Despite a shift in public perception about the cryptocurrency, Buffett still wouldn't buy bitcoin.
"If you said… for a 1% interest in all the farmland in the United States, pay our group $25 billion, I'll write you a check this afternoon," Buffett said. "[For] $25 billion I now own 1% of the farmland. [If] you offer me 1% of all the apartment houses in the country and you want another $25 billion, I'll write you a check, it's very simple.
"Assets, to have value, have to deliver something to somebody. And there's only one currency that's accepted. You can come up with all kinds of things — we can put up Berkshire coins... but in the end, this is money," he said, holding up a $20 bill. "And there's no reason in the world why the United States government… is going to let Berkshire money replace theirs."
Both Buffett and Charlie Munger have made hostile comments toward bitcoin in the past. Most famously, Buffett said bitcoin is "probably rat poison squared." Munger doubled down on that sentiment Saturday. "In my life, I try and avoid things that are stupid and evil and make me look bad in comparison to somebody else – and bitcoin does all three," Munger said. "In the first place, it's stupid because it's still likely to go to zero. It's evil because it undermines the Federal Reserve System... and third, it makes us look foolish compared to the Communist leader in China. He was smart enough to ban bitcoin in China.
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