"Warren Buffett and Charles Munger saved their harshest words for cryptocurrencies.Berkshire’s Annual Meeting: Buffett Approves of Apple’s Buyback Plan - The New York Times
“Cryptocurrencies will come to bad endings.” Mr. Buffett said, responding to an attendee from Ukraine.
Mr. Buffett’s main argument against cryptocurrencies is the same one he has made about gold: They are not a “productive asset.” That means the value of cryptocurrencies is determined solely by what someone is willing to pay for it.
“If you had bought gold at the time of Christ and you figure the compound rate on it, it’s a couple tenths of a percent,” Mr. Buffett said."
Monday, May 07, 2018
Berkshire’s Annual Meeting: Buffett Approves of Apple’s Buyback Plan - The New York Times
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