Warren Buffett refuses to buy Bitcoin because it is not a productive asset that generates cash flow, dividends, or tangible utility, famously calling it "rat poison". He believes its value relies solely on finding a buyer willing to pay more, rather than intrinsic value, and predicts it will come to a bad end.
Cryptocurrencies, such as bitcoin, are the kinds of things Warren doesn't like. They produce no dividends, produce no value, they just sit there. You only make money if they increase in price, which means someone else is willing to pay more for them than you did.
Ramsey's Simple Three-Investment Rule
In a 2024 video, Ramsey said, "I have three investments — that's all I have: my business, paid-for real estate and mutual funds. I don't play single stocks. I don't screw around with gold. I don't mess with Bitcoin."
The Problem With Crypto
It's wasteful. He's criticized its massive energy consumption and how it facilitates anonymous transactions that can't be reversed. Unlike other digital payment systems, which he sees potential in, Bitcoin and similar assets don't align with his vision for practical financial innovation.
Investing $100 in Bitcoin about 10 years ago (around late 2015/early 2016) would have turned that initial amount into tens of thousands of dollars, potentially over $30,000, given Bitcoin's massive growth from roughly $300-$400 per coin to over $100,000 by late 2025/early 2026, though exact value depends on the specific purchase price and current market fluctuations, representing an astronomical return but also highlighting Bitcoin's extreme volatility.
"We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions," Musk explained in a tweet, "especially coal, which has the worst emissions of any fuel."
In American president Donald Trump's first term, he had opposed cryptocurrency, calling it "not money" and "based on thin air". He had told Fox Business in 2021 that Bitcoin "seems like a scam" to compete with the U.S. dollar. In his second presidency, Trump campaigned for digital assets.
Cramer Likes Bitcoin
“I like Bitcoin but I do not like any of the derivatives created to play it or game it or mine it.” the host of CNBC's “Mad Money” segment said. Don't Miss: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?
The 7-3-2 rule is a financial strategy for wealth building, suggesting it takes 7 years to save your first major financial goal (like a crore), then accelerating to achieve the next goal in 3 years, and the third goal in just 2 years, leveraging compounding and disciplined, increased investments (like a 10% annual SIP hike). It highlights how returns compound faster over time, drastically reducing the time needed for subsequent wealth targets, emphasizing patience and consistent, growing contributions.
As for Cuban, he has been a vocal Bitcoin backer for many years and even endorsed it as a superior alternative to gold during economic crises.
SpaceX, the space exploration company led by Elon Musk, has reportedly transferred over $133 million in Bitcoin (CRYPTO: BTC), causing a stir in the cryptocurrency market. The blockchain analytics firm Arkham Intelligence disclosed that SpaceX moved a total of 1,215 Bitcoin to various addresses.
Ricardo Benjamín Salinas Pliego, a billionaire from Mexico and one of the three richest people in the country, has put 70% of his wealth in bitcoin.
As of the latest data from Arkham Intelligence, Tesla holds approximately 11,509 BTC, valued at around $1.29 billion at current market prices.
Despite extreme volatility, Bitcoin's price has skyrocketed 1,060% in the past five years as I write this. This monster gain would've turned a $10,000 initial capital outlay in October 2020 to a whopping $115,700 on Oct. 6.
By 2013, momentum had clearly shifted. Bitcoin passed $100 in April, then hit $200 in October6. In November, it reached $1,000 on Mt.