know that the price of bitcoin is going to go up and start going down in the next year, or five or 10 years." He explained his long-standing dislike of bitcoin because it doesn't produce anything tangible.
Buffett added: "If you told me you owned all the bitcoin in the world and sold it for $25, I wouldn't want it, because what could I do with it? I'd have to sell it back to you, no matter what. So it's not going to do anything."
Marc Andreessen, a pro-cryptocurrency American billionaire and venture capitalist, tweeted a video clip of Warren Buffett talking about bitcoin on multiple occasions and commented, "It's crazy that he's still nakedly peddling diabetes when he says these things. " This is a reference to Buffett's attendance at a shareholder meeting with Hershey's candy on the table and his old partner Munger on hand to crack open a meal.
Musk responded under Anderson's video saying, "Haha, he said 'bitcoin' so many times."
Bitcoin superlord and MicroStrategy founder and CEO Michael Seiler also took note of Buffett's latest comments, sarcastically stating, "Everyone keeps talking about Bitcoin."
Others in the Bitcoin community have responded to Buffett's comments, noting that while he has repeatedly disparaged Bitcoin in public, he can't actually get rid of his portfolio's ties to Bitcoin.
A cryptocurrency supporter writes: "Warren Buffett says he won't buy all the bitcoins in the world for $25, but he's invested in a Brazilian bank called Nubank, which has a bitcoin ETF listed. Ignore him ......"
At the Bitcoin 2022 conference in Miami last month, US billionaire Peter Thiel, known as the "godfather of Silicon Valley venture capital", called Warren Buffett "Bitcoin's number one enemy".