Friday, May 27, 2022

ਵਾਹਿਗੁਰੂ

spot_img





Warren Buffett won’t pay even $25 for all Bitcoin in the world

San Francisco, May 2, 2022- As Bitcoin hovers in the range of $38,000-$40,000 per digital coin, billionaire Warren Buffett has said that he will not even pay $25 for all the Bitcoin in the world.

Addressing Berkshire Hathaway’s annual shareholder meeting, the ace investor said Bitcoin is not a productive asset and doesn’t produce anything tangible, reports CNBC.

“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,” he was quoted as saying in the report.

“Whether it goes up or down in the next year, or five or 10 years, I don’t know. But the one thing I’m pretty sure of is that it doesn’t produce anything,” Buffett added.

“It’s got a magic to it and people have attached magic to lots of things,” said Buffett, whose Berkshire Hathaway is back in the market as his conglomerate made roughly $41 billion of net purchases in the first quarter (Q1) this year.

The purchases in the first quarter helped chip away at Berkshire’s cash pile, which ended the quarter at $106 billion, the lowest since the third quarter of 2018.

“If you said for a 1 per cent interest in all the farmland in the United States, pay our group $25 billion, I’ll write you a cheque this afternoon,” Buffett said.

“If you offer me 1 per cent of all the apartment houses in the country and you want another $25 billion, I’ll write you a cheque. The apartments are going to produce rent and the farms are going to produce food,” said the billionaire, adding that Bitcoin will not produce anything.

Bitcoin finished the month of April down by 17 per cent, making it the worst monthly performance this year.

The global crypto market cap is $1.74 trillion and Bitcoin dominates it with a 42.15 per cent share, as per data from CoinMarketCap.  (Agency)

Subscribe to YesPunjab Telegram Channel & receive important news updates

- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -spot_img

Stay Connected

20,323FansLike
114,299FollowersFollow

ENTERTAINMENT

National

GLOBAL

OPINION

Making a career based on a hobby is a wise step – by Narvijay Yadav

In my first few years in journalism, my mind was so engrossed in the work that it seemed like fun to me. I was...

Trade focussed Quad – by Asad Mirza

The first in-person meeting of the leaders of the US, Australia, Japan and India, termed Quad, will be held in Tokyo on Tuesday. This...

How much and how often should courts adjudicate matters of religous fervour? – by Adeel Ahmed

New Delhi, May 22, 2022- In the old city of Jerusalem, there lies a 187-foot long ‘Western Wall, built by Herod on the western...

SPORTS

Health & Fitness

Preterm birth: Warning signs that indicate complications during pregnancy

New Delhi, May 23, 2022 - Preterm birth, defined as a baby born before 37 weeks of pregnancy, is a leading cause of infant death and can result in long-term disabilities for those who survive. Each year, approximately 1 million children die as a result of preterm birth complications. According to the World Health Organization, many survivors will live...

Gadgets & Tech