What Happened: Buffett attacked Bitcoin BTC/USD while answering an audience question about the apex cryptocurrency.
Musk was responding to a video clip on Twitter, posted by crypto-backing venture capitalist Marc Andreessen, saying Buffett repeatedly referenced Bitcoin in the clip.
MicroStrategy Inc MSTR CEO and Bitcoin bull Michael Saylor also noted Buffett's comments.
Andreessen called it "wild" that Buffett can attack Bitcoin "while nakedly shilling diabetes," referred to Buffett with boxes of See's Candies on stage during the meeting.
Berkshire Hathaway, incidentally, purchased See's Candies in 1972, and Buffett has called See's a "dream business." In 1982, he was offered $125 million for See’s, five times the $25 million he’d paid for it a decade earlier, but declined the offer.
Why It Matters: “Whether the Bitcoin price goes up or down in the next year, or five or 10 years, I don’t know,” said Buffett, explaining his long dislike of Bitcoin due to it not producing anything tangible.
Buffett also said, “If you told me you own all of the bitcoin in the world and offered it 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. So it isn’t going to do anything.”
Others in the Bitcoin community responded to Buffett's remarks, pointing out his current connection to the crypto.
Buffett previously called Bitcoin “rat poison” and has been targeted as an enemy of Bitcoin.
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