The Oracle of Omaha famously believes cryptocurrencies are highly speculative, non-productive assets.
Cryptocurrencies are on the rise again, helped by optimism surrounding the possible introduction of a spot bitcoin ETF. But no matter how strong this rally gets, it won't convince one of the industry's biggest critics — Warren Buffett. Bitcoin surged 10% over the past week, at one point briefly topping $30,000, as hopes grew that a spot bitcoin ETF will soon be approved.
" Berkshire Vice Chairman Charlie Munger is an even a more vocal crypto hater, once saying digital currencies are a malicious combination of fraud and delusion, "good for kidnappers." Munger supports a ban of cryptocurrencies in the U.S. Wouldn’t buy ‘all of the bitcoin in the world’ for $25 Buffett believes that the digital token has no value because it doesn't deliver anything.
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