📉 Warren Buffett & Charlie Munger DESTROY Bitcoin: "It's Stupid & Evil!" 🚨🔥| BERKSHIRE 2022

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버핏과 멍거가 비트코인을 생산성 없는 투기 자산으로 비판. 농지·아파트처럼 임대·식량을 생산하지 않고, 다음 사람이 더 비싸게 사주기에 의존한다고 주장. 비트코인은 '어리석고(stupid), 사악하며(evil)' 가격이 0으로 갈 가능성이 높다고 평가. 중국이 비트코인을 금지한 것과 대비해 미국이 더 어리석다고 발언.

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01. Uh we got a lot of questions on this topic. I'll ask this one that came from Raj. He says, "Have you changed your views on Bitcoin andor cryptocurrency in any respect?" I'm conflicted about this because his own views have slightly evolved during the past two years from Bitcoin is a fraud and waste to Bitcoin is in a speculative bubble but might have some uses.

02. Well, I shouldn't answer any questions on the subject, but I will. You know, there's there's all kinds of people watching this that are long Bitcoin and there's nobody that's short and nobody nobody wants their windpipe stepped on. I don't blame them. I don't like people to step on my windpipe. But I would say this that if all the people this if the people in this room uh owned all of the farmland in the United States and you offered me a 1% interest in it and you said for a 1% interest in all the farmland in the United States uh pay me u pay pay our group um well let's see 10 million uh pay us bargain price $25 billion I'll write you a check this afternoon 25 billion now I own 1% of the farmland if you tell me you own 1% of the apartment houses in the United States uh and you offer me uh a 1% interest.

03. So I'll have a 1% all the apartment houses in the country and you want whatever it may be for it and call another 25 billion or something. I'll write you a check. You know it's very simple. Now, if you told me you owned 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?

04. Um, I have to sell it back to you one way or another. I mean, maybe I the same people, but it isn't going to do anything. the apartments are going to produce rental and and the farms are going to produce food and uh uh if I've got all the Bitcoin, you know, I'm back where whatever his name was, who may or may not have existed was, you know, 15 years ago.

05. If I've got it all, he could create a mystery about it. But everybody knows what I'm like. I mean, so if I'm trying to get rid of it, you know, people will say, well, uh, you know, why should I buy some Bitcoin from you? I mean, why don't you call it Buffercoin? You know, make your own or something.

06. What? Do something. But don't I'm not going to give you anything for it. And you'd be right, incidentally. But that's explains the difference between productive assets and something that depends on the next guy paying you more than the last guy got. Now, net If you look at it, a lot of commissions have been paid and there's I mean there's all kinds of frictional costs that are very real that somebody has paid to a bunch of people who facilitate this game.

07. But whatever one group of the public has taken out or one group of owners has come in from other people. I mean it's other people have entered the room and they move money around but but no money has there's no more money in the room. that just changed hands with a lot of maybe fraud and costs involved and you know a whole bunch of things you lose you know you forget the numbers or forget the equation they uh you can do that with a lot of things I mean it's been done throughout history uh certain things have value that don't produce something tangible able.

08. I mean, you can you can say a great painting, you know, probably will have some value 500 years from now. May not, but the odds are pretty good that if it was a big enough name at some point, there will be a few things. I mean it, you know, you can uh you can find something if somebody wants to sell you a pyramid or something and you can charge the viewers or you know it'll be around a long time and and won't produce anything but but but uh people will find it interesting to go there because I read about the pyramids but basically uh assets to be to have value they have to deliver something to somebody and uh uh and there's only one currency that's acceptable and I'd say I mean you can you can come up with all kinds of things uh we can put out berkshire coins or you know we can put up bergkshire money or anything like that but uh we get in trouble I guess if we call it money but uh in the end this is money and and there's no reason in the world.

09. Why the United States government whose currency people prefer we literally there's 2.3 just under 2.3 trillion just of these little pieces of paper floating around some places. 7,000 for every man, woman, and child in the United States. And of course, most of them probably aren't in the United States.

10. Who knows? But this is the only thing that's money. And anybody that thinks the United States is going to change the way they let Bergkshire money replace theirs, you know, is out of their mind. I mean, and uh so anyway, uh with those few deficiencies, uh you know, you can whether it goes up or down in the next year or 5 years, 10 years, I don't know.

11. But the one thing I'm pretty sure of is that it it doesn't it doesn't multiply. It doesn't produce anything. It's it's uh it's got a magic to it. And people have attached magics to lots of things. I mean the gold on Wall Street, you know, create magic. You know, you know, we are not an insurance company.

12. We're a tech company. Well, they're an insurance company, but a dozen people or so raised a lot of money. They just say just don't pay any attention to the fact that we sell insurance. we are a tech company. Well, in the end they wrote insurance and overwhelmingly they've lost a lot of money since then.

13. It it it you can you can you can make up things that work well in getting money from other people and that's why well I have a slightly different way of looking at it. I'll sell you something then. Well, I the in my life I try and avoid things that are stupid and evil and make me look bad in comparison with somebody else.

14. And Bitcoin does all three. And and the first place it's stupid because it's very likely to go to zero. And second place is evil because it undermines the Federal Reserve system and the national currency system which we desperately need to maintain its integrity and government control and so on. And third, it makes us look foolish compared to the communist leader in China.

15. He was smart enough to ban Bitcoin in China. And with all of our presumed advantages of civilization, we are a lot dumber than the communist leader in China. Yeah. And when 25% of the people of the country get mad because we've said what we've said today, just remember Charlie spoke last and was the most Please like and subscribe. Thank you.