Elon Musk Laughs At Warren Buffett’s Bitcoin Attack

Elon Musk Laughs At Warren Buffett’s Bitcoin Attack

Elon Musk, CEO of Tesla and SpaceX, laughed at the latest statements by Warren Buffett, the legendary American investor, about Bitcoin. This Saturday (30), Buffett said he sees no value in the largest cryptocurrency on the market and would therefore not buy.

This reasoning of yours is not new. Eight years ago, Buffett also advised buying company stock in times of war. According to him, bits of paper (money) and Bitcoin would lose their value during these occasions.

Meanwhile, Elon Musk seems more sensible with his investments. After all, Tesla is now only behind MicroStrategy when it comes to bitcoins in cash, showing that the billionaire sees the values ​​of Bitcoin.

Elon Musk in Defense of Bitcoin

This Sunday (May 1), Elon Musk laughed at Warren Buffett after an excerpt of his statement was posted on Twitter. The cut shows Buffett claiming that apartments and farms are better investments than Bitcoin.

“If you tell me you own all the Bitcoin in the world, and you offer it to me for $25, I wouldn’t buy it. After all, what would I do with him? I should somehow sell it back to you.” explained Warren Buffet. “It won’t do anything. Your apartments will bring in rent, your farms will produce food.”

Despite one of his companies holding 42,902 bitcoins in cash, equivalent to 8.3 billion reais, Elon Musk failed to convince Buffett that Bitcoin is a good investment. He just laughed at the statement from the Omaha investor.

“Haha he says “Bitcoin” so many times”

It’s worth noting, though, that Buffett took it easy this time around. After all, in the past, the investor has already called the cryptocurrency “rat poison” to express his disdain for it.

Elon Musk gives investment advice

Also this Sunday (1st) Elon Musk gave advice on investments. His speech comes just days after he raised $44 billion to buy his own Twitter, the billionaire’s favorite social network.

“Because I am often asked: buy stocks of various companies that make products and services that you believe in”, tweeted Tesla and SpaceX CEO Elon Musk. “Only sell if you think your products and services are getting worse. Don’t panic when the market comes in. You will benefit from that in the long run.”

Given this, of course Musk has nothing against investing in the traditional market. However, it seems smart enough not to ignore the characteristics that make Bitcoin a unique and necessary asset.

Source: Live Coins