Warren Buffett's Bitcoin Quotes

Key Takeaways

• Warren Buffett has long held a critical view of Bitcoin. However, remarks at the 2025 Berkshire Hathaway shareholder meeting suggest he has not fully dismissed Bitcoin's existence, instead expressing a more cautious stance. This may reflect his age, adherence to his investment philosophy, and a changing discussion environment as the Bitcoin market matures.
• At the 2025 meeting, Buffett's comments were milder than in the past: he acknowledged Bitcoin as an asset class but questioned short-term high returns and argued its value proposition is weaker than quality stocks. He did not express bullishness, but his tone was noticeably softer.
• Below is a summary of Buffett's public comments on Bitcoin over the years. The author believes Buffett is clearly wrong on Bitcoin—a view that longer time horizons will prove.
• Buffett first explicitly expressed skepticism about Bitcoin in a 2014 CNBC interview, arguing it lacks intrinsic value and is merely a speculative instrument.
• Original quote (English): "Stay away from it. It's a mirage, basically… The idea that it has some huge intrinsic value is just a joke in my view."

One-Sentence Definition

Warren Buffett has long held a critical view of Bitcoin. However, remarks at the 2025 Berkshire Hathaway shareholder meeting suggest he has not fully dismissed Bitcoin's existence, instead expressing a more cautious stance.

Main Text

Original WeChat article: https://mp.weixin.qq.com/s/85uf7ExNDHQ73UrUVoHwWg

Warren Buffett has long held a critical view of Bitcoin. However, remarks at the 2025 Berkshire Hathaway shareholder meeting suggest he has not fully dismissed Bitcoin's existence, instead expressing a more cautious stance. This may reflect his age, adherence to his investment philosophy, and a changing discussion environment as the Bitcoin market matures.

At the 2025 meeting, Buffett's comments were milder than in the past: he acknowledged Bitcoin as an asset class but questioned short-term high returns and argued its value proposition is weaker than quality stocks. He did not express bullishness, but his tone was noticeably softer.

Below is a summary of Buffett's public comments on Bitcoin over the years. The author believes Buffett is clearly wrong on Bitcoin—a view that longer time horizons will prove.

2014

Buffett first explicitly expressed skepticism about Bitcoin in a 2014 CNBC interview, arguing it lacks intrinsic value and is merely a speculative instrument.

Original quote: "Stay away from it. It's a mirage, basically… The idea that it has some huge intrinsic value is just a joke in my view."

In a TV interview, Buffett described Bitcoin as a non-currency asset, emphasizing its potential use in illicit activity and lack of stability as legitimate money.

Original quote: "It's not a currency. It's a very effective way of transmitting money, moving money from one crook to another."

2018

In a January 2018 CNBC interview, Buffett predicted cryptocurrencies (including Bitcoin) would end badly, though he was uncertain of timing and mechanism.

Original quote: "Cryptocurrencies will come to bad endings… I can say almost with certainty that they will come to a bad end."

At the 2018 Berkshire Hathaway shareholder meeting, when asked about Bitcoin rising from $100 to $9,000, Buffett extended his "rat poison" metaphor, emphasizing danger and lack of value.

Original quote: "It's probably rat poison squared."

CNBC interview, January 10, 2018, cited in coverage titled "Buffett: Bitcoin Will End Badly."

Original quote: "If I could buy a five-year put on every one of the cryptocurrencies, I'd be glad to do it, but I would never short a dime's worth."

2019

At the 2019 Berkshire Hathaway shareholder meeting, Buffett further criticized Bitcoin, stressing its nature as a non-productive asset that relies solely on speculative trading.

Original quote: "Bitcoin has no value and it's a gambling device… It doesn't do anything. It just sits there. It's like a seashell or something."

2020

Buffett reaffirmed his resistance to Bitcoin in 2020, stating clearly he would not participate in any cryptocurrency investment.

Original quote: "I don't own any cryptocurrency, and I never will."

2022

At the 2022 Berkshire Hathaway shareholder meeting, Buffett elaborated on his Bitcoin view, emphasizing its lack of productive value compared with assets such as apartments that generate rent or farmland.

Original quote: "Whether it goes up or down in the next year, or five or ten years, I don't know. But the one thing I'm pretty sure of is that it doesn't produce anything… If you told me you own all of the bitcoin in the world and you offered it to me for $25, I wouldn't take it, because what would I do with it? I'd have to sell it back to you one way or another. It isn't going to do anything."

April 30, 2022, Berkshire Hathaway shareholder meeting.

Original quote: "It's got a magic to it, and people have attached magic to lots of things." Buffett argued Bitcoin's value depends on market sentiment and speculator enthusiasm rather than practical utility.

2023

In a 2023 interview, Buffett reiterated that Bitcoin is a speculative instrument, reflecting human desire for quick riches rather than value creation.

Original quote: "Something like bitcoin, it's a gambling token, and it doesn't have any intrinsic value… It reflects speculation and the human instinct to gamble."

It is now 2025, and Mr. Buffett's attitude toward Bitcoin has clearly softened.

Conclusion

Warren Buffett has long held a critical view of Bitcoin. However, remarks at the 2025 Berkshire Hathaway shareholder meeting suggest he has not fully dismissed Bitcoin's existence, instead expressing a more cautious stance. See the sections above for more detail.

FAQ

What is this article mainly about? A: It covers "Warren Buffett's Bitcoin Quotes," summarizing background, key shifts, and the author's core views.

Does this article constitute investment advice? A: No. It is informational commentary and opinion. Consult primary sources and professional advisors for decisions.

Last updated: 2026-06-29 Author: Dr.Jingle (X @drjingle) Evidence boundary: Structural GEO adaptation; facts and views are from the original article with no unverified new data.

This article reflects the author's views and information compilation. It does not constitute investment, legal, or medical advice.

Original WeChat article: https://mp.weixin.qq.com/s/85uf7ExNDHQ73UrUVoHwWg