{"id":489452,"date":"2022-05-02T17:00:04","date_gmt":"2022-05-02T17:00:04","guid":{"rendered":"https:\/\/ktsl888.com\/?p=489452"},"modified":"2024-06-11T11:32:38","modified_gmt":"2024-06-11T11:32:38","slug":"billionaire-ricardo-salinas-fires-back-at-warren-buffetts-bitcoin-slander","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/billionaire-ricardo-salinas-fires-back-at-warren-buffetts-bitcoin-slander\/","title":{"rendered":"Billionaire Ricardo Salinas Fires Back At Warren Buffett\u2019s Bitcoin Slander"},"content":{"rendered":"<p class=\"p2\">Bitcoin is not topping the list of the favorite investments of some big names in the financial sector. One of those is billionaire Warren Buffett who has not been shy to voice his displeasure with the digital asset. This time around, Buffett has once again made known his hatred for the digital asset by saying that he would not buy all of the BTC in the world for $25. This has drawn the ire of investors in the space, one of which is Mexico\u2019s third-richest man, Ricardo Salinas Pliego.<\/p>\n<p class=\"p2\">Warren Buffett Disses Bitcoin<\/p>\n<p class=\"p2\">Billionaire and legendary investor Warren Buffett recently made some <a href=\"https:\/\/www.cnbc.com\/2022\/04\/30\/warren-buffett-gives-his-most-expansive-explanation-for-why-he-doesnt-believe-in-bitcoin.html\" rel=\"nofollow\">remarks<\/a> about bitcoin. The most popular of these have been the fact that he said that if he were offered all the bitcoins that exist for a measly $25, he still wouldn\u2019t take the deal.<\/p>\n<p class=\"p2\">The Berkshire Hathaway head said this at the annual shareholder meeting where he once more reiterated his disdain for cryptocurrencies. He explained that bitcoin had nothing to offer, making it an unproductive asset with no tangible production.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/ktsl888.com\/news\/tether-usdt-q1-trading-volume-plunges\/\">Tether (USDT) Q1 Trading Volume Plunges To $5.3 Trillion In Quarterly Low<\/a><\/strong><\/em><\/p>\n<p class=\"p2\">He compared the digital asset to other stores of value which include land and apartments. Both of these, the billionaire admitted he would jump at a chance to put money into them. However, he wouldn\u2019t do the same for bitcoin because it doesn\u2019t produce anything and he would \u201chave to sell it back to you one way or another.\u201d<\/p>\n<p class=\"p2\">Despite the popularity of the digital asset over the years, the billionaire is still not convinced of its valuability. He pointed to the fact that he can\u2019t tell for sure where the asset will be in the next five or 10 years but remains completely sure of the fact it does not produce anything.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p class=\"p2\">\u201cIt\u2019s got a magic to it and people have attached magics to lots of things,\u201d Buffett noted.<\/p>\n<h2 class=\"p2\">Salinas Fires Back<\/h2>\n<p class=\"p2\">Buffett\u2019s comments about bitcoin have no doubt stirred up criticism from the bitcoin community. They came out en masse to support and fire back at Buffett after the video made the rounds on social media. Bitcoin supporter and Mexican billionaire Ricardo Salinas Pliego also took time out to rebuke Buffett\u2019s comment.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/ViErLXLv\/\" alt=\"Bitcoin price chart from TradingView.com\" width=\"3278\" height=\"1758\"><\/p>\n<pre style=\"text-align: center\">BTC holding the $36,000-$38,000 support level | Source: <a href=\"http:\/\/TradingView.com\" rel=\"nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p class=\"p2\">Salinas noted that Buffett was old and immune to change. Also adding that he was obviously commenting that he has no understanding of whatsoever.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">It&#39;s sad to see him rambling on about a suubject he clearly does not understand. That&#39;s why the future ALLWAYS belong to the young and not the OLD. <a href=\"https:\/\/t.co\/2L5Lc8zHjE\" rel=\"nofollow\">https:\/\/t.co\/2L5Lc8zHjE<\/a><\/p>\n<p>&mdash; Don Ricardo Salinas Pliego (@RicardoBSalinas) <a href=\"https:\/\/twitter.com\/RicardoBSalinas\/status\/85236224?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 1, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-halving-model-suggests-24000-bottom-before-years-end\/\">Bitcoin Halving Model Suggests $24,000 Bottom Before Year\u2019s End<\/a><\/strong><\/em><\/p>\n<p class=\"p2\">The billionaire has not been the only one to fire back. Others have <a href=\"https:\/\/twitter.com\/LindaPJones\/status\/16043008?s=20&amp;t=oasRQx-JfvK-NYDTohuGDA\" rel=\"nofollow\">pointed<\/a> out that Buffett continues to have holdings in crypto-friendly bank Nubank, as well as SBI Holdings and Bank of America which own more than 10% of Ripple and a Ripple partner respectively.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p class=\"p2\">BTC continues to maintain a good position on the charts. It is currently trading at $38,690 at the time of this writing.<\/p>\n<pre style=\"text-align: center\">Featured image from Bitcoin News, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is not topping the list of the favorite investments of some big names in the financial sector. One of those is billionaire Warren Buffett who has not been shy to voice his displeasure with the digital asset. This time around, Buffett has once again made known his hatred for the digital asset by saying that he would not buy all of the BTC in the world for $25. This has drawn the ire of investors in the space, one of which is Mexico\u2019s third-richest man, Ricardo Salinas Pliego. Warren Buffett Disses Bitcoin Billionaire and legendary investor Warren Buffett recently made some remarks about bitcoin. The most popular of these have been the fact that he said that if he were offered all the bitcoins that exist for a measly $25, he still wouldn\u2019t take the deal. The Berkshire Hathaway head said this at the annual shareholder meeting where he once more reiterated his disdain for cryptocurrencies. He explained that bitcoin had nothing to offer, making it an unproductive asset with no tangible production.\u00a0 Related Reading |\u00a0Tether (USDT) Q1 Trading Volume Plunges To $5.3 Trillion In Quarterly Low He compared the digital asset to other stores of value which include land and apartments. Both of these, the billionaire admitted he would jump at a chance to put money into them. However, he wouldn\u2019t do the same for bitcoin because it doesn\u2019t produce anything and he would \u201chave to sell it back to you one way or another.\u201d Despite the popularity of the digital asset over the years, the billionaire is still not convinced of its valuability. He pointed to the fact that he can\u2019t tell for sure where the asset will be in the next five or 10 years but remains completely sure of the fact it does not produce anything.\u00a0 \u201cIt\u2019s got a magic to it and people have attached magics to lots of things,\u201d Buffett noted. Salinas Fires Back Buffett\u2019s comments about bitcoin have no doubt stirred up criticism from the bitcoin community. They came out en masse to support and fire back at Buffett after the video made the rounds on social media. Bitcoin supporter and Mexican billionaire Ricardo Salinas Pliego also took time out to rebuke Buffett\u2019s comment. BTC holding the $36,000-$38,000 support level | Source: BTCUSD on TradingView.com Salinas noted that Buffett was old and immune to change. Also adding that he was obviously commenting that he has no understanding of whatsoever.\u00a0 It&#39;s sad to see him rambling on about a suubject he clearly does not understand. That&#39;s why the future ALLWAYS belong to the young and not the OLD. https:\/\/t.co\/2L5Lc8zHjE &mdash; Don Ricardo Salinas Pliego (@RicardoBSalinas) May 1, 2022 Related Reading |\u00a0Bitcoin Halving Model Suggests $24,000 Bottom Before Year\u2019s End The billionaire has not been the only one to fire back. Others have pointed out that Buffett continues to have holdings in crypto-friendly bank Nubank, as well as SBI Holdings and Bank of America which own more than 10% of Ripple and a Ripple partner respectively.\u00a0 BTC continues to maintain a good position on the charts. It is currently trading at $38,690 at the time of this writing. Featured image from Bitcoin News, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":489457,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,85052,9728],"class_list":["post-489452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-ricardo-salinas","tag-warren-buffett"],"acf":[],"yoast_head":"\n<title>Billionaire Ricardo Salinas Fires Back At Warren Buffett\u2019s Bitcoin Slander<\/title>\n<meta name=\"description\" content=\"Bitcoin is not topping the list of the favorite investments of some big names in the financial sector. 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